PROJECT M
 

Getting to the new normal

If the global economy was as simple as Monopoly, then the winning strategy would be clear

Mohamed El-Erian
© Andy Martin

Getting to the new normal

If the global economy was as simple as Monopoly, then the winning strategy would be clear

Mohamed El-Erian

Thinking Ahead

One of the starkest images to emerge after the crash of Lehman Brothers is of Mohamed El-Erian calling his wife and telling her to go to an ATM and withdraw cash. When she asked why, he replied, “Because I don’t know if the banks will open tomorrow.” El-Erian, one of the world’s most respected financial and economic analysts, tells the story to illustrate his point that, as he explains it, “this is not a crisis in the system, but of the system.” How this arose, and where he believes it is going in the years to come, is outlined in the award-winning book When Markets Collide: Investment Strategies for the Age of Global Economic Change (McGraw-Hill, May 2008).

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