When I was young I thought that Doc Brown in Back To The Future was just about the most intelligent person ever with his DeLorian and Flux Capacitor. Even Doc’s dog was kitted with all sorts of gadgets to make sure that he was fed and watered while the Mighty Doc got on with inventing his time machine. Just like Doc Brown needed his plutonium though…
Will we need a Financial Advisor more than ever in the Future?
What will the Stock Exchange Trading floor in New York look like in 2021?
Will Central Banks ever increase Interest Rates again?
In our previous Articles we tried to gauge if there was a #CoronaVirusExitDay, but there is more and more evidence to show that this special day may never happen as we are expecting it. The first time this properly registered with me was when last week I listened into one of Yanis Varoufakis’s @yanisvaroufakis podcasts on DiEM25’s channel on YouTube where he quoted an Article by Arundhati Roy from the 3rd of April in the Financial Times:
Arundhati has written one of the best summaries of the Virus and its’ effects that I have seen online so far, especially the last few paragraphs of the Article pull at the heart strings, where the reader is shown a glimpse of a strong Theory. The Theory that the Virus is forcing us to break with the past, and that the Virus is a portal into the ‘next’ world. It is inspiring to gain insight into the types of things that inspire influencers.
Today Robert De Niro and Madonna are both quoted in many mainstream media channels alongside a host of Nobel Prize winners calling for radical change in the world rather than ‘a return to normal’ after the coronavirus lockdowns. A sentiment that many seem to be starting to pick up on now:
Continuing with Yanis who so eloquently opened the topic of not returning to “Normal”, he is quoted in the Guardian yesterday where he tells us he likes the phrase that “Capitalism has been suspended”, developing this theme further and telling us that the rules of capitalism may have been suspended as well. Yanis explains the differences between the 2010 and 2020 Crises, especially from a Greek and German economy perspective. Not all of us are big Guardian fans, however, it is a good story to have a look at during your update today:
But an Article without mentioning the US is an Article not worth writing during this economic climate, so let’s consider Duke professor Harvey @camharvey who is one of the best predictors of the future. He was only expecting a mild recession in 2020, and although his prediction didn’t catch a global pandemic, following our acclimatisation to the Virus he has now shared his views which includes an encouraging prediction that we may see some ‘green shoots’ just in time for Winter.
Some traders have recreated the Trading Floor at home, like one HSBC employee who became very creative:
But whatever global banks can do Citadel can do better… Ken Griffin was quoted again in Bloomberg yesterday showing us how to ‘work-from-resort’, and how well it has worked for him. It appears that Citadel have taken Robert De Niro’s and Madonna’s suggestion to heart and maybe their moving their New York and Chicago offices to a Resort will not be a temporary move…
More to come next week as all of us here at #DisruptionBanking prepare to celebrate Victory in Europe Day tomorrow #StayHome #StaySafe, until Sunday at least 😊
Author: Andy Samu