Market speculation is clearly exacerbating the economic consequences of the COVID-19 pandemic.
Financial markets are insensitive to the well being of the planet and its people and always choose financial gain over reason. They are glorified casinos where well paid gamblers place bets on whether a crisis will affect the gambling appetites of other gamblers.
While recovery depends on confident, calculated action we are allowing gamblers to decide whether companies live or die and currencies rise or fall. A handful of neurotic gamblers thereby decides the fates of whole industries and nation states.
This flawed system has been crashing regularly since 1929 and is the very root of the extreme inequality most of us want to eradicate. What would happen if we just closed down the casino and fired the gamblers?
Let’s have the 2020 mark the beginning of a New Age of Reason where knowledge driven systems and intelligent people call the shots. We have never been more prepared to design a sustainable system that aligns with reality and reason.
“The Market”