Debt, Deficits, and the Demise of the American Economy

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1118021517
Total Pages : 224 pages
Book Rating : 4.1/5 (18 download)

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Book Synopsis Debt, Deficits, and the Demise of the American Economy by : Peter J. Tanous

Download or read book Debt, Deficits, and the Demise of the American Economy written by Peter J. Tanous and published by John Wiley & Sons. This book was released on 2011-05-03 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: What investors can do to protect their investments in the next phase of the ongoing global economic collapse The United States is heading toward an unavoidable financial catastrophe that will paralyze the markets and the overall economy in ways never before seen. Some call this impending economic catastrophe a double-dip recession, others a financial Armageddon. Regardless of what it's called, it is too late to stop it. Debts, Deficits, and the Demise of the American Economy is a look at how we got here, how the crisis is unfolding, and how it will end with a stock market crash in 2012, if not sooner. Takes you through the unraveling of the collapse, starting with a wave of sovereign debt defaults in Europe Predicts a stock market decline of two to three thousand points, a run on banks resulting in a major bank crisis, and rampant inflation Provides investment strategies, including alternative investments such as timber, farm land, and oil Offers a detailed proposal to get the United States out of the crisis Debts, Deficits, and the Demise of the American Economy is a must-read, play-by-play account of the worldwide depression that is likely to unfold in the coming years.

The Deficit Myth

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Publisher : PublicAffairs
ISBN 13 : 1541736206
Total Pages : 311 pages
Book Rating : 4.5/5 (417 download)

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Book Synopsis The Deficit Myth by : Stephanie Kelton

Download or read book The Deficit Myth written by Stephanie Kelton and published by PublicAffairs. This book was released on 2020-06-09 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

Dollars, Debts, and Deficits

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Author :
Publisher : Mit Press
ISBN 13 : 9780262040853
Total Pages : 240 pages
Book Rating : 4.0/5 (48 download)

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Book Synopsis Dollars, Debts, and Deficits by : Rudiger Dornbusch

Download or read book Dollars, Debts, and Deficits written by Rudiger Dornbusch and published by Mit Press. This book was released on 1986 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This interesting and provocative collection of essays addresses most if not all of the key current policy issues in open economy macroeconomics: the strong dollar, LDC debt problems, and deficit financing. Although these three areas involve widely different policy problems, Dornbusch brings a common political economy perspective to bear on the issues, giving the essays a coherent perspective and revealing that more than ever, modern macroeconomics is useful as a framework for active policy. Professionals interested in the world economy and students of international finance will appreciate the author's strong analytical approach and the clear, cogent defense of his viewpoints. Three chapters in the book's first part, Exchange Rate Theory and the Overvalued Dollar, cover the rise in the dollar, equilibrium and disequilibrium exchange rates, and flexible exchange rates and interdependence. Those in the second part, The Debt Problems of Less Developed Countries, present three case studies in overborrowing, and discuss the world debt problem from 1980 to 1984 and beyond, and what we have learned from stabilization policy in developing countries. A concluding part, Europe's Problems of Growth and Budget Deficits, takes up public debt and fiscal responsibility, and sound currency and full employment. Rudiger Dornbusch is Ford International Professor of Economics at MIT. Dollars, Debts, and Deficits is based on three related lectures he gave in 1984 at the University of Leuven in the Gaston Eyskens Lecture Series. Dornbusch is the editor with Mario Henrique Simonsen of Inflation, Debt, and Indexation, available in paperback from The MIT Press.

Freedom from National Debt

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Author :
Publisher : Hillcrest Publishing Group
ISBN 13 : 1626520380
Total Pages : 105 pages
Book Rating : 4.6/5 (265 download)

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Book Synopsis Freedom from National Debt by : Frank N. Newman

Download or read book Freedom from National Debt written by Frank N. Newman and published by Hillcrest Publishing Group. This book was released on 2013-05-02 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: America is unjustly worried about "national debt," believing it can no longer do the many things that mark it as a great nation. Discussions of national undertakings including infrastructure repair, jobs programs, military modernization, and disease prevention - have all been stifled through fear of insolvency. America has convinced itself that it can no longer afford, as a nation, to do many of the productive things that it has done so well over its history. That's a great shame, because America remains a nation of tremendous resources in every sense, and the underlying assumptions about U.S. government financial instruments are not correct. America can never face the debt problems of nations like Greece, thanks to its fundamentally different financial system. This short book explains why such fears should not hold back America, and why even the expression "national debt" is neither meaningful nor appropriate for the United States.

