The 2011 Milken conference launched today (full line up here) and while nothing revolutionary is usually exposed during the several days of its duration (which however does not prevent it from hosting some of the better LA parties in May), it does invite some of the more luminary thinkers of our time. As such it is no surprise that as part of its inaugural panel for this year's event, "The Shape of Things to Come: Understanding the New Global Economy" speakers were Pimco's Mohamed El-Erian and Guggenheim's Scott Miners both of whom very often grace the pages of Zero Hedge. Additionally, the panel saw the presence of Laura Tyson, former Chairman, National Economic Council and Rubern Vardanian Chairman and CEO of Russia's Troika Dialog. Follow 77 minutes of solid view and opinions by some of the more controversial people in a climate of unanimous, and often times foolish, consensus.
From the panel's intro:
The cataclysm is behind us — but the view looks dramatically different from the other side. Global Conference 2011 kicks off by bringing the outlines of the new global economy into sharper focus. Emerging economies are flexing their muscle and attracting vast flows of capital, while the developing world begins to seem like a lumbering giant. What are the economic relationships, trade flows and demographic trends that will define the future? How will global institutions manage the world's web of interconnection and risk? How permanent are these changes? Who are the players to watch?
And a quick summary of the participants:
Mohamed El-Erian, CEO and Co-Chief Investment Officer, PIMCO
Scott Minerd, Chief Investment Officer, Guggenheim
Laura Tyson, S. K. and Angela Chan Chair in Global Management, Haas School of Business, University of California, Berkeley; former Chairman, National Economic Council
Ruben Vardanian, Chairman and CEO, Troika Dialog
Jared Carney, Executive Director, Program Development and Marketing, Milken Institute