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

submitted 2 years 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 41 points 2 years 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 27 points 2 years ago

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.