White House Burning

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Author :
Publisher : Vintage
ISBN 13 : 0307947645
Total Pages : 386 pages
Book Rating : 4.3/5 (79 download)

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Book Synopsis White House Burning by : Simon Johnson

Download or read book White House Burning written by Simon Johnson and published by Vintage. This book was released on 2013-02-12 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the authors of the national bestseller 13 Bankers, a chilling account of America’s unprecedented debt crisis: how it came to pass, why it threatens to topple the nation as a superpower, and what needs to be done about it. With bracing clarity, White House Burning explains why the national debt matters to your everyday life. Simon Johnson and James Kwak describe how the government has been able to pay off its debt in the past, even after the massive deficits incurred as a result of World War II, and analyze why this is near-impossible today. They closely examine, among other factors, macroeconomic shifts of the 1970s, Reaganism and the rise of conservatism, and demographic changes that led to the growth of major—and extremely popular—social insurance programs. What is unquestionably clear is how recent financial turmoil exacerbated the debt crisis while creating a political climate in which it is even more difficult to solve.

Fiscal Therapy

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Publisher : Oxford University Press
ISBN 13 : 0190645431
Total Pages : 256 pages
Book Rating : 4.1/5 (96 download)

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Book Synopsis Fiscal Therapy by : William G. Gale

Download or read book Fiscal Therapy written by William G. Gale and published by Oxford University Press. This book was released on 2019-03-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keeping the economy strong will require addressing two distinct but related problems. Steadily rising federal debt makes it harder to grow our economy, boost our living standards, respond to wars or recessions, address social needs, and maintain our role as a global leader. At the same time, we have let critical investments lag and left many people behind even as overall prosperity has grown. In Fiscal Therapy, William Gale, a leading authority on how federal tax and budget policy affects the economy, provides a trenchant discussion of the challenges posed by the imbalances between spending and revenue. America is facing a gradual decline as debt accumulates and delay raises the costs of action. But there is hope: fiscal responsibility aligns with both conservative and liberal goals and citizens of all stripes can support the notion of making life better for our children and grandchildren. Gale provides a plan to make the economy and nation stronger, one that controls entitlement spending but preserves and enhances their anti-poverty and social insurance roles, increases public investments on human and physical capital, and raises and reforms taxes to pay for government services in a fair and efficient way. What is needed, he argues, is to balance today's needs against tomorrow's obligations. We face significant fiscal challenges but, if we are wise enough to seize our opportunities, we can strengthen our economy, increase opportunity, reduce inequality, and build better lives for our children and grandchildren. We do not have to kill popular programs or starve government. Indeed, one main goal of fiscal reform is to maintain the vital functions that government provides. We need to act responsibly, pay for the government we want, and shape that government in ways that serve us best.

What We Owe

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Author :
Publisher : Brookings Institution Press
ISBN 13 : 0815730691
Total Pages : 204 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis What We Owe by : Carlo Cottarelli

Download or read book What We Owe written by Carlo Cottarelli and published by Brookings Institution Press. This book was released on 2017-09-05 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The euro crisis, Japan's sluggish economy, and partisan disagreements in the United States about the role of government all have at least one thing in common: worries about high levels of public debt. Nearly everyone agrees that public debt in many advanced economies is too high to be sustainable and must be addressed. There is little agreement, however, about when and how that addressing should be done—or even, in many cases, just how serious the debt problem is. As the former director of the International Monetary Fund's Fiscal Affairs Department, Carlo Cottarelli has helped countries across the globe confront their public finance woes. He also had direct experience in advising his own country, Italy, about its chronic fiscal ailments. In this straightforward, plain-language book, Cottarelli explains how and why excessive public debt can harm economic growth and can lead to crises such as those experienced recently in Italy and several other European countries. But Cottarelli also has some good news: reducing public debt often can be done without trauma and through moderate changes in spending habits that contribute to economic growth. His book focuses on positive remedies that countries can adopt to deal with their public debt, analyzing both the benefits and potential downsides to each approach, as well as suggesting which remedies might be preferable in particular situations. Too often, public debate about public debt is burdened by lies and myths. This book not only explains the basic facts about public debt but also aims to bring truth and reasoned nonpartisan analysis to the debate.

Expansionary Austerity New International Evidence

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1455294691
Total Pages : 41 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Expansionary Austerity New International Evidence by : Mr.Daniel Leigh

Download or read book Expansionary Austerity New International Evidence written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-07-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.

