Surveillance: No End in Sight for Slowdown, Zingales Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 2 October 2019
⏱️ 34 minutes
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Summary
Luigi Zingales, University of Chicago Booth School Finance Professor, says the global slowdown is going to continue until Germany delivers a major fiscal package, which is unlikely to happen any time soon. Rosalind Mathieson, Bloomberg International Government Executive Editor, says Prime Minister Johnson will crash out if he gets a no-deal Brexit. John Stoltzfus, Oppenheimer & Co. Chief Investment Strategist, thinks that the demand for equities is likely to increase. Andrew Hollenhorst, Citi Global Markets Chief U.S. Economist, details the current growth scare saying, “it’s harder to attribute this growth scare to something transitory.” David Rubenstein, Carlyle Group Co-Founder & Host of Bloomberg's Peer to Peer Conversations, reflects on his conversation with Justice Ruth Bader Ginsberg who reiterated her belief in incremental justice.
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Transcript
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| 0:00.0 | With Bloomberg you get the story behind the story, the story behind the global birth rate, |
| 0:04.7 | behind your EV batteries environmental impact, behind sand. Yeah, sand, you get context. |
| 0:10.8 | And context changes everything. Go to Bloomberg.com to get context. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene. |
| 0:28.0 | Daily, we bring you insight from the best in economics finance investment and international relations |
| 0:34.4 | find Bloomberg surveillance on Apple Podcasts soundcloud bloomer.com and of course on the |
| 0:41.4 | Bloomberg. So more science emerging that the global manufacturing recession has arrived in America. |
| 0:47.0 | One question maybe two, does it become more entrenched and does it spread? |
| 0:51.0 | I'm pleased to say that joining us here in New York City is Luigi's |
| 0:54.1 | Angales University of Chicago Booth's school finance professor. |
| 0:57.3 | Good morning to professor. |
| 0:58.7 | Good morning. |
| 0:59.3 | Help me answer that question or those questions. |
| 1:01.7 | Does it become more entrenched and does it spread |
| 1:03.9 | beyond manufacturing? I think that the good news is that the rest of the economy seems to be |
| 1:09.8 | pretty strong and so I don't think it will spread as of today but I think it's important to |
| 1:17.4 | keep an eye on what's happening on the trade front because if the things were |
| 1:21.4 | to deteriorate there then I think that would be more of a problem for the US economy |
| 1:26.7 | At the epicenter of all of this was a weak ISM an ugly ISM beneath the surface as well |
| 1:31.2 | The weakest we've seen in around about 10 years. |
| 1:34.2 | And when you look at the complaints from sector to sector, it's not about the cost of capital, |
| 1:38.4 | it is about trade. |
| 1:39.8 | With that in mind, what can the Federal Reserve, what can Central Banks actually do to insulate these economies from the trade headwinds? |
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