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Hey Everyone,
"We know well that forecasting is a tricky game, not a game, actually, but it's a tricky exercise..."
"We have to take each quarter of projections as they come and then adjust what we need to adjust using all our instruments. And yes indeed, we believe that forward guidance is going to play a role in the set of tools that we have available, some of which we're using extensively at the moment."
-Christine Lagarde, president of the European Central Bank, during a press conference today, possibly not realizing the absurd paradox she just articulated.
Here it is in layman's terms... We can't tell the future, we can only guess. So we'll need to react quickly in real time using our tools. One of these tools is to tell you what we're gonna do in advance.
See what I mean?
In any case, we really can't bring up Lagarde without recalling the famous quote she uttered in a pre-pandemic speech. ...
"We should be happier to have a job than to have our savings protected."
This makes it seem like the key policymakers who run the world's economy would prefer that we work hard and remain poor, a position that is becoming more transparent as we go.
It's as if the entire world suddenly and collectively woke up to the fact that you can't get wealthy working a day job.
I suppose that's why you're all here though, right? |
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Musk Wood Dorsey
It was quite the event and we did get several minor revelations from the three giants of the FinTech world.
After the show, I had the honor of presenting the highlights and takeaways with the one and only Ran Neuner in front of a live YouTube audience.
Make sure to catch the recording now at this link. |
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Future of finance
Even with the massive market slump of the last few weeks that I hope we're pulling out of at the moment, these last few months have been revolutionary.
According to recent data from analytics firm CB Insights, blockchain startups managed to raise a total of $4.38 billion during the second quarter.
The current quarter is off to a great start thanks to Sam Bankman-Fried's $900 million funding round for FTX. Not bad at all.
As always, thanks for reading the BMJ Newsletter. Feel free to share it with a friend!
Have a wonderful afternoon. |
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Mati Greenspan Analysis, Advisory, Money Management |
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