Transcript: Jay Newman on the Coming Crisis for Emerging Markets

Emerging markets are facing a lot of challenges. The dollar's strength has put a lot of pressure on governments that have borrowed in foreign currency. Food prices are going up. Emerging markets often have to subsidize or import these things. If you put it all together, you have a toxic mix that is facing developing nations. Jay Newman is a long-time debt specialist and a former portfolio manager. Jay was able to go head-to-head with Argentina after the country failed to pay its debts. He gives us his thoughts on how foreign investors should approach the markets in this episode. Jay just published his first novel, a financial and political thriller called'Undermoney'.

Jay Newman talked about the coming crisis.