2024-02-16: Markets

It is comforting to realize that much of the disinformation – intentional or otherwise – we see today is not a new phenomenon. Despite of what the press and sundry commentators say, very little is truly unprecedented and that is a good thing. Take for example the story, very popular in the ’90s and ’00s, that a glass of red wine a day keeps the doctor away (to paraphrase a known saying; pictured is a glass of rose’ wine because I like it better). Truth, and getting to it, is complicated and multidimensional, as this article from The New York Times makes clear. It involves research, data, interpretation, economics and very often more and better data. It also requires integrity and lack of biases on the part of who does the work.
     It is then perhaps not surprising that so much of what comes across as a description of reality today is actually false or questionable, built to promote someone’s agenda. But what is amazing is how gullible (biased?) we have all remained over time.

Markets continued their positive streak last week, led again by emerging market equities. This despite inflation data in the US were less than encouraging, putting further doubts on the ability of central bankers to lower rates.

[Cover Source: author’s photograph]