Nassim Taleb on Black Monday, Fed, Market Lessons

Oct.16, 2017 -- The Black Monday crash was 30 years ago this week. "Black Swan" author Nassim Taleb was a trader for First Boston at the time. He made a lot of money while others lost fortunes. He recounts the experience with Bloomberg's Erik Schatzker.

Saudi Aramco CEO on IPO, Expansion, Shale Competition

Mar.26, 2018 -- Saudi Arabian Oil Co. Chief Executive Officer Amin Nasser discusses the upcoming initial public offering of the giant energy company, planned expansion in production capacity and competition from U.S. shale oil. He speaks with Bloomberg's Jonathan Ferro on "Bloomberg Markets: European Close."

Facebook and the Big Data Business | Counting the Cost

Joseph Stiglitz: "The Price of Inequality" | Talks at Google

Joseph Stiglitz, Nobel Memorial Prize in Economic Sciences recipient (2001) , visited Google on June 12, 2012 to talk about his new book THE PRICE OF INEQUALITY: How Today's Divided Society Endangers Our Future.

Inequality: Of The 1%, By The 1%, For The 1%

VANITY FAIR: Americans have been watching protests against oppressive regimes that concentrate massive wealth in the hands of an elite few. Yet in our own democracy, 1 percent of the people take nearly a quarter of the nation’s income—an inequality even the wealthy will come to regret.

It’s no use pretending that what has obviously happened has not in fact happened. The upper 1 percent of Americans are now taking in nearly a quarter of the nation’s income every year. In terms of wealth rather than income, the top 1 percent control 40 percent. Their lot in life has improved considerably. Twenty-five years ago, the corresponding figures were 12 percent and 33 percent. One response might be to celebrate the ingenuity and drive that brought good fortune to these people, and to contend that a rising tide lifts all boats. That response would be misguided. While the top 1 percent have seen their incomes rise 18 percent over the past decade, those in the middle have actually seen their incomes fall. For men with only high-school degrees, the decline has been precipitous—12 percent in the last quarter-century alone. All the growth in recent decades—and more—has gone to those at the top. In terms of income equality, America lags behind any country in the old, ossified Europe that President George W. Bush used to deride. Among our closest counterparts are Russia with its oligarchs and Iran. While many of the old centers of inequality in Latin America, such as Brazil, have been striving in recent years, rather successfully, to improve the plight of the poor and reduce gaps in income, America has allowed inequality to grow. » | Joseph E. Stiglitz | March 31, 2011

The Rise of Jeremy Corbyn and Class Struggle in the UK Labour Party

On Reality Asserts Itself, Prof. Panitch talks about how the Labour Party moved from being a Tony Blair party of class reconciliation and war, to a truly left mass party with more than 600,000 members that may take power

Is Donald Trump's Decision on Tariffs Likely to Trigger a Global Trade War? | Inside Story

President Trump said the US will impose costly tariffs on imported steel and aluminium. He says it's to protect US producers.

His plan has sparked outrage around the globe, with investors spooked and stocks taking a dive.

Eight nations, including Canada, Mexico, Japan, Russia and Brazil, all sold one million tons, or more, of steel products to the US in 2016.

The world's top steel producer, China, is not among them. But it is one of the leading exporters of aluminium to the US, which now imports about 90 per cent of its domestic needs.

The EU says Trump's tariffs move amounts to protectionism and is vowing to take action to defend its interests. China is calling on the White House to exercise restraint in applying the charges. But Trump tweeted that trade wars are good and "easy to win."

So how close are we to all-out trade conflict?

Presenter: Elizabeth Puranam | Guests: Philippe Legrain - former special adviser to the Director General of the World Trade Organization; Einar Tangen - an investment banker who regularly advises the Chinese government on economic and development issues; Republican political strategist Joe Watkins, who served as a White House aide to President George H W Bush