Marathon’s Richards Sees ‘That ‘70s Show’ Bringing Debt Pain

Marathon Asset Management chief executive officer Bruce Richards is predicting the type of recession that brings him back to his youth, and will generate more than $500 billion of distressed debt.

“I think back to that TV show with Ashton Kutcher, ‘That ‘70s Show.’ It’s going to be ‘That ‘70s Show’ all over again because that’s the last time you saw inflation raging alongside an economic recession,” Richards said in an episode of Bloomberg Intelligence’s FICC Focus podcast hosted by Noel Hebert.

For the first time in decades the Federal Reserve is hiking interest rates even amid ...