May Day

Evangelism it ain’t:

Conferences like Milken have an inherent bias towards optimism. Want to know about the world’s innumerable problems? Open a newspaper. People pay good money for a conference like Milken not just to rub elbows with the global economy’s biggest players, but to feel like at least some of these problems are solvable. […] But a spend a few minutes at the finance-focused panels at this year’s conference, and the only optimism you’d hear is the very guarded kind. Investors and policy makers are scared: about demographics, central bank policy, growing income inequality, and much else besides. […] Former Treasury Secretary Tim Geithner set the tone at a panel on Monday where he shared the stage with Hank Paulson, Bob Rubin, and Facebook’s Sheryl Sandberg. When asked where the economy was headed in the coming years, Geithner reassured the audience, “We live in a scary, dark, messy, and uncertain world. That is the normal state of mankind.”

One thought on “May Day

Leave a Reply