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The Economist has killed satire (files.catbox.moe)

submitted 10 months ago by Masimatutu@lemm.ee to c/nottheonion@lemmy.ml

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https://www.economist.com/finance-and-economics/2023/10/30/what-a-third-world-war-would-mean-for-investors

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[–] OsrsNeedsF2P@lemmy.ml 45 points 10 months ago (1 children)

Europe had been moving towards the slaughterhouse for years, and by 1914 a conflict was all but inevitable—that, at least, is the argument often made in hindsight. Yet at the time, as Niall Ferguson, a historian, noted in a paper published in 2008, it did not feel that way to investors. For them, the first world war came as a shock. Until the week before it erupted, prices in the bond, currency and money markets barely budged. Then all hell broke loose. “The City has seen in a flash the meaning of war,” wrote this newspaper on August 1st 1914.

Apart from this, nothing in the article is worth reading.

[–] fckreddit@lemmy.ml 29 points 10 months ago (1 children)

Investors have their heads buried in there arses or rather in the charts and balance sheets. I think they delude themselves into believing that by buying selling what essentially amounts to promises, they think they are doing important work.

[–] RatherBeMTB@sh.itjust.works 4 points 10 months ago

The only reason all that industry exists is because the government keeps devaluing and taxing our savings. The day we create an asset with easy transactions and that doesn't devalue, with ease of exchange, they'll be out on the street.