Since business people and consumers alike are trying to come to grips with what has happened to send our economy over the cliff, my company hosted adiscussion for clients, suppliers and friends about the causes of the recession, and prospects for the North American economy with Toby Auterson (senior economist with the Economist Intelligence Unit in London) and Warren Jestin (senior vice president and chief economist of ScotiaBank) .
I acted as host and moderator of the session which was recorded so that we could make it broadly available as a podcast. A warning . . . it is about an hour long, but filled with some fascinating history and analysis.
Some of the questions I asked them to address were:
- Are the moves being made by the world's central banks to re-liquefy the system the right ones?
- Should governments be investing in infrastructure to stimulate the economy? (In other words, is Keynes right?)
- Should we be bailing out manufacturers as have done with the financial industry, or are there long-term (moral) hazards with this approach?
- And the kicker . . . how far are we from the bottom?
If what you want is only the answer to question four, all I can tell you is . . . 2010 . . . that is, if certain things fall into place; for what those "things" are you will have to listen to the end!