Last week I was lucky enough to get invited to Nomura’s New York offices for a meeting with Lewis Alexander, the firm’s Chief U.S. economist.
I got served sushi, tea, and fresh fruit, as I listened to Alexander present his outlook for the U.S. economy, and go over the major challenges coming up later this year as we hit the most talked-about “fiscal cliff.”
As Alexander put it, the U.S. economy is in the crosshairs thanks to a combination of slashes to spending and rising taxes. It’s possible if things go badly that we could lose almost 5 per cent of GDP.
Nomura has kindly given us permission to reproduce his slideshow here. It gives a nice look at the current state of things and the risks coming up.
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