#145 - What would happen if financial markets crashed?
Today's episode from 14th February 2022. First this Monday: this January was the worst for Wall Street since 2009. We take a look at why, even despite the new risk-mitigating technologies, there's cause for concern in the markets. Then later, teenager Eileen Gu has taken the Winter Olympics by storm after winning gold in the women's big air freestyle skiing. But apart from the chorus on questions about her citizenship, why are some calling her an original? New capital rules have pushed a lot of risk-taking out of banks. Digitisation has created new platforms for owning assets, cut the cost of trading almost to zero and has given computers more decision-making power, resulting in a high-frequency, market-based system with a new type of player. However, the reinvention of finance has not eliminated all of the past threats. The Economist reveals two of the biggest threats that stand out in today’s economy that could result in a devastating crash. Eileen Gu is an original. The San Francisco-born Olympian chose to represent China in the 2022 Beijing games, and after winning gold, she now has the two countries jostling to understand and claim her. For The Washington Post, Jerry Brewer reflects on how Eileen Gu has become "the quintessential athlete for an entangled Games — astonishing and complicated, able to provoke exaltation and conflict." But while this is all happening, the teen, thrust into stardom, is focusing on only one thing: more medals. Wake up with Curio is a different kind of morning show that gives you the context behind the news and gets you motivated for the day ahead, every Monday - Friday.
From Wake Up with Curio