Daniel, Reinhard Rogoff, Francine discussed on Bloomberg Surveillance

Automatic TRANSCRIPT

Of the crisis the age of oversupply is clearly one daniel or put were this maybe there's like rhino reinhard rogoff and andrew ross sorkin 's wonderful too big to fail and there's other books this that and the other at the age of oversupply a really deserves a second read if you've read it before and if you haven't read it you're missing something and some of the great changes dinner albert the most frightening chart for me and francine in mostly for our children francine her grandchildren i'm sorry now children excuse me is your debt expansion it's three lines we know corporate debts up blablabla government debts up but i think a lot of people don't realize we're private debt is it's becoming what kotla cough of boston university talks about isn't it it is i mean the at this point we're back into debt cycle the real question is to what extent is that being taken on because of optimism on the part of consumers and to what extent is it just merely filling the gap between what they desire and what they earn and one of the one of the histories of the crisis or the bubble that preceded it is that so much of gdp was being supported by people pulling debt out of their homes for the most part but credit cards also counted in and this this vicious cycle of continuing to.

Coming up next