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We're headed for a ‘profound economic and financial shift’: Mohamed El-Erian
- melling 4y agoPaywall. Can someone summarize what is Mohamed El-Erian saying?
- sp332 4y agoMarkets have been trained to expect easy money from central banks, he said, and the “perverse effect” of that has been for “a significant chunk of global financial activity” to flood into asset management, private equity and hedge funds, among other less-regulated entities. The gyrations in markets since the easy money era ended this year can be understood as that significant chunk looking for a new home, investment-wise. It also links to Adam Tooze's article coining "polycrisis". https://adamtooze.substack.com/p/chartbook-130-defining-polycrisis https://adamtooze.substack.com/p/chartbook-130-defining-poly...
- ilaksh 4y ago"Very bad"
- frozencell 4y agoYou'll own nothing.
- weard_beard 4y agoOh thank god, they shortened it.
- anonym29 4y agohttps://archive.ph/PRxgJ https://archive.ph/PRxgJ
- paulpauper 4y agoIt would seem like pundits make this sort of prediction every year.
- sp332 4y agoAnd there's no reason to think they're wrong this time either.
- nerdface 4y agoWouldn’t that equally mean there’s no reason to think they’re right this time, either?
- bequanna 4y agoI wouldn’t really call El-Erian a pundit. He was CEO of PIMCO, one of the largest fixed income management firms in the world.
- yucky 4y agoI don't think he's necessarily wrong, but he's been saying this same thing for around 10 years now. At some point it's like Nostradamus saying a "A king will rise in the east one day.."
- AddingValue 4y agoCan't read that article either. Lets build new systems, because the old (financial) systems are based on "make believe" science. Printing paper (cash) then trading paper for paper (stockmarket, digital or not) does NOT create value. Builing innovative products that help people in everyday life, does create value & jobs. (Hint: the stupid wont understand, so please only reply, if you understand)
- AnimalMuppet 4y agoRe your hint: You seem to be classifying those who don't understand as stupid. That's not compatible with the site guidelines.
- stjohnswarts 4y agoImagine thinking like the root node that only you understand Marxism, cooperative anarchy, etc of all the people that are currently living.
- AddingValue 4y agoOk what would you name it then?
- AddingValue 4y agoHad SO many stupid replies that thinking about not only deleting ALL tweets (if not now, then when? x XD) But also giving up on 1) mankind 2) this nice & uncomplicated hacki app that integrates so well with the ycombinator comment section #2 is definately an option. As i just can not be bothered with trolls & the ignorant & the stupid. (Costs too much time & energy educating those who have been ignorant towards their own development for decades)
- more_corn 4y agoI agree, but there’s no reason to be an asshole about it. If you communicate and someone fails to understand, that’s a communication on your part. But perhaps what you meant to say is “if you disagree, you’re stupid”. That sentiment is incompatible with constructive discourse. It is also a dangerous trap for you. If you assume everyone who disagrees with you is dumb, you cannot correct any error in thinking. The only people who never need to be corrected are the people who are perfect. How many of those people are there? And even if there were perfect people you would not be one of them since you misspoke and said understand instead of agree. But like I said, I do agree. We ought to build value. In fact that might be the answer. The economy is dangerously overbalanced, but the solution is a return to value. Identify the things that produce a tangible benefit by making peoples lives better, making their work easier or better, making their lives less environmentally destructive. If we trim all the speculation off the economic system a core of value will remain. The system won’t go to zero because there’s good in the center. And maybe it’ll do us all a lot of good for the wild speculation to stop.
- jacooper 4y agoThe article is basically a nothing burger?