El-Erian: 'Whole Series of Damage' Being Done in UK

"This is an even more complicated exit and it doesn't help that central banks are late so I just think we have to buckle our seatbelt even tighter," Mohamed El-Erian, chief economic adviser at Allianz and Bloomberg Opinion columnist, says during an interview with Jonathan Ferro on "Bloomberg The Open." El-Erian's opinions are his own.

[@harukrentz435]

Elect bunch of clowns expect series of circus.

[@excellentsmithers6417]

These two need their own show.

[@dragon.fromindia3235]

Europe should go for their own digital currency...And save paper

[@grahambuckingham7295]

The current 2.25 percent is no brake on 10 percent inflation. Why is the Boe so far behind? Should have been 5 percent a year ago when it was obviously not transitory.

[@Sunny61800]

Quantitative confusion 😂. BOE is a joke

[@bradleyqueen3879]

The fed no different. Central banks are a joke. No credibility left.

[@praveenspike]

Bloomberg needs to put El-Erian in panel with many more experts and economists, The outlook of truss still going with the plan and not reversing it looks extremely dire and post Brexit it will be utter chaos. This panel will give all the investors a better view of the futures.

[@Mithril_Antimarr]

Wonder how long it will be before the BOE meets to raise interest rates? The BOE will deny it is going to do this right up until they cave in and face reality, could be anything from 1 to 3 weeks.

[@rooftime4730]

Its all free, free, free, free, free, free, free, free , free, free, free, free, free , free, free .Choke on it now.

[@fufuandyam]

The UK market is being driven down by the eu and US because our mini budget opens up the UK to be more attractive to do business with. Lower cooperation tax, and lower income tax is a good thing in my opinion. In my life time, and I'm 46 years old by the way, I've never seen this kind of reaction to lowering tax for the rich. I'm seeing all these rich people complaining about the budget when it favours them. When rich people dont want a tax cut something must be wrong. Most are EU remainers that want Britain to fail so we can rejoin the EU.

[@AAA19999]

The former coloniser in chief is joining the ranks of the countries it took over ..

[@richardzimmermann9372]

“We’ve discovered that this is a complicated exit from east money.” Discovered?! How have we not known this along?

[@Commentthat]

It's clear that these countries do not desire to work together. They desire absolute power

[@dragon.fromindia3235]

Europe should go for their own digital currency...And save paper

[@JaePlay]

welp, El Erian called it.

[@chriscuntlicker796]

Natural Gas is gonna go up because if it doesn't i'm gonna have to go to level 4.

[@srikark3532]

Agree, U.K. policymakers should prioritize energy independence from their to-do list. The faster the energy independence the better rebound for the U.K.

[@vishalsaroha1489]

UK thus would join the likes of Japan in effectively easing and harshly devaluing its own currency, decoupling from actions of US Fed, which may eventually also capitulate

[@deesus1085]

Decoupling? 😂

[@drscopeify]

@@deesus1085 Yes the UK central bank stopped following the US FED some time ago and now the US Fed has much higher interest rates than UK. This is causing money to leave the UK and all other countries.

[@malekmoqaddam5806]

It is clear Muhammad predicts recession is inevitable. Raising rates will definitely cause markets to decline significantly.

[@jakw97]

The inmates is running the prison. Crazyness, not good when they are also going to war.

[@jihanjude6634]

UK is in serious trouble.

[@cosmicbutthairs]

BOE had calls on the SPX and will use the profits to figure out the GILT issue.

[@HakunaMatata225]

Thats the most reasonable explanation! :)

[@tomfries1445]

however, a new “discontent winter” is coming. Let’s see how labor can take back control as Tory faces what they were facing in ‘79. They should let everyone who still can vote to get back to the mainland and vote off conservative. Labor’s biggest opportunity has arrived.

[@lemmingsgopop]

US and UK don't have comparable problems.

[@slovokia]

Sooner or later gold is going to start stirring if central banks continue to suppress interest rates while inflation remains high. Markets are going to ultimately call the bluffs of central bankers and spendthrift governments.

[@piccalillipit9211]

I converted all my savings into physical gold bars in a safe on the wall 3 weeks ago. I just had a gut feeling...

[@davidkennedy8929]

@@piccalillipit9211 I suspect that when the housing market collapse’s, stocks go down substantially, and crypto goes to zero, also government borrowing everywhere becomes unmanageable then only gold will be left standing as the asset of last resort!

[@deesus1085]

@@piccalillipit9211 that’s sad because gold is going to fall more first. you’re too early.

