Outlook for the U.S. Economy: Distilling the Credit Crisis and Lessons from Japan
There is no shortage of culprits to go around when searching for contributors to today’s mired U.S. financial markets, including lax regulators, conflicted credit agencies, and mortgage brokers and banks smitten with the rewards of securitization. Greed, the absence of due diligence and the notion that home values would forever rise have combined to strip the U.S. financial markets of much-needed liquidity and decades of trust. Comparisons of the current U.S. crisis to Japan’s 1990s post-bubble woes abound. Like Japan, initially mild forecasts in the U.S. have now turned darker. Many economists are citing a new wave of home foreclosures on the horizon that will lead to stagnant or negative growth, with rising unemployment and inflation well into 2009. Our experts discuss the root causes of the current financial market turmoil and offer comparative analysis of and lessons learned from Japan’s “lost-decade,” as well as assessments of the future of the U.S. and global economies.
Richard Katz, Editor-in-Chief, The Oriental Economist Report
Christopher Mayer, Senior Vice Dean and Paul Milstein Professor of Real Estate, Finance & Economics Division; Research Director, Paul Milstein Center for Real Estate, Columbia Business School
Ann Rutledge, Founding Principal, R&R Consulting
Moderator: Vincent Truglia, Managing Director of Research, NewOak Capital LLC
12-12:30 pm Registration & reception
1-2:30 Panel discussion
Admission: Corporate members are entitled to a designated number of free admissions to this event, based on their company’s current membership level. These reservations must be made at least 48 hours prior to the event. Additional corporate registrants and Japan Society individual members at the Patron Circle level and above pay the discounted corporate member rate of $45 for lunch and lecture, $10 for lecture only. Nonmember admission: $65 for lunch and lecture, $15 lecture only. The academic and government admission rate is $30 for the luncheon and $10 for lecture only. When payment is required, prepayment must be made, or registration secured, with a credit card. All registrations and cancellations must be made at least 48 hours prior to the event. Substitutions are welcome.
Registration for this event is full.
- Thursday, October 2, 2008
- 12:00 pm