While the internet's advent may have given everyone a voice, not all voices deserve an audience.
Here's an entertaining UBS podcast featuring Amundi CIO Vincent Mortier and a couple of others. It's amusing because:
i) Our AI auto-transcribe language detection function gets confuses between French and English.
ii) Mortier starts by mentioning that recent US economic data, “on the ground” (which could mean either Paris or Milan), shows weakness. The next speaker immediately contradicts this, aligning more with the actual data. It's like listening to IDF and Hamas spokespersons describing the same event.
The best part is how seriously some people sound (about themselves) when they talk such nonsense. Don't worry; the French never pay for the service anyway; we all know that. And the ones that do firmly agree with us.
Determining the current state of the US economy shouldn't be as challenging as two sets of OSINT analysts trying to figure out whether a Fajr-3 or Fajr-5 rocket hit the Gaza hospital, given the incomplete information and deliberate disinformation campaigns from all sides. Our job is much easier with all the self-deception and post-truth narratives prevalent in the finance industry. It's embarrassing to share this with industry outsiders.
For those interested in hearing an expert's opinion on the actual current state of the US economy, we recommend listening to Former Fed Vice-Chair Lael Brainard speaking in a (timely) Peterson Institute webinar tomorrow, October 27th. She's “brains” by name and “brain” by nature.