[@andrewdamico9632]

Try getting gold when everyone wants it. You won’t be able to get an once

[@piccalillipit9211]

@@deesus1085 Doesn't bother me - I dont need it for 16 years

[@vishalsaroha1489]

it may look like a turmoil in short term. Effectively easing in front of rate rises of US. Hoever, the drop in Pound, a nightmare for traders, may end up making a net competitive exporter finally.This may be the final needle to be threaded. The realization however that UK is a weakened entity must be accepted.

[@deesus1085]

Erdogan is doing the same thing. Not working out so well. Problem is that they still have no trade deal with the eu or usa post brexit. Confidence is shot until this happens.

[@jeffotoole4509]

The UK just became a very expensive emerging banana republic today. I am in Canada and we are next on the list to join the Banana list. Thank you Justin Trudeau for that designation.

[@tkk3852]

UK is more developed than Canada. Have some respect.

[@khalidhamid7448]

Anything that starts with “Look” is not good

[@dragon.fromindia3235]

Europe should go for their own digital currency...And save paper

[@danielbarnes6873]

Good I can't wait to see the max damage its going to be glorious

[@marekkolenda2803]

Fed start QE printing new currency weaker US $ and lower interest rates next year.After inflation go down

[@leinad5243]

Staflushin....is here...wat policy they gonna use...printing press to buy own debt again...QE 7 8 9 10

[@phil20_20]

Yeah, the Fed caused a lot of unnecessary pain by waiting so long despite clear signs of inflation and recovery. A Zero interest economy is unsustainable long term, and so earliest adjustment should have been the target all along.

[@greigsanderson]

Infiwation?

[@ahmedalsharman]

Gold will trade at $3000 next year .

[@Vl7248]

That’s been said since 2010

[@ahmedalsharman]

@@Vl7248 the USA made sure this never happened, but now they run out of any ammunition to stop Gold rise to $3000 and more .

[@deborahcurtis1385]

I think it will be good for gold explorers and producers. Those stocks will rise.

[@fuzzzeballs]

the market is too rigged thats why they want to regulate bitcoin to control that cash stream too

[@dr.raymond8]

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[@dr.raymond8]

I can’t drop her info here, Just do a web lookup using her full name and connect to her official webpage .

[@melyndaulf6199]

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[@melyndaulf6199]

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[@dragon.fromindia3235]

Europe should go for their own digital currency...And save paper

[@dickyr4437]

Just be careful of this El-Erian guy... when the Fed was printing and giving away money, this guy was praising the Fed all the way along and then he suddenly changed the tone after the Fed started tightening ... Oh I was saying this and that and blah blah ... All BS!.

[@mohsengharib4683]

that's not true , he called it @ the right time

[@meredrums1]

September is the month of doom.

[@user-wr4yl7tx3w]

I find his logic to be sloppy at best. It’s like someone who guessed the flip of the coin correctly and can say anything, since how do you argue against someone who is right, even if he guessed it.

[@evandeer440]

He didn’t “guess” it idiot. When you are calling something for over a year and explaining every step of the way why it’s going to happen is more than blind luck. El-Erian is a phenomenal economist u should listen to him more

[@deesus1085]

You’re calling this man’s logic in the bond market sloppy? 😂🤡

[@user-wr4yl7tx3w]

@@deesus1085 YES. Be my guest, worship reputation rather than content.

[@dragon.fromindia3235]

Europe should go for their own digital currency...And save paper ..

[@isaackys]

They talk about the issues and risks but didn't offer any useful. Typical talking artists talking a lot but no substance.

[@deborahcurtis1385]

Do more research, don't expect a very complex structure which is now unravelling to be easy to understand. If you place your trust in simple explanations you're going to be vulnerable to the next shyster and bs artist. DYOR.

[@roger4880]

Please stick to woke debates in Cambridge Mo. Your ideas are not correct, just hyperbole.

[@michaelciccone5950]

Holy this guy is turning into the inflation Fauci. Why do I have to see this guy on tv everyday

[@dirtfalconi4779]

tough when they decide to actually ask someone who knows what they are talking about

[@jlvandat69]

@@dirtfalconi4779 What scares me the most is the large number of people incapable of recognizing credible, intelligent expertise. Very strange- as though a brain disease swept the country since 2016 where the infected people automatically discard intelligence and reason.

[@michaelciccone5950]

He’s not saying anything new. People have been saying this since 2021 including Larry Summers

[@dam8087]

What are your credentials exactly? Based on your comment regarding Fauci, ots safe to assume you think shit you read on Facebook equivalates to deep expertise and knowledge?

[@massonh7476]

I think this issue is way over your head Michael. Just don’t watch it.

[@albertoperin402]

Do you still like Brexit?