David Shapiro on why financial markets are bubbling, tech's 'vroom' and a letter from the 50s

The International Monetary Fund reported in May that incoming data showed many countries will be hit worse than its already pessimistic projections, and that the world will be thrown into the deepest recession since the Great Depression of the 1930s. GDP output, the fund said is expected to be shrinking by 3% in 2020. This forecast will be revised in early July. The dire predictions do not explain why financial markets are as one analyst put it, “bubbling”. David Shapiro has dug deep into the history of why markets react as they do and was sent a letter written in the 1950s by John Templeton, the billionaire philanthropist who created the Templeton Growth Fund about the unpredictability of markets. Shapiro also discusses the news that Pam Golding is restructuring and tech companies that  ‘vroom’ with Biznews Managing Editor Stuart Lowman. – Linda van Tilburg Learn more about your ad choices. Visit megaphone.fm/adchoices