Practical analysis for investment professionals
23 July 2014

Debt and Secular Stagnation: Amir Sufi Discusses the US “Recovery” (Video)

Posted In: Economics

The global financial crisis of 2008 continues to weigh on the US economy. According to Amir Sufi, professor of finance at the University of Chicago Booth School of Business, GDP growth in the United States has been unable to return to pre-crisis levels, and its trajectory may have been permanently altered.

In his presentation at the 2014 Financial Analysts Seminar in Chicago, Sufi discussed how Federal Reserve actions, including quantitative easing, have led to increased prices for financial assets. However, post-crisis economic growth in the United States may not be sustainable, especially if it is due to a situation in which “subprime lending drives spending.”

You can watch the full video of Sufi’s presentation below to hear his discussion about secular stagnation and what it means for long-term economic prospects in the United States:

Sufi explores these ideas in greater detail with his coauthor, Atif Mian, on their website, House of Debt.

Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute.

About the Author(s)
Peter M.J. Gross

Peter M.J. Gross was an online content specialist for CFA Institute, where he managed blogs for the CFA Institute Annual Conference, European Investment Conference, and Middle East Investment Conference. Previously, he worked at Hampton Roads Publishing Company and at MFS Investment Management. Mr. Gross' articles have been published by Enterprising Investor, City A.M., Seeking Alpha, and The Hook, and his work has been highlighted by Real Clear Markets. He holds a BA degree from Connecticut College.

4 thoughts on “Debt and Secular Stagnation: Amir Sufi Discusses the US “Recovery” (Video)”

  1. G says:

    The Audio cuts out when the interviewer asks questions to Prof Sufi. Any chance you can get this fixed ?

    1. Peter M.J. Gross says:

      Thanks for bringing the audio issue to our attention.

      I’ll check with our A/V team to see if anything can be done, but we might be limited by equipment issues experienced on site.

  2. Andrew Arbenz says:

    Excellent presentation!

  3. Tim says:

    Read the book. Good book but I don’t understand how the author can discuss wealth inequality high stock prices and not mention corporate stock buybacks.

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