We recently asked Wall Street’s most brilliant people for what they considered to be the chart of the year.
However, when we reached out to PIMCO’s Mohamed El-Erian, he sent us a cartoon instead.
“A local artist (Devin Valdana, a grad student at Chapman) prepared it based on these themes which I provided,” said El-Erian, who used the image in his Bagehot Lecture at The Economist‘s Buttonwood Gathering.
Seeking to leave behind the darkness of the global financial crisis, bold central bankers are leading everyone into still-muddy and unchartered territory. The outlook is uncertain. The traditional map is of little use. They are pulling along politicians who, rather than lead, are bickering and dithering. Then there are the citizens. Confused and uncertain, they are being pulled along reluctantly. And some (e.g., Greek citizens) are disengaging, having lost trust in both policymakers and politicians.