Sunday, March 7, 2010
Pimco's El-Erian Interview on U.S. Economy
This is a video interview with Pimco's El-Erian about how the U.S. economy will experience a "bumpy" road to recovery in the near future. He claims that the recovery will be characterized by credit markets becoming "unclogged" and spending begins to increase. El-Erian also speaks about how it is a difficult time for policy makers because there is so much being asked of them at this time.
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i like how he strongly emphasized that we need to unclog or credit market because the banks all have the money to lend out and help the economy but it is to much of a risk. with high default rates on loans and low intrest rates to make profit off of it just isn't worth lending for the banks.
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