Do Deficits Matter?

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Author :
Publisher : University of Chicago Press
ISBN 13 : 9780226751122
Total Pages : 362 pages
Book Rating : 4.7/5 (511 download)

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Book Synopsis Do Deficits Matter? by : Daniel Shaviro

Download or read book Do Deficits Matter? written by Daniel Shaviro and published by University of Chicago Press. This book was released on 1997-05 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do deficits matter? Yes and no, says Daniel Shaviro in this political and economic study. Yes, because fiscal policy affects generational distribution, national saving, and the level of government spending. And no, because the deficit is an inaccurate measure with little economic content. This book provides an invaluable guide for anyone wanting to know exactly what is at stake for Americans in this ongoing debate. "[An] excellent, comprehensive, and illuminating book. Its analysis, deftly integrating considerations of economics, law, politics, and philosophy, brings the issues of 'balanced budgets,' national saving, and intergenerational equity out of the area of religious crusades and into an arena of reason. . . . A magnificent, judicious, and balanced treatment. It should be read and studied not just by specialists in fiscal policy but by all those in the economic and political community."—Robert Eisner, Journal of Economic Literature "Shaviro's history, economics, and political analysis are right on the mark. For all readers."—Library Journal

Debt, Deficits, and the Demise of the American Economy

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 1118072049
Total Pages : 224 pages
Book Rating : 4.1/5 (18 download)

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Book Synopsis Debt, Deficits, and the Demise of the American Economy by : Peter J. Tanous

Download or read book Debt, Deficits, and the Demise of the American Economy written by Peter J. Tanous and published by John Wiley & Sons. This book was released on 2011-05-09 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: What investors can do to protect their investments in the next phase of the ongoing global economic collapse The United States is heading toward an unavoidable financial catastrophe that will paralyze the markets and the overall economy in ways never before seen. Some call this impending economic catastrophe a double-dip recession, others a financial Armageddon. Regardless of what it's called, it is too late to stop it. Debts, Deficits, and the Demise of the American Economy is a look at how we got here, how the crisis is unfolding, and how it will end with a stock market crash in 2012, if not sooner. Takes you through the unraveling of the collapse, starting with a wave of sovereign debt defaults in Europe Predicts a stock market decline of two to three thousand points, a run on banks resulting in a major bank crisis, and rampant inflation Provides investment strategies, including alternative investments such as timber, farm land, and oil Offers a detailed proposal to get the United States out of the crisis Debts, Deficits, and the Demise of the American Economy is a must-read, play-by-play account of the worldwide depression that is likely to unfold in the coming years.

Global Waves of Debt

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Author :
Publisher : World Bank Publications
ISBN 13 : 1464815453
Total Pages : 403 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Waves of Debt by : M. Ayhan Kose

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

The Budget and Economic Outlook

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Author :
Publisher :
ISBN 13 :
Total Pages : 196 pages
Book Rating : 4.3/5 (243 download)

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Book Synopsis The Budget and Economic Outlook by :

Download or read book The Budget and Economic Outlook written by and published by . This book was released on 2008 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Nation in Debt

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Author :
Publisher :
ISBN 13 :
Total Pages : 336 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis A Nation in Debt by : Richard H. Fink

Download or read book A Nation in Debt written by Richard H. Fink and published by . This book was released on 1987 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Lost Decades: The Making of America's Debt Crisis and the Long Recovery

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Author :
Publisher : W. W. Norton & Company
ISBN 13 : 0393080501
Total Pages : 259 pages
Book Rating : 4.3/5 (93 download)

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Book Synopsis Lost Decades: The Making of America's Debt Crisis and the Long Recovery by : Menzie D. Chinn

Download or read book Lost Decades: The Making of America's Debt Crisis and the Long Recovery written by Menzie D. Chinn and published by W. W. Norton & Company. This book was released on 2011-09-19 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: A clear, authoritative guide to the crisis of 2008, its continuing repercussions, and the needed reforms ahead. The U.S. economy lost the first decade of the twenty-first century to an ill-conceived boom and subsequent bust. It is in danger of losing another decade to the stagnation of an incomplete recovery. How did this happen? Read this lucid explanation of the origins and long-term effects of the recent financial crisis, drawn in historical and comparative perspective by two leading political economists. By 2008 the United States had become the biggest international borrower in world history, with more than two-thirds of its $6 trillion federal debt in foreign hands. The proportion of foreign loans to the size of the economy put the United States in league with Mexico, Indonesia, and other third-world debtor nations. The massive inflow of foreign funds financed the booms in housing prices and consumer spending that fueled the economy until the collapse of late 2008. This was the most serious international economic crisis since the Great Depression of the 1930s. Menzie Chinn and Jeffry Frieden explain the political and economic roots of this crisis as well as its long-term effects. They explore the political strategies behind the Bush administration’s policy of funding massive deficits with foreign borrowing. They show that the crisis was foreseen by many and was avoidable through appropriate policy measures. They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. Lost Decades will long be regarded as the standard account of the crisis and its aftermath.

