Erik Townsend welcomes Satyajit Das to MacroVoices. Erik and Das discuss:
- The US as the cleanest shirt in a very dirty laundry basket of economies, and what it portends for the USD
- Emerging market debt and how it should be dealt with if interest rates rise
- The difference between a cuclical downturn and a structural shift, and how policy should respond
- The problem with "emergency measures" becoming permanent policy
- A global population obsessed with perpetual incremental improvements to living standards
- Negative interest rates as a form of taxation
- Malinvestment in China, and how it exacerbates the global debt problem
- How China might deal with this round of over-indebtedness, and what's different this time
- How the global economy will be impacted by a slowdown and shift in focus in China
- Gold as a currency, as a hedge, and as a "matter of faith"
- The potential for the entire global economy to "turn Japanese"
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Satyajit Das has worked in financial markets for over 35 years, as a banker, a corporate treasurer and now as a consultant and author. His latest book is 'A Banquet of Consequence' (published in February 2016). It will be titled 'The Age of Stagnation' in the US and India to increase confusion and avoid it being mistaken for a cookbook. He is also the author of 'Traders Guns and Money', 'Extreme Money' and in the distant past (which he repudiates) a number of reference books on derivatives and risk-management. He also writes the Das Capital Column in The Independent.