Pandemic a curtain-raiser for a coming age of upheaval in global economy
Repost from 9-14-2021
“We don’t know what the longer-term consequences of the degree of stimulus are that we’ve been administering. So it’s as though we’re testing drugs on a patient and we know that they work in the short run to mitigate pain and see us through the crisis.” – Adam Tooze, Shutdown: How Covid Shook the World’s Economy
USAGOLD note: Like many profound insights, the foregoing might be overlooked as simplistic, yet it goes to the heart of the dilemma in financial markets: Nobody knows what happens next. There is no history to go by. From where we stand, that randomness is precisely why a proven hedge is something the discerning investor might wish to put in place. The above, though, is just one of many insights Adam Tooze, a British historian now a professor at Columbia University, offers in the interview linked above.