Inflated

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Author :
Publisher : John Wiley & Sons
ISBN 13 : 0470933712
Total Pages : 416 pages
Book Rating : 4.4/5 (79 download)

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Book Synopsis Inflated by : R. Christopher Whalen

Download or read book Inflated written by R. Christopher Whalen and published by John Wiley & Sons. This book was released on 2010-11-04 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Americans as a whole view themselves as reasonably prudent and sober people when it comes to matters of money, reflecting the puritan roots of the earliest European settlers. Yet as a community, we also seem to believe that we are entitled to a lifestyle that is well-beyond our current income, a tendency that goes back to the earliest days of the United States and particularly to get rich quick experiences ranging from the Gold Rush of the 1840s to the real estate bubble of the early 21st Century. Inflated examines this apparent conflict and makes the argument that such a world view is so ingrained in us that to expect the United States to live in a "deflated" world is simply unrealistic. It skillfully seeks to tell the story of, money inflation and public debt as enduring (and perhaps endearing) features of American life, rather than something we can one day overcome as our policy makers constantly promise. Features interviews with today's top financial industry leaders and insiders. Offer a glimpse into the future of the Federal Reserve and the role it will play in the coming years Examines what the future may hold for the value of the U.S. dollar and the real incomes of future generations of Americans The gradual result of the situation we find ourselves in will inevitably lead to inflation, loss of economic opportunity, and a decline in the value of the dollar. This book will show you why, and reveal how we might be able to deal with it.

Understanding Budget Deficits and the National Debt

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Author :
Publisher : The Rosen Publishing Group, Inc
ISBN 13 : 1448873029
Total Pages : 82 pages
Book Rating : 4.4/5 (488 download)

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Book Synopsis Understanding Budget Deficits and the National Debt by : Kathy Furgang

Download or read book Understanding Budget Deficits and the National Debt written by Kathy Furgang and published by The Rosen Publishing Group, Inc. This book was released on 2011-12-15 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the Great Recession of 2007-2009 and the ensuing federal stimulus efforts, no economic subject has drawn as much attention or attracted as much controversy as the national debt and federal and state budget deficits. This book clearly explains how and why governments borrow money, how and why they engage in deficit spending, and the short- and long-term effects such practices have on the economy. Even-handed and nonpartisan, this book allows readers to understand the actual economic mechanics at work beneath all the hype. As such, it is a welcome, calming corrective to a partisan debate that has obscured economic realities and muddled the effort to guarantee a sound economy for future generations of Americans.

The $13 Trillion Question

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Author :
Publisher : Brookings Institution Press
ISBN 13 : 0815727062
Total Pages : 178 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis The $13 Trillion Question by : David Wessel

Download or read book The $13 Trillion Question written by David Wessel and published by Brookings Institution Press. This book was released on 2015-11-24 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: The underexamined art and science of managing the federal government's huge debt. Everyone talks about the size of the U.S. national debt, now at $13 trillion and climbing, but few talk about how the U.S. Treasury does the borrowing—even though it is one of the world's largest borrowers. Everyone from bond traders to the home-buying public is affected by the Treasury's decisions about whether to borrow short or long term and what types of bonds to sell to investors. What is the best way for the Treasury to finance the government's huge debt? Harvard's Robin Greenwood, Sam Hanson, Joshua Rudolph, and Larry Summers argue that the Treasury could save taxpayers money and help the economy by borrowing more short term and less long term. They also argue that the Treasury and the Federal Reserve made a huge mistake in recent years by rowing in opposite directions: while the Fed was buying long-term bonds to push investors into other assets, the Treasury was doing the opposite—selling investors more long-term bonds. This book includes responses from a variety of public and private sector experts on how the Treasury does its borrowing, some of whom have criticized the way the Treasury has been managing its borrowing.