Alpert, Noreen, Luschini on Economy, Debt, Deficit
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March 22 (Bloomberg) — Cliff Noreen, president of Babson Capital Management LLC, Dan Alpert, managing partner at Westwood Capital LLC, and Mark Luschini, chief investment strategist at Janney Montgomery Scott LLC, talk about the U.S. economy and corporate profits, the credit market and student debt, and the political debate over the federal budget deficit. They speak with Pimm Fox on Bloomberg Television’s “Taking Stock.”
6 Responses to “Alpert, Noreen, Luschini on Economy, Debt, Deficit”
Alpert, Roubini and Hockett presented "The Way Forward" at the New America Foundation in October 2011. I find it the best and most comprehensive plan for recovery. As he shows in this interview, with debt levels back to 2007 levels the economy is not in a sound position. As he said, we're in a supply glut and a demand drought. He states $53 trillion in total debt exposure, financial corporations make up 38% of that debt, far outpacing government, consumer, and non-financial corporate debt.
My favorite Warren Buffett quote is this: The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.
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