The gif and the headline hyperbole are par for the course here. All I can suggest is “know your boinger”. Cory is very fond of opining on topics he knows little about but about which has strong emotional feelings and framing them in “the sky is falling” terms. Global finance included.
In this case he’s picked a doom & gloom alarmist article from a financial news/editorial site but probably hasnt bothered to read the actual source material. Again par for the course. The Guardian also ran a fairly alarmist article on this BIS report but given their editorial position, that is not surprising either.
The thing is, even if one doesnt have much knowledge and experience in some matters, tracing down the source material for things like this is not impossible. Took me all of two minutes. Reading the source material took longer and if one werent familiar with the terminology used, looking up those words might add more time. But if the question is if the sky is really falling or not, isnt it worth the effort?
The economy has always been "global"1); not having a global economy is an unrealistic idea.
1) By which I mean the known world at any given time, from the perspective of those performing business transactions. “International” trade goes back to the stone age. 7,000 years ago there were trade routes in Europe from the North Sea coast to the eastern part of the Aegean Sea, often using rivers like the Danube. That’s roundabout 2,500 kilometers as the crow flies.
Nah, it the sky is falling nothing will safe you - and if it doesn’t, who cares?
But seriously, lots of interesting stuff on the BIS homepage, including data I can use for one of my pet projects*.
* My background is in civil engineering; from 2006 to 2016 I was involved in reconstructing a concert hall from 1913. So at one point I got curious about what were the original costs and how much that would be in today’s money. I’m still compiling the original costs from stuff I’ve found in archives, but it’s a bit sketchy yet. Also, it’s an on-and-off spare time pet project, so it will take some time.
