We all have our favorite podcasts, and I would like to share one that’s near the top of my list - The Prof G Pod with Scott Galloway.
Galloway is a marketing professor at New York University, best-selling author and entrepreneur who provides lively and at times hilarious commentary and interviews on a wide range of business and investing issues. You can also count on him to provide life lessons on a wide range of topics outside the workplace.
In this podcast (click on Play button up top), he interviews Mark Zandi, chief economist for Moody’s Analytics, on why he think it’s the overall U.S. economy could avoid a recession in 2023. Zandi believes the U.S. housing market is already in a recession, but says that other economic indicators that have accurately pointed to the most recent recessions aren’t sounding the warning sirens yet.
I respect Zandi’s take on the U.S. economy and have never forgotten a presentation he did at a NAHB economic outlook shortly before the Great Recession. He was the only economist presenting that day who predicted a recession in the months before Wall Street’s financial meltdown in 2008 because of the lax lending standards touched off the subprime mortgage debacle. All of the other economists on the program were go-go-go on the housing market and the economy.
Zandi also lays out his thesis that a recession is not a done deal in a recent opinion piece in the Philadelphia Inquirer.