From 600+ conversations with the world’s leading thinkers.
The value of the Rial dropped over 40% in two days. This was a clear currency collapse! It immediately injected hyperinflation into some areas of the Iranian economy as merchants who wanted to import suddenly had to double their local currency prices.
As an economy is declining, we see an increase in sell-side interest across all asset classes, as holders are looking to get liquidity and shore up their own balance sheets. As far as an up-economy, that's where we see buy-side interest as buyers get greater risk-tolerance.
Thanks to monetary policy, business cycles are far less volatile today than they were in the 19th century, when we had huge swings. But if cryptocurrency takes over the way its proponents would like, we could return to the ups and downs of the pre-monetary policy era.
We have to acknowledge that the global economic recovery that we started to see in 2009 was the first economic cycle since World War II that was not led by the US, but by China.
GDP and GNP shouldn't be scrapped, they're of value, but they don't even give us an indication of economic well-being let alone individual well-being
If you asked most people to categorise good trades and bad trades, you would find the answers to be quite simple… If it makes money it's a good trade, and if it loses money, it's a bad trade. That's not true at all…
The only value that government paper provides you at this point is, basically, the fact that if everything goes to 'hell in a handbasket' that you have some assets of value.
As far as I'm concerned any business that's up and running within an hour of having mortar [attacks shows remarkable resilience].
In our market-economy, consumers have the power. I also believe that almost every consumer has an element of compassion in herself or himself.
We've entered a geopolitical recession, where the old US led world-order is unwinding. This isn't just a Trump issue- it's about Europe, BREXIT, about Russia undermining the US and the West, the rise of China and its alternative political and economic models.
We've had a collective gap of imagination around economic bridges. We know how to build bridges; we just don't build them.
Why don't we start with a fundamental step – ceasing to fund our own downfall? For years, we held onto the belief that welcoming China into the international order would prompt them to abide by established rules, liberalize their economy, and make their governance more democratic.