How I Predicted The Global Economic Crisis

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How I Predicted the Global Economic Crisis*

Author : John R. Talbott
Publisher : CreateSpace
ISBN 13 : 9781461013860
Total Pages : 222 pages
Book Rating : 4.0/5 (138 download)

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Book Synopsis How I Predicted the Global Economic Crisis* by : John R. Talbott

Download or read book How I Predicted the Global Economic Crisis* written by John R. Talbott and published by CreateSpace. This book was released on 2011-03-15 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: How I Predicted the Global Economic Crisis*: The Most Amazing Book You'll Never Read * and the dot.com collapse, the housing crash, the banking crisis, the stock market plunge, the length and depth of the current recession, the bankrupting of Fannie and Freddie, Europe's debt problems, the muni-bond meltdown, a doubling of gold prices and the even bigger world economic crisis yet to come Think it's over? If you don't understand the real causes of the current crisis, it may cost you your job, your savings, your home and your country This is an introduction to the writings of the best selling author John R. Talbott, a former investment banker for Goldman Sachs and previously a Visiting Scholar at UCLA's Anderson School. In his books, Talbott, called an oracle with a track record by Bloomberg News, has accurately predicted every single financial crisis for the last twelve years. In this book he summarizes what he believes are the key underlying causes of the current crisis and explains why you better understand them if you are to protect your wealth and your family as there is an even bigger crisis coming on the horizon. In down to earth, easy to understand prose, Talbott relies on excerpts from his previous books along with new exposition to explain to all type readers, not just economists, that it makes little sense to attempt reform of Wall Street as long as the banking industry controls our congress through lobbying and campaign contributions. You will quickly realize the genius of this straight talking progressive who thinks the biggest crime of this crisis is that no banking executive has been imprisoned. A must read for serious investors, home owners and anyone interested in understanding how we can get out of this recession and avoid economic crises in the future. It has been said that if you want to know what people will be talking about years in the future, read Talbott now. John R. Talbott is the bestselling author of eight books on economics and politics that have accurately detailed and predicted the causes and devastating effects of this entire financial crisis including, in 2003, The Coming Crash in the Housing Market. In 2004, he correctly identified corporate and banking lobbyists and big money in politics as the major underlying cause of the current crisis with, Where America Went Wrong. In January 2006, he called the absolute peak month of home prices in the US by releasing, Sell Now! The End of the Housing Bubble and warned that the problem was not local, or even national, but international. In 2008, his book, Contagion: The Financial Epidemic That Is Sweeping the Global Economy predicted the subprime mortgage problem developing in the US would mutate and grow and infect not only prime mortgages, but other markets such as the stock market, commercial real estate, the municipal bond market, as well as threaten the solvency of banks and governments around the globe leading to a very long, deep and painful global recession. In 2009, The 86 Biggest Lies on Wall Street exposed the ineptness of the government's response to the crisis and the futility of enacting real reform of Wall Street when Wall Street itself is the biggest lobbyist of our congress. Talbott has written peer reviewed academic research on democracy, inequality, AIDS prevention and developing country economics and has acted as an economic adviser to Jordan and Russia. He graduated from Cornell's School of Engineering and received an MBA from UCLA. His work has appeared in the Wall Street Journal, the Financial Times, the Boston Globe, the San Francisco Chronicle, the Herald Tribune, the New Republic, the Huffington Post and salon.com. He has appeared as a financial expert on television for CNN, CBS, Fox News, CNBC, FBN, CSPAN and MSNBC as well as on hundreds of radio programs. The media can contact Talbott at [email protected] as well as anyone who might be interested in discussing possible speaking engagements.

The Financial Crisis Inquiry Report

Author : Financial Crisis Inquiry Commission
Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)

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Book Synopsis The Financial Crisis Inquiry Report by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Handbook of Research on Financial and Banking Crisis Prediction Through Early Warning Systems

Author : Qaiser Munir
Publisher :
ISBN 13 : 9781466694842
Total Pages : 0 pages
Book Rating : 4.6/5 (948 download)

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Book Synopsis Handbook of Research on Financial and Banking Crisis Prediction Through Early Warning Systems by : Qaiser Munir

Download or read book Handbook of Research on Financial and Banking Crisis Prediction Through Early Warning Systems written by Qaiser Munir and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addresses the inequity of developed and developing nations from the bottom up through an exploration of current literature, specific case-studies, and data-based recommendations for new crisis indicators. It explores such topics as the Greek debt crisis, electronic banking, and financial crises in developing economies.

