Global Economics with Mohamed El-Erian (Part One)
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 27 April 2017
⏱️ 34 minutes
🔗️ Recording | iTunes | RSS
🧾️ Download transcript
Summary
I never take it for granted how fortunate I am to have my job. Let’s be honest, it’s not really a job when you’re doing what you love. And that’s what I get to do as a journalist covering personal finance and economics. With the “job” comes the opportunity to meet many smart, interesting and influential people, some of whom are legit heavyweights within their specific industries and in the world at large. Today’s Better Off guest, the esteemed Dr. Mohamed El-Erian, falls into that category. Of all of the economists and financial services executives that I have been privileged to interview, Mohamed is one of the few who can distill and communicate complicated ideas in a way that all of us can understand. That’s why we’re keeping him around for two episodes...there’s just too much knowledge in his brain to squeeze into one show. While you may have seen or read Dr. El-Erian before—as a guest on CNBC, a LinkedIn Influencer, a columnist for “Bloomberg View,” a contributing editor to the “Financial Times,” and the chief economic advisor for Allianz—our conversations on “Better Off” are rare opportunities where he can delve into a myriad of big picture economic topics for more than the three minutes usually allotted to his appearances. Mohamed’s bestselling book, “The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse,” will be released in paperback next month. I encourage everyone to read it, because it was one of my top picks for economics/business books last year. In part one of the interview Mohamed touches on the three things he believes every investor needs to be a successful: -An understanding of fundamentals -An understanding of mathematics and discounted cash flows -A solid gut instinct If you only possess one of these attributes—gut instinct—don’t worry! We also discuss passive investing as an alternative to stock picking. As the new administration and Congress roll out various fiscal policies, it was a treat to hear what’s on Mohamed’s wish list. There are measures that the government can take to foster a more inclusive U.S. economy, help boost wage growth and improve the current tax system. And of course, we wouldn’t let him go before getting this UK-educated economist’s view of Brexit! Quick favor to ask...please take two minutes and fill out our listener survey...it's painless and literally takes two minutes, three max. Thank you! https://betterment.qualtrics.com/jfe/form/SV_0rcT1aOrD8K9sy1 “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in iTunes. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. For a recap of every episode, visit https://www.betterment.com/resources/topics/inside-betterment/better-off-podcast/.
Transcript
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| 0:00.0 | Hi, this is Jill Schlesinger, host of the Better Off Podcast on today's episode, |
| 0:07.0 | Mohammed L. Arion, we're talking about big picture stuff, monetary policy, the stuff the Fed does, fiscal policy, what the politicians |
| 0:15.4 | can do, and of course everyone's favorite topic, taxes. |
| 0:18.7 | It's very important to understand that there's an efficiency element to the tax system, but there's also a very |
| 0:25.2 | important redistributive element to the budgets and fiscal policy. |
| 0:28.9 | So you need to combine both, and I think you can. |
| 0:32.4 | Welcome to the Better Off Podcast sponsored by Betterment, the smarter way to invest your money. |
| 0:37.0 | Today, we have one of my favorite people who I have met since this new career in media, |
| 0:45.0 | Mohammed L. Arion. |
| 0:47.3 | Now, Mohammed, you may have seen him on various TV outlets |
| 0:50.8 | or read his work. |
| 0:52.3 | The thing I love about him is he actually takes economics, |
| 0:57.3 | big picture stuff, boils it down in a way |
| 1:00.4 | that everyone can understand, and it's so fantastic and he's so smart. |
| 1:05.2 | Now he also has this really wild phrase that he and his PIMCO, this is a firm he used to work |
| 1:11.2 | for, he and his Pimco colleagues actually coined the phrase |
| 1:15.2 | the new normal to describe what they thought was likely to be a slow growth economic recovery |
| 1:22.0 | after the financial crisis and the recession. |
| 1:24.9 | What's amazing is how long and sluggish this period would be. |
| 1:29.0 | Mohammed actually saw that, and I'm wondering what else he sees. That's why we're bringing him on the show right now. |
| 1:35.0 | Before we get to the interview, just a quick favor. |
| 1:38.0 | Could you hop on to better off podcast.com and take our survey? Mark says it takes literally a few minutes. That's it. |
... |
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