"Market accidents and policy mistakes"
Charlie Rose: A Conversation with Mohamed El-Erian
July 28, 2008 3:30am by Barry Ritholtz
This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment. The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client. References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. The Compound Media, Inc., an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers Please see disclosures here: https://ritholtzwealth.com/blog-disclosures/
What's been said:
Discussions found on the web:Previous Post
Open Thread: Greenspan’s FolliesNext Post
IMF Report: Housing still way overpriced
I cut off watching this at 12 minutes so let me know if it’s worth watching the rest. As a new Democrat and having become a fan of people with exotic, Muslim-sounding names such as Barack Obama and Fareed Zakaria, I was expecting something a bit unconventional and maybe more insightful with someone named Mohamed El-Erian. But that could just as easily have been Bill Gross or Paul McCulley.
Well,
I was able to watch 26 minutes… Had nothing to do with Muslim sounding names.
These guys at Pimco are a bunch of talking heads. Wall Street Greed and Federal Reserve duplicity is what caused this mess. Period.
i had watched the actual event the other night. i had heard this guy was so smart, they must have been very ‘standardized tests’.
his big message, americans will be poorer. (except for guys working for pimco.)
thanks for the precious insight, muslim pal.
Are you people xenophobic??
Mohamed El-Erian identified and chronicled the systemic change in emerging markets. He shot the lights out at the Harvard endowment. His predictions of near term events are ignored at your financial peril.
The racist BS above is moronic and un-American.
Well, what got us here? Part of it is that American workers were shafted by falling/stagnant wages and outsourced jobs. The financial class, including El-Erian, applauded the resulting profits. Yay for El-Erian, boo hoo American working stiff.
Also, China pegged its currency to make its good cheaper, so that Americans with falling wages could afford Chinese goods – and not American goods – and American firms moved manufacturing jobs to China, so that they could profit from cheap wages. The financial class, including El-Erian, applauded the resulting profits. Yay for El-Erian, boo hoo American working stiff.
No wonder people are resentful at El-Erian’s lecture on how American working stiffs are somehow to blame for this debt binge (as if falling wages had nothing to do with it) and now have to prepare – for more falling wages. Oh yeah, also falling asset values.
Yay for El-Erian, boo hoo American working stiff.
Just remember, our financial markets are the deepest and most liquid in the world. Or something.
Americans (working stiffs) have elected a government that fostered this mess. The electorate is still looking for those same politicians to solve all our problems. We get the gov’t we deserve and we will now pay the price for our shallow and short-sighted voting record.
Washington collects $3 trillion per year in taxes and fails to solve problems with it. Furthermore at least half the gov’t says $3 trillion isn’t enough.
Nothing will improve as long as we give so much of our money to waste.
to quote Ernest Shackleton, “We are our own rescue party”.