Aftershock

Author : David Wiedemer
Publisher : John Wiley & Sons
ISBN 13 : 1118127528
Total Pages : 314 pages
Book Rating : 4.1/5 (181 download)

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Book Synopsis Aftershock by : David Wiedemer

Download or read book Aftershock written by David Wiedemer and published by John Wiley & Sons. This book was released on 2011-07-07 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide to preparing for the next phase of the financial meltdown From the authors who were the first to predict Phase I of our current economic downturn-in their landmark 2006 book, America's Bubble Economy-comes their insightful sequel discussing their predictions for the next phase of the Bubble Economy. It may seem like the worst has come and gone, but it hasn't. With their proven track record of accurate predictions-which most financial professionals and economists missed-the authors explain how and why the next phase of the financial meltdown is about to hit. Things are not going back to how they were before. Instead, we are moving through uncharted territory, with new challenges and opportunities that few people can anticipate. Written in a straightforward and accessible style, Aftershock shows readers how to seek safety and profits in these dynamic economic conditions. Discusses how to protect assets, businesses, and jobs before and during the second wave of financial meltdown Provides clear and accurate advice on how to profit from the collapsing bubbles Offer focused guidance regarding real estate, which will continue to be a pressing concern for many The authors' first book was chosen by Kiplinger's as one of the 30 Best Business Books of 2006, and its accuracy has been hailed by Paul Farrell of Dow Jones MarketWatch when he said "America's Bubble Economy's Predictions, though ignored, were accurate." Don't miss out on these time tested author's proven advice for how to mange your money during the coming financial meltdown.

Contagion

Author : John R. Talbott
Publisher : John Wiley & Sons
ISBN 13 : 0470466936
Total Pages : 239 pages
Book Rating : 4.4/5 (74 download)

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Book Synopsis Contagion by : John R. Talbott

Download or read book Contagion written by John R. Talbott and published by John Wiley & Sons. This book was released on 2009-01-08 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bestselling author John Talbott outlines the troublesome economic times ahead and what can be done about them Tough times are here, and author John Talbott-who accurately predicted the dot.com technology stock collapse as well as the recent housing, mortgage, and financial crises-argues that the coming global recession will be unlike anything we've ever seen. In Contagion, Talbott turns his attention to this crisis and offers insights on what can be done to navigate such treacherous terrain. Talbott sets the stage by discussing how government borrowing and spending on the war, healthcare, Social Security, and corporate giveaways combined with dramatic increases in personal spending, fueled by credit card and mortgage debt, have funded unsustainable levels of personal and government consumption. Offers practical suggestions as to how investors and homeowners can best weather this storm with straightforward advice on where to invest Examines real estate and housing issues to help you make the best decisions possible in this arena Details the best ways to utilize stocks, bonds, TIPS, and commodities, and to prosper during this global crisis If you really want to protect yourself from the unfolding economic crisis, then Contagion is the book you need to read.

The New Depression

Author : Richard Duncan
Publisher : John Wiley & Sons
ISBN 13 : 1118157796
Total Pages : 192 pages
Book Rating : 4.1/5 (181 download)

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Book Synopsis The New Depression by : Richard Duncan

Download or read book The New Depression written by Richard Duncan and published by John Wiley & Sons. This book was released on 2012-04-03 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why the global recession is in danger of becoming another Great Depression, and how we can stop it When the United States stopped backing dollars with gold in 1968, the nature of money changed. All previous constraints on money and credit creation were removed and a new economic paradigm took shape. Economic growth ceased to be driven by capital accumulation and investment as it had been since before the Industrial Revolution. Instead, credit creation and consumption began to drive the economic dynamic. In The New Depression: The Breakdown of the Paper Money Economy, Richard Duncan introduces an analytical framework, The Quantity Theory of Credit, that explains all aspects of the calamity now unfolding: its causes, the rationale for the government's policy response to the crisis, what is likely to happen next, and how those developments will affect asset prices and investment portfolios. In his previous book, The Dollar Crisis (2003), Duncan explained why a severe global economic crisis was inevitable given the flaws in the post-Bretton Woods international monetary system, and now he's back to explain what's next. The economic system that emerged following the abandonment of sound money requires credit growth to survive. Yet the private sector can bear no additional debt and the government's creditworthiness is deteriorating rapidly. Should total credit begin to contract significantly, this New Depression will become a New Great Depression, with disastrous economic and geopolitical consequences. That outcome is not inevitable, and this book describes what must be done to prevent it. Presents a fascinating look inside the financial crisis and how the New Depression is poised to become a New Great Depression Introduces a new theoretical construct, The Quantity Theory of Credit, that is the key to understanding not only the developments that led to the crisis, but also to understanding how events will play out in the years ahead Offers unique insights from the man who predicted the global economic breakdown Alarming but essential reading, The New Depression explains why the global economy is teetering on the brink of falling into a deep and protracted depression, and how we can restore stability.

