Felix Salmon
speaker
72 appearances
4 recordings
1 series
first heard Aug 2012
last heard Dec 2013
Felix Salmon’s voice in public audio — every appearance, attributed to the second.
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Appearances
I drink it as often as I can.
I think the first article I saw was full of these charts showing that the amount of wine we were drinking was going up, even as the amount of wine that was being produced was going down, and that the inevitable consequence was that there just wouldn't be enough wine to go round.
I think that most of the news stories didn't even read the report.
They just read the headline, which said global wine shortage, and then they said global wine shortage, and they just copy and pasted the numbers from the report into their little scary...
Ready, Set, Panic articles, and that was the end of all of the reporting they did.
I can put you all at ease.
You can stand down.
You don't need to stock up on wine for the next five years because there's no global wine shortage.
The interesting thing is that there actually was a little bit of a shortage between the years of
in 2012.
One thing they did was they stopped the graph in 2012.
If you just did a little bit of a check on this, you would find that no one believed this report.
Everyone who went out into the wine industry and said, is there a wine shortage, kind of shrugged and said, what are you talking about?
And if you went down to Spain or France, you would find a lot of vineyards which were for sale for less than the cost of planting the vines.
So you could buy the land...
There was some problem with the program.
We don't know exactly what.
They switched it on and immediately they started losing literally $10 million a minute.
It looks like what they were doing was they were buying high and selling low many, many times per second and losing $10 or $15 each time.
And this went on for 45 minutes and at the end of it all they wound up having lost $440 million.
Showing 21–40 of 72 · page 2 of 4
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