From declines in home and vehicle ownership to global inflation and government spending, many of the trends of modern life reveal a new world that is emerging – one in which Western citizens by choice or by circumstance, increasingly do not own possessions or accumulate wealth. It’s the perfect economic environment for the rich and powerful to solidify their positions and prevent anyone else from getting ahead.
“It may sound absurd, but a good example is one’s main communication device, the cellphone. You do own the device, but it is rendered useless/worthless if the cellphone network decides to switch off your connection.
1. The phrase, “You’ll own nothing and be happy”, originated in a 2016 video by the World Economic Forum (WEF), summarising an essay written by Danish politician Ida Auken. In her essay titled: “Welcome to 2030. I own nothing, have no privacy, and life has never been better.” Auken predicted a future where people don’t own houses, cars, appliances or clothes. Instead, they would rent everything, relying on shared services for daily needs. It’s important to note that this vision isn’t necessarily the WEF’s official goal, but rather a thought-provoking exploration of technological development and societal change. So, while the phrase has gained attention, individual ownership and control over private property remain part of the WEF’s Agenda 2030 framework.
2. World Economic Forum (WEF)
The following statement coming from the WEF agenda reads as eloquent and praiseworthy as any church manifesto could wish to contain. “This is an agenda of unprecedented scope and significance. It is accepted by all countries and is applicable to all, considering different national realities, capacities, and levels of development and respecting national policies and priorities. The statement goes on to state: “as we embark on this great collective journey, we pledge that no one will be left behind”.
There is a plan for correction for both people and the planet for prosperity. All stakeholders connecting in collaborative partnerships will implement this plan.
3. Carol Roth published a Book titled, “You Will Own Nothing”. In the book Roth reveals how the agendas of Wall Street, world governments, international organisations, socialist activists, and multinational corporations like Blackrock all work together to reduce the power of the dollar and prevent millions of Americans from taking control of their wealth. She shows why owning fewer assets makes you poorer and less free.
Klaus Schwab managed to sort of put himself in the middle of a lot of very powerful people. In 1971 he founded the European Management Forum which is the World Economic Forum (WEF) predecessor. He also put out a book and described this concept of the stakeholder as opposed to a shareholder. Carol Roth claims that Schwab clearly is trying to conflate the concept of a stakeholder with that of a shareholder.
The fundamental difference is that a shareholder has placed capital or something else of value at risk, as for instance time and effort into a company, whereas a stakeholder merely wishes to take a free ride of what a shareholder has put together.
As a shareholder, it could be that your time and your blood, sweat, and tears are invested, but you have taken that risk. If you were getting compensation for the risk and in contrast thereto his idea of a stakeholder is incredibly vague, and it boils down to it that a stakeholder is anybody who wants to come along and basically free ride off of what a company or some other entity is doing.
WEF members/stakeholders are incredibly well connected with the who’s who of world political leaders and companies; they have a list of partnerships and you’ll go through some of the biggest companies in the world and you’ll notice that they are named partners; you’ll notice that there are lots of political leaders who have attended and it’s challenging to sort out who is just there because everybody else is there, and this is a way where to make deals again.
Klaus Schwab at the Harvard Kennedy School of government talked about the young global leaders, and this is where they identify political leaders that sort of bring them into the WWE system. You have people like Canada’s Justin Trudeau and Chrystia Freeland who have been part of them. The message that Schwab boasts about is that they must penetrate the political cabinets around the world, and it seem that they’re very entrenched in government. Roth believes that the WWF is very entrenched with the United Nations.
4. Rent versus buy as a defence against the WEF notion.
A property owner pays rent of just under R6 000 per month. The same house if bought will incur bond repayments of R10 000. From a cash-flow perspective, the rent option looks attractive initially. However, every year the rent will increase, while the bond payment stays fixed over the period (assuming a fixed-rate option is taken by the homeowner).
The benefit of renting is reached at approximately 10 years, whereafter the bond payment is less than that of the rent required. This position is desirable for prudent citizens as it will leave them with some relief in their later years. During the 20 years, the value of the property bought will increase and will in all probability more than double assuming even a low growth rate. The property is a great hedge against inflation and will form a major portion of the net worth/wealth of the owner at retirement and thereafter.
5. The people who propagate that ordinary citizens should not own any property use language that makes it obvious they do not include themselves in the category of owning nothing. They see themselves as the owners of property which they will rent out to citizens.
They want people to buy into the mindset that they will be happy to live in a world where they can rent anything in the world without owning anything. This is a dangerous message to propagate. Young people may find the idea attractive. No assets to control and maintain may sound like a relief but with that position goes the absence of asset growth over time. This on top of a two-tier retirement pot system will now work well. Over the centuries the people who have been successful in creating wealth have accumulated assets that grow in value over time.
The very first founding provision of the Constitution declares that the Republic is a state founded on values. Our social order is in the first place a value-based society. Values which the Constitution entrench are, namely, human dignity; human rights and freedoms; and social justice. Property rights have a profound enabling and facilitating effect on human dignity, personal security, and security of tenure, and these values are evidently a matter of public interest.
* Kruger is an independent analyst.
** The views expressed herein are not necessarily those of Personal Finance or Independent Newspapers.
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