Kalb Says GFC Isn’t Over

Ashby Monk

Scott Kalb is the Chief Investment Officer of the Korea Investment Corporation, and he is convinced that the global financial crisis (GFC) is far from over. In fact, in this videotaped interview, he goes off on a rant about what’s still wrong with the global economy:

“Debt problems have increased and we can see the cracks and strains showing. Many people believe we’re going to have another sovereign event before the end of the year. We’ve got massive refinancing, restructuring and debt repayment. Unemployment is high. Growth is sluggish in the developed economies. Property and housing markets are unstable. We’ve got over-heating in the developing world. Taxes are going up, fiscal spending is going down…What does this tell me? The GFC is far from over…”

Ouch…

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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