Virtual and Augmented Reality
The racial wealth gap and homeownership nonsense; the NYT’s $6k Brexit tour; the phrases used by those least likely to pay back their loans; Gundlach takes on #FakeNews; don’t worry about unemployment, there’s always VR; insecurity questions; other stuff.
How about this for a wheeze? Tell your boss that on July 1 you are going to some boring conference called the FT’s Festival of Finance in the City, where you’ll be able to focus on some potentially market-moving remarks from the ECB’s chief economist, Peter Praet, and also catch a discussion with one of the sharpest financial brains on the planet, Hyun Song Shin. But really it’s Camp Alphaville, so you can also grab a VR headset and play this as well!
For a given definition of winter*, naturally. From Willem Buiter and team at Citi on why the risk of a global growth recession is high and rising, with our emphasis: The growing threat to the global outlook rests on poor fundamentals, which include the pre-existing fragilities related to the structural and cyclical slowdowns in China and its unsustainable currency regime, broken EM growth models, excessive leverage across many countries and sectors, and rising regional risks (Brexit) and geopolitical risks (including in Russia, Turkey and Syria, the South China Sea, and North Korea).
With all the doom and gloom in the air, you would be forgiven for getting a bit down about the prospects for growth. Indeed it is interesting just quite how quickly market expectations have been upended, with Goldman Sachs abandoning five of its six “top trades” for 2016 barely a month into the year.