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Odd Lots

Richard Koo Explains Why The Recovery Will Be So Difficult

Odd Lots

Bloomberg

Investing, Business News, News Commentary, News, Business

4.52K Ratings

🗓️ 11 May 2020

⏱️ 42 minutes

🧾️ Download transcript

Summary

Countries around the world are undergoing an unprecedented, simultaneous real economic shock. So how should policymakers respond? Richard Koo is the Chief Economist at the Nomura Research institute, and is well known for having popularized the concept of the “Balance Sheet Recession” drawing on his work from Japan’s post-bubble era. In today’s episode, he talks about how his work applies to this crisis, what can be done to revive growth, and why the aftermath will be so difficult.

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Transcript

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0:00.0

To me, context is about pattern recognition.

0:02.8

It's connecting the dots.

0:04.4

It's giving readers an ability to synthesize

0:07.6

a number of different perspectives

0:09.2

so they can understand how the greater whole works,

0:12.0

because nothing really occurs in isolation anymore.

0:14.4

I'm Tim O'Brien and I'm the senior executive editor at Bloomberg Opinion.

0:18.0

On our platform, we ask tough questions and solve complex problems with the facts in mind.

0:23.0

Start exploring our opinion coverage and more at Bloomberg.com slash subscribe. Hello and

0:45.0

I'm Tracy Allaway.

0:48.0

Tracy I know it's sort of gosh to drag or say anything. Tracy I know it's sort of gosh to drag or say anything too positive these days.

0:57.0

Isn't it gosh to use the word gosh?

0:59.0

It's probably gosh to use the word gosh too.

1:02.0

But I kind of want to brag about something just real quickly.

1:05.2

Or sort of, you know, pat ourselves on the shoulder for a second.

1:08.1

Okay, go on. What is it? Well, I'm happy about the fact that prior to this crisis, we had a lot of guests on the podcast

1:19.6

whose expertise seems very relevant to the situation at hand now.

1:25.0

Yeah, I'd say that's right.

1:26.5

I mean, I'm trying to think of some specific names,

1:29.4

but the list is pretty long at this point.

1:32.4

No, the list is pretty long.

1:34.0

We don't have to go through specific names,

...

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