china earlier. look at what s going on in europe. the whole world s sinking into recession. it s hard for us to stay out of it. there s no chance that jay powell and crew can stick a soft landing? is that even a narrow possibility? oh, absolutely it s a narrow possibility. i mean, it s very hard to know what s going to come around the corner. we ve never seen anything like this. yes, it could happen, but i think the window is narrowing, and particularly after last week s wage gains. you ve seen the markets react very negatively. not just because they think interest rates are going up but they think the recession is really coming. some of the longer term interest rates have started falling sharply because they think eventually at the other end of this the federal reserve is not going to be raising rates, they re going to be cutting zblem economy that is strong but unsustainable. exactly. ken roblox, rogoff, thanks f
raided from america s budget for the war on terrorism. with or without the u.s. pledge, the money available to funds like these pales in comparison to the need. according to rogoff, any significant start to an energy transition in poor countries could cost at least $1 trillion a year. these figures are daunting, but advanced nations should not look away. after all, 75 years ago this month, world leaders convened in new hampshire. up next, much of the world just got done celebrating pride month. almost 70 nations still criminalize same-sex relations. i will talk to the two lawyers who fought against such a law in india and won.
an incredible thing happened last week. honestly, it s one of the most astonishing things in recent economic history, a grad student had an assignment, rerun someone else s data and see if you can get the same results. he chose the reinhart/rogoff study. the first he sees is the crucial column in their data, the one that averages the growth rates of countries with debt to gdp ratios of 90% is wrong, it s got a mistake. the average should have contained data from rows 30 to 49, but instead only averaged data from 30 to 44. five missing rows, all because of a typo, apparently. it meant poor belgium, for instance, was left out. not only that, the author selectively omitted a number of countries in the post-world war ii era, canada, denmark, australia, austria. so, here s the punch line, if you correct the spreadsheet error and put the intentionally omitted countries back into the data set, the entire statistic falls apart. instead of countries with the
and what they said, they know it s coming. every country that s had a debt crisis has ended up with an inflation problem. an incredible thing happened last week. honestly, it s one of the most astonishing things in recent economic history, a grad student had an assignment, rerun someone else s data and see if you can get the same results. he chose the reinhart/rogoff study. the first he sees is the crucial column in their data, the one that averages the growth rates of countries with debt to gdp ratios of 90% is wrong, it s got a mistake. the average should have contained data from rows 30 to 49, but instead only averaged data from 30 to 44. five missing rows, all because of a typo, apparently. it meant poor belgium, for instance, was left out. not only that, the author selectively omitted a number of countries in the post-world war ii era, canada, denmark,