Crisis Economics

Author : Nouriel Roubini
Publisher : Penguin
ISBN 13 : 1101427426
Total Pages : 368 pages
Book Rating : 4.1/5 (14 download)

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Book Synopsis Crisis Economics by : Nouriel Roubini

Download or read book Crisis Economics written by Nouriel Roubini and published by Penguin. This book was released on 2010-05-11 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: This myth shattering book reveals the methods Nouriel Roubini used to foretell the current crisis before other economists saw it coming and shows how those methods can help us make sense of the present and prepare for the future. Renowned economist Nouriel Roubini electrified his profession and the larger financial community by predicting the current crisis well in advance of anyone else. Unlike most in his profession who treat economic disasters as freakish once-in-a-lifetime events without clear cause, Roubini, after decades of careful research around the world, realized that they were both probable and predictable. Armed with an unconventional blend of historical analysis and global economics, Roubini has forced politicians, policy makers, investors, and market watchers to face a long-neglected truth: financial systems are inherently fragile and prone to collapse. Drawing on the parallels from many countries and centuries, Nouriel Roubini and Stephen Mihm, a professor of economic history and a New York Times Magazine writer, show that financial cataclysms are as old and as ubiquitous as capitalism itself. The last two decades alone have witnessed comparable crises in countries as diverse as Mexico, Thailand, Brazil, Pakistan, and Argentina. All of these crises-not to mention the more sweeping cataclysms such as the Great Depression-have much in common with the current downturn. Bringing lessons of earlier episodes to bear on our present predicament, Roubini and Mihm show how we can recognize and grapple with the inherent instability of the global financial system, understand its pressure points, learn from previous episodes of "irrational exuberance," pinpoint the course of global contagion, and plan for our immediate future. Perhaps most important, the authors-considering theories, statistics, and mathematical models with the skepticism that recent history warrants—explain how the world's economy can get out of the mess we're in, and stay out. In Roubini's shadow, economists and investors are increasingly realizing that they can no longer afford to consider crises the black swans of financial history. A vital and timeless book, Crisis Economics proves calamities to be not only predictable but also preventable and, with the right medicine, curable.

Aftershock

Author : John David Wiedemer
Publisher : John Wiley & Sons
ISBN 13 : 1118375629
Total Pages : 384 pages
Book Rating : 4.1/5 (183 download)

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Book Synopsis Aftershock by : John David Wiedemer

Download or read book Aftershock written by John David Wiedemer and published by John Wiley & Sons. This book was released on 2014-03-31 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers an analysis of recent economic developments and presents advice on how people can protect themselves and profit when a global economic meltdown occurs.

Financial Crises Explanations, Types, and Implications

Author : Mr.Stijn Claessens
Publisher : International Monetary Fund
ISBN 13 : 1475561008
Total Pages : 66 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Financial Crises Explanations, Types, and Implications by : Mr.Stijn Claessens

Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

The Road to Recovery

Author : Andrew Smithers
Publisher : John Wiley & Sons
ISBN 13 : 1118515692
Total Pages : 267 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis The Road to Recovery by : Andrew Smithers

