The End of the World (As We Know It)?

Once again the world hasn’t ended.

Since you’re reading this, you’re aware that the world didn’t come to an end as predicted by Harold Camping some half-dozen times or so. But clearly, he’s not the first person to predict the End—just the most recent. Unshaven men with sandwich boards declaring “The End is Near,” were a staple of editorial cartoons of the ‘50s and ‘60s. And “millenarian thinking”—the believe that the world-order will be turned upside-down and a new, golden age will appear—has been with us for thousands of years.

Apocalyptic predictions aren’t just for the religious: Marx predicted that a secular millennium would arise from the Communist Revolution; Y2K and UFO Religions offer a technological doomsday. And there are aspects of environmental apocalypticism in the global warming forecasts that are out there. There’s something deep inside us that expects calamity.

I’ve noticed, however, that these predictions seem to proliferate around times of modest prosperity. During the Crash of ’08 we weren’t reading about the end of the world—we were seeing it, at least the end of the financial world as we had known it. The Heaven’s Gate group committed suicide in 1997, when the economy was fairly good. William Miller and the Seventh Day Adventists got their start in the 1830s, a time of tremendous expansion in the US.

So I’m actually encouraged by these prophecies of the end. It often means that things are getting better. And if the end does come, we probably won’t be looking for it.

Douglas R. Tengdin, CFA
Chief Investment Officer
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By |2017-07-17T12:35:05+00:00May 27th, 2011|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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