Never let a good crisis go to waste.
Disaster Capitalists gonna disaster capitalise.
Markets up, markets down, it’s all just another way for them to further enrich themselves at our expense.
What a sad, sad, article. There is no logical reason why a conflict in Israel/Palestine should affect 90% of the world’s economy. The country/countries are very small and not dominant players in any major world industry. So if the claim is true, it only goes to show that the current global economic system is a complete failure. If the claim is false, it goes to show that capitalists will seize any excuse to take our money.
We’ve been promised a recession for several years now. And eventually it will be right… kind of how the clock is right 1c a day.
Some context for the last tldr’d paragraph:
The negative Wall Street sentiments about the global economy have been echoed elsewhere. Last week, the Economist published a leader article entitled: “The world economy is defying gravity. That cannot last.”
This is the best summary I could come up with:
A global recession could be triggered by the conflict in the Middle East as the humanitarian crisis compounds the challenges facing an already precarious world economy, two of Wall Street’s biggest names warned this weekend.
Larry Fink, chief executive of the world’s largest asset manager, BlackRock, said a combination of the Hamas atrocities of 7 October, Israel’s resultant attack on Gaza and Russia’s invasion of Ukraine last year had pushed the world “almost to a whole new future”.
Jamie Dimon, the chair of America’s biggest bank, JP Morgan, told the same newspaper that the combination of Israel’s war on Hamas and Russia’s invasion of Ukraine – were “quite scary and unpredictable”.
“What’s happening on the geopolitical front right now is the most important thing for the future of the world – freedom, democracy, food, energy, immigration.”
At the bank’s most recent update to Wall Street last month, Dimon said: “The war in Ukraine compounded by [the] attacks on Israel may have far-reaching impacts on energy and food markets, global trade and geopolitical relationships.
Last week, the Economist published a leader article entitled: “The world economy is defying gravity.
The original article contains 406 words, the summary contains 188 words. Saved 54%. I’m a bot and I’m open source!
Sorry Jaime but if you thought either of these wars occurring were unpredictable then you’ve spent too long with your head buried in the spreadsheets
If there’s any group of cry-wolf financiers I could take less seriously than Wall Street, I cannot think of them.
Why take their counsel on anything?
