Surveillance: U.S. Response Should Model Others, Stiglitz Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 15 April 2020
⏱️ 30 minutes
🧾️ Download transcript
Summary
Joseph Stiglitz, Columbia University Professor, says Trump's decision to withhold W.H.O. funding is like defunding a fire department in the middle of a fire. Lauren Sauer Johns Hopkins University Assistant Professor of Emergency Medicine, says a coronavirus vaccine for the general public is likely one year away. Ken Leon, CFRA Director of Equity Research, says there is real risk in commercial real estate and construction at this time. Bill Priest, Epoch Investment Partners Executive Chairman and Co-Chief Investment Officer, says don't expect any buybacks by any U.S. bank this year.
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Transcript
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| 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 | Jaley, we bring you insight from the best in economics finance investment and international relations find |
| 0:35.2 | Bloomberg surveillance on Apple Podcasts soundcloud bloomer.com and of course on the |
| 0:41.5 | Bloomberg. |
| 0:46.6 | Jo, I want to cut right on Columbia University. Joe, I want to cut right. |
| 0:47.8 | We're going to talk about what's going on right now, |
| 0:49.9 | but Joe, I want to go back a small 40 years to Grossman Stiglitz. |
| 0:55.8 | And in it, there is an equation, folks, which |
| 0:58.5 | is the simplest equation in all of economics. |
| 1:02.4 | U equals |
| 1:03.2 | Theta plus epsilon. |
| 1:05.1 | Epsilon is the unobservable. |
| 1:07.0 | It's what we can't see. |
| 1:08.8 | Joe Stiglitz became acclaimed for this. |
| 1:11.6 | Joe Stiglitz, have you ever seen an epsilon like right now? |
| 1:16.3 | Have you ever seen the unobservable that we see in this pandemic? |
| 1:22.4 | We've never seen a shock as big as we have, but the interesting |
| 1:29.1 | thing is after the shock has hit we can trace out some of the consequences and what I find a little |
| 1:38.9 | disappointing is that we haven't been doing that second round. |
| 1:43.2 | The shock, we could not have anticipated, |
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