"I dream of a recession"
“Independent trader” Alessio Rastani has become an internet phenomenon after declaring on live TV that “Goldman Sachs rules the world”.
He opines: “This is not a time right now for wishful thinking that the governments will sort this out.
“The governments don’t rule the world, Goldman Sachs rules the word. Goldman Sachs does not care about the rescue package.”
Rastani, who is certain to have written himself into City folklore, says he dreams of recession for the opportunities it might bring. The same dream he has been having for the past three years.
In the interview with the BBC, Rastani espouses the kind of attitude that many died off during the last financial crisis . It remains unclear whether the interview is a hoax, given his seemingly outlandish views and the news anchor’s shock.
He doesn’t care about the economy, he talks of the Great Depression wistfully, he seems to have no concept of the social impact: it’s almost too good a parody of a trader. (continues below)
If true, however, such abject cynicism will strike many as depressing and hark back to the “greed is good” mantra of Wall Street’s Gordon Gecko and his immitators.
But is there anything to be learned from the interview?
During the interview he warns people to “get prepared” and warns of the coming economic peril, not bad advice. He tells viewers they can make money when the euro and stock markets crash, they can.
This isn’t rocket science and many people would agree with the man, on a few points.
Yet, when Rastani says during the interview he dreams of recession, you can imagine that he actually means “prays for”, partly why the whole interview has been questioned. But with the global outlook looking increasingly downcast, it could only be a few months before Rastani’s dreams become real.
Have you looked at investment trusts more since RDR?