When stocks or bonds for investment in companies are being marketed, the custom is to lavish praise on the performance of the companies concerned and how profitable they have been up to the moment that the issue was launched. Then at the end, very hurriedly, potential buyers are reminded that what has occurred in the past will not necessarily recur in the future.
Do past events provide real guidance regarding what could happen in future or don't they? Certainly the past provides a method by which to evaluate how worthwhile the decision could be to buy a future stake in any enterprise. If performance has been good or bad, this gives cues enabling one "from the outside" to assess what could happen after a commitment to purchase. In a way, the same kind of calculation precedes all the commitments to any project one could make, and not necessarily financial ones. Other projects could be dealt with in the same way, in sectors ranging from sports to politics to religious practice.
Indeed, there seems to be no better way of trying to navigate the future except by following the compass of the past. But it has to be used creatively, not blindly.
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NEWS
For many, the social media have become the major source of news regarding what is happening in their world... if not the only source. In certain cases, this means that citizens are getting their news much faster. And when events happen about which the traditional media cannot publish openly all the details, the social media do so.
The problem with social media is that there seem to be no real checks and balances regarding how they operate, so that frequently no real distinction exists between what is true and what is not, between what constitutes an opinion, speculation or fact. The solutions that have been introduced or are being proposed to counter this are hardly satisfactory. One hardnosed view is that it's better to have them than nothing at all.
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SANCTIONS
Since the start of the Russia-Ukraine war, we have heard a lot about the sanctions that the Europeans have extended against Russia to exert pressure and bring about an end to the war. The sanctions applied by the Russians on their part against countries which support the Ukraine are rarely mentioned.
They exist and are not trivial, covering measures in the sectors of finance, agriculture, intellectual property and visas for travel to Russia. European assets and enteprises in Russia have been placed under state control. Intellectual property is being used without payment to its owners. A total embargo is in place on farm products imported from Europe. Travel from Russia to Europe has become extremely difficult, almost impossible.
Without any doubt European sanctions imposed on Russia are much wider and are continually being extended. But up to now, the sanctions applied by both sides do not seem to have had much impact on the conduct of the war. Even so, when and if ever a final agreement to put an end to it is reached, reversing their effects will not be an easy matter.