Torsten slok biography of albert
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Transcript: Apollos Torsten Slok
The transcript from this week’s, MiB: Apollos Torsten Slok on the US Economy & Trump , is below.
You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here.
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This is Masters in business with Barry Ritholtz on Bloomberg Radio.
Barry Ritholtz: This week on the podcast, our returning champion, Torsten Slack, chief economist at Apollo. You know, most of the economists that youre probably familiar with havent really had a good handle on the state of the economy over the past couple of years. They have been expecting recessions, theyve expected contractions. They kind of missed the surge in inflation, they missed the collapse in inflation. There arent a lot of economists who got it more right than Torsten Slack. Not only has he been appropriately bullish about whats going on in the economy, why we werent really in danger of a recession anytime over the past couple of years. I, I disagree with his forecast for this year, which is 0% chance of recession. Hey, I never put a 0% chance on anything. But still hes communicating how wrong everybody
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Just Think, by Marco Annunziata
My thoughts go to all those who have been impacted by the heartbreaking tragedy in Los Angeles.
Lots to think and talk about, with another strong US jobs report, an economic and financial meltdown in the UK, Trump threatening to annex Greenland and the Panama Canal while taunting Canada, Facebook announcing it will abandon its censorship practices (thereby admitting…). The new year is off to the races, with plenty of noise and volatility; the challenge will be to distinguish the substantive issues from the distracting red herrings — and to spot where what looks like a red herring might hide a substantive issue.
Needless to say, President Trump can be counted on to provide lots of noise, both directly and through the (over)excited reactions of his critics, so let’s start with the potential economic moves of the incoming US administration. Bold and boisterous threats of tariffs and deportations have attracted most attention, but I will argue that they are red herrings relative to fiscal policy and deregulation.
Tariffs — especially large across-the-board tariffs — are bad policy. Tariffs are taxes, they raise costs and prices, and cause distortions. But they will not re-ignite inflation and derail growth as the critics warn. Tariffs ca