Dystopia Now

Apr. 26, 2020 11:49 AM ETSPY909 Comments
The Heisenberg
29.09K Followers

Summary

  • Nearly two months into the most acute crisis in a century, market participants are pondering a series of existential questions.
  • Efforts to collect data quantifying economic activity have been rendered somewhat meaningless in a world where such activity is literally forbidden.
  • Asset prices of all kinds are one part administered and one part pure abstraction, although it's no longer clear from what that abstraction emanates.
  • I never thought I'd live to see a dystopian future, but that future is now. Here are some fresh thoughts on markets and the economy in these surreal times.

I never thought I'd live to see a dystopian future.

Writers more gifted than myself (not to mention innumerable artists and some of the most accomplished directors in the history of film) have conjured their own distinct versions of how such a future state might look - and what it would entail for the people living in it.

I) 'Lifeline'

On a blinding Saturday morning, while squinting unhappily at a too-big pile of mail through a pair of Helmut Lang aviators on the back deck, the cover of the April 13 edition of The New Yorker stuck out.

It's a piece by Pascal Campion called "Lifeline." In it, a worker delivering something essential (food, probably) stands under a lighted awning amid towering high-rises and rings the buzzer. Just a few feet away, his bicycle rests precariously against a light pole. It's raining. It's dark. The streets are deserted.

The visual is, to quote Françoise Mouly, who interviewed Campion, "a nod" to the essential worker "and to his place in a silenced metropolis."

Describing the cover, Campion told Mouly the following:

I started not with the feel of the city but with my own emotions. I felt dark, lonely, a little scared, and I built a city—based on New York—out of that feeling. Instead of choosing shapes, I chose lights and shadows. I worked on textures first and added details later. Eventually, I got to a point where all I needed was a small visual anchor to make the image representative rather than abstract. In this case, the delivery man became the recipient (and embodiment) of my emotions.

Staring at the cover I felt suddenly out of place in the world - even more detached from the rest of humanity than usual. My reality is the opposite of Campion's "Lifeline," and thereby the opposite of

This article was written by

29.09K Followers
Perhaps more than any other time in the last six decades, the fate of markets is inextricably intertwined with the ebb and flow of geopolitics. It's become increasingly clear that one simply cannot fully comprehend market movements without a thorough understanding of concurrent political outcomes. Drawing on extensive experience in both politics and finance, Heisenberg will help demystify a world in which investors can no longer hope to conceptualize of markets as existing in anything that even approximates a vacuum.

Analyst’s Disclosure:I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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