We're headed for a ‘profound economic and financial shift’: Mohamed El-Erian

https://fortune.com/2022/11/23/how-bad-economy-recession-top-economist-mohamed-el-erian-federal-reserve/

by Jimmc414 • 4 years ago

19 18 4 years ago

melling• 4 years ago

Paywall. Can someone summarize what is Mohamed El-Erian saying?

sp3322• 4 years ago

Markets 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-poly...

ilaksh• 4 years ago

"Very bad"

frozencell• 4 years ago

You'll own nothing.

weard_beard• 4 years ago

Oh thank god, they shortened it.

anonym29• 4 years ago

https://archive.ph/PRxgJ

paulpauper• 4 years ago

It would seem like pundits make this sort of prediction every year.

sp3322• 4 years ago

And there's no reason to think they're wrong this time either.

nerdface• 4 years ago

Wouldn’t that equally mean there’s no reason to think they’re right this time, either?

bequanna• 4 years ago

I 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• 4 years ago

I 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.."

AddingValue3• 4 years ago

Can'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• 4 years ago

Re your hint: You seem to be classifying those who don't understand as stupid. That's not compatible with the site guidelines.

stjohnswarts• 4 years ago

Imagine thinking like the root node that only you understand Marxism, cooperative anarchy, etc of all the people that are currently living.

AddingValue3• 4 years ago

Ok what would you name it then?

AddingValue3• 4 years ago

Had 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• 4 years ago

I 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• 4 years ago

The article is basically a nothing burger?

We're headed for a ‘profound economic and financial shift’: Mohamed El-Erian

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