Brazil, Russia, India and China were supposed to reshape the economy in the early 2000s. But that all changed after the financial crisis.
Brazil, Russia, India and China were coined the BRICs in 2001 by Jim O'Neill, then chief economist at Goldman Sachs. For a while, everybody wanted a piece of the fast-growing emerging markets. But a few years after the financial crisis, the economies started diverging.
Former Goldman Sachs chief economist Jim O'Neill says that the rise of the Chinese consumer could be a good thing for the U.S. economy. Some concerns of globalization may be warranted, but O'Neill says he is worried that some western policy makers see this as "a zero sum game," which could be damaging.
Goldman Sachs' former chief economist breaks down potential threats to the global economy that could lead to the next recession. O'Neill says the global economy is slowing down and "if something went really, really badly wrong in China" it could cause major disruptions. But there are things that policy makers can do to stave off the next recession. But policy makers do have some flexibility to stave off the next potential recession.
Nobel Prize winner Robert Shiller says that despite a strong housing market since 2012, homebuyers do not seem as excited. Low unemployment rates in the U.S. are helping drive the market up.
Nobel Prize winning Yale economist Robert Shiller invented the Case-Shiller Home Price index. He explains why homebuyers do not seem as excited these days despite the fact that the housing market has been strong since 2012.
Robert Shiller says that the state of the economy, housing and stock markets, combined with continued low interest rates, could mean the U.S. is due for a recession. However, he says that human behavior makes it very difficult to make predictions.
Nobel Prize winning economist Robert Shiller says that the long expansion in the economy, housing and stock markets, combined with continued low interest rates, could mean the U.S. is due for a recession. However, he says that human behavior makes it very difficult to make such predictions. The Trump administration and extreme weather events haven't affected markets...yet.