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And how will not having semi-reliable data affect Wall St?
by gonzopancho 1y ago
And how will not having semi-reliable data affect Wall St?
- kjellsbells 1y agoHonestly no one knows but two scenarios could play out: 1. The economy goes bad quickly as actoes realize they cant rely on data to make rational economic decisions. 2. Certain actors pay some quasi-governmental organization (say, "Friends of Mar-a-Lago Book Club") to get access to more accurate data, on the agreement that they make the stock market go brrrr, and they continue to make money.
- pstuart 1y agoWasn't a significant contributor to the 2008 crash the fact that the ratings agencies were cooking the data? Obviously different data and utilization, but as economic models require accurate data to forecast accurately, it could be a cascading effect. https://en.wikipedia.org/wiki/Credit_rating_agencies_and_the_subprime_crisis https://en.wikipedia.org/wiki/Credit_rating_agencies_and_the...