Revenge of the Old Economy - Jeffrey CurrieDue to the Under-investment Thesis. Poor returns / stagna

Oct 27, 2022
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Revenge of the Old Economy - Jeffrey Currie

Due to the Under-investment Thesis. Poor returns / stagnating demand over the previous decade saw capital redirected into the new economy (all that Tech), starving the old economy of funds it needed to grow the supply base, infrastructure aged, creating a lot of the problems we're seeing today.

Oil large cycles last 10 or 12 years in past instances (70s, 02 to 2014).

The revenge of the old economy | Financial Times 2021: "Indeed, the old economy was overbuilt, debt-laden and over-polluted. While the old economy only represents about 35 per cent of global gross domestic product, it generated at least 2 times the corporate losses, had about 90 per cent of the non-financial debt and created 80 per cent of the emissions. It is no wonder why investors preferred Big Tech to oil and copper."
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<div>Revenge of the Old Economy - Jeffrey Currie</div><div><br></div><div>Due to the Under-investment Thesis. Poor returns / stagnating demand over the previous decade saw capital redirected into the new economy (all that Tech), starving the old economy of funds it needed to grow the supply base, infrastructure aged, creating a lot of the problems we're seeing today. <br></div><div><br></div><div>Oil large cycles last 10 or 12 years in past instances (70s, 02 to 2014).</div><div><br></div><div> </div> <a target="_blank" href="https://www.ft.com/content/c7732d53-2e34-4fde-b5fb-6f45f114111f">The revenge of the old economy | Financial Times</a> 2021: "Indeed, the old economy was overbuilt, debt-laden and over-polluted. While the old economy only represents about 35 per cent of global gross domestic product, it generated at least 2 times the corporate losses, had about 90 per cent of the non-financial debt and created 80 per cent of the emissions. It is no wonder why investors preferred Big Tech to oil and copper."<br>
Revenge of the Old Economy - Jeffrey Currie

Due to the Under-investment Thesis. Poor returns / stagnating demand over the previous decade saw capital redirected into the new economy (all that Tech), starving the old economy of funds it needed to grow the supply base, infrastructure aged, creating a lot of the problems we're seeing today.

Oil large cycles last 10 or 12 years in past instances (70s, 02 to 2014).

The revenge of the old economy | Financial Times 2021: "Indeed, the old economy was overbuilt, debt-laden and over-polluted. While the old economy only represents about 35 per cent of global gross domestic product, it generated at least 2 times the corporate losses, had about 90 per cent of the non-financial debt and created 80 per cent of the emissions. It is no wonder why investors preferred Big Tech to oil and copper."

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