Mohamed El-Erian’s The Only Game in Town

The US stock market has just endured its worst start to a year on record. The fear is that the US may be close to recession, with baleful consequences for the global economy – and still worse, that the world’s policy-makers are out of ammo with which to respond.

What better moment could there be for a book subtitled “Central Banks, Instability, and Avoiding the Next Collapse”? And who better to write it than Mohamed El-Erian – the man who captured the essence of the present era of low growth, low inflation and low investment returns better than anyone else with his memorable concept of the “New Normal”?

I reviewed Mohamed El-Erian’s new book The Only Game in Town in the Financial Times on January 23, 2016.  You can read the review here.

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