- Audible Audiobook
- Listening Length: 9 hours and 15 minutes
- Program Type: Audiobook
- Version: Unabridged
- Publisher: Random House Audio
- Audible.com Release Date: March 29, 2016
- Language: English
- ASIN: B01D1TYVF6
- Amazon Best Sellers Rank:
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The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse Audible Audiobook – Unabridged
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I agree that we are approaching an inflection point but the T-junction Mr. El-Erian describes is narrowly focused on financial markets whereas I believe the inflection point will be much broader and encompass major changes in society. Mr. El-Erian cites ten big challenges before narrowing the proposed policy foci down to four. But Mr. El-Erian makes no specific policy proposals except for some organizational changes to the structure of the IMF (where he once worked). For someone with Mr. El-Erian’s presence on the financial world stage, I was hoping for something more tangible. Instead he seems to digress into recommendations on decision-making techniques that sounded like they were coming from a McKinsey consultant (I kept waiting for the PowerPoint presentation). The decision-making techniques are all good suggestions on how to reach a decision but I was hoping that Mr. El-Erian could throw out some proposals to be considered.
Don’t get me wrong. This is a very good book by one of the top insiders to global financial circles. It has great analyses of the situation in financial markets and has some great insights. I was just hoping for a bit more.
There were two things I didn't like. One was El-Erian's use of language. For example, he has ten issues to which he devotes a chapter each. Each of these chapters starts with an italicized issue. This would work very well, except each time he uses run-on sentences and superfluous adjectives that actually muddle the issue. I found myself going back and restating the issues in a clearer fashion. Second, he repeatedly says that there are specific things that households should do to prepare for the anticipated "T-junction" and to help influence a positive outcome in it. Unfortunately, he never articulates what these things are. Ending with the vague ideas of optionality, agility, and resilience doesn't help me much. In fact, I'd wager many people reading this book don't use the word "optionality" in their daily lives and would be unclear what actions they'd need to take to implement that concept.