Download or read book The Road to Recovery written by Andrew Smithers and published by John Wiley & Sons. This book was released on 2013-08-16 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: Renowned economist Andrew Smithers offers prescriptive advice and economic theory on avoiding the next financial crisis In The Road to Recovery, Andrew Smithers—one of a handful of respected economists to have accurately predicted the most recent global financial crisis—argues that the neoclassical consensus governing global economic decision-making must be revised in order to avoid the next financial collapse. He argues that the current low interest rates and budget deficits have prevented the recession becoming a depression but that those policies cannot be continuously repeated and a new consensus for action must be found. He offers practical guidance on reducing government, household, and business debt; changing the economic incentives for the management class that currently inhibit long-term growth; and rebalancing national economies both internally and externally. Further, he explains how central bankers must broaden the economic theories that guide their decisions to include the major factors of debt and asset prices. Offers practical, real-world economic policies for restructuring and rebalancing the global economic system Presents a modern economic theory for preventing the next collapse Ideal for economists, investors, fund managers, and central bankers Written by an economist described by the legendary Barton Biggs as "one of the five best, most dispassionate, erudite analysts in the world" As the global economy continues the long climb out of recession, it's imperative that central bankers and other economic decision-makers not repeat the mistakes of the past. The Road to Recovery offers prescriptive guidance on redesigning an economic system that is healthy, stable, and beneficial to all.

Hubris

Author : Meghnad Desai
Publisher :
ISBN 13 : 9780300219494
Total Pages : 0 pages
Book Rating : 4.2/5 (194 download)

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Book Synopsis Hubris by : Meghnad Desai

Download or read book Hubris written by Meghnad Desai and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A frank assessment of economists' blindness before the financial crash in 2007-2008 and what must be done to avert a sequel The failure of economists to anticipate the global financial crisis and mitigate the impact of the ensuing recession has spurred a public outcry. Economists are under fire, but questions concerning exactly how to redeem the discipline remain unanswered. In this provocative book, renowned economist Meghnad Desai investigates the evolution of economics and maps its trajectory against the occurrence of major political events to provide a definitive answer. Desai underscores the contribution of hubris to economists' calamitous lack of foresight, and he makes a persuasive case for the profession to re-engage with the history of economic thought. He dismisses the notion that one over-arching paradigm can resolve all economic eventualities while urging that an array of already-available theories and approaches be considered anew for the insights they may provide toward preventing future economic catastrophes. With an accessible style and keen common sense, Desai offers a fresh perspective on some of the most important economic issues of our time.

Unexpected Outcomes

Author : Carol Wise
Publisher : Brookings Institution Press
ISBN 13 : 0815724772
Total Pages : 258 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Unexpected Outcomes by : Carol Wise

Download or read book Unexpected Outcomes written by Carol Wise and published by Brookings Institution Press. This book was released on 2015-03-10 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume documents and explains the remarkable resilience of emerging market nations in East Asia and Latin America when faced with the global financial crisis in 2008-2009. Their quick bounceback from the crisis marked a radical departure from the past, such as when the 1982 debt shocks produced a decade-long recession in Latin America or when the Asian financial crisis dramatically slowed those economies in the late 1990s. Why? This volume suggests that these countries' resistance to the initial financial contagion is a tribute to financial-sector reforms undertaken over the past two decades. The rebound itself was a trade-led phenomenon, favoring the countries that had gone the farthest with macroeconomic restructuring and trade reform. Old labels used to describe "neoliberal versus developmentalist" strategies do not accurately capture the foundations of this recovery. These authors argue that policy learning and institutional reforms adopted in response to previous crises prompted policymakers to combine state and market approaches in effectively coping with the global financial crisis. The nations studied include Korea, China, India, Mexico, Argentina, and Brazil, accompanied by Latin American and Asian regional analyses that bring other emerging markets such as Chile and Peru into the picture. The substantial differences among the nations make their shared success even more remarkable and worthy of investigation. And although 2012 saw slowed growth in some emerging market nations, the authors argue this selective slowing suggests the need for deeper structural reforms in some countries, China and India in particular.

The Meltdown Years: The Unfolding of the Global Economic Crisis

Author : Wolfgang Munchau
Publisher : McGraw Hill Professional
ISBN 13 : 0071713689
Total Pages : 273 pages
Book Rating : 4.0/5 (717 download)

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Book Synopsis The Meltdown Years: The Unfolding of the Global Economic Crisis by : Wolfgang Munchau

Download or read book The Meltdown Years: The Unfolding of the Global Economic Crisis written by Wolfgang Munchau and published by McGraw Hill Professional. This book was released on 2009-10-02 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Meltdown Years offers the most lucid and useful explanation to date about why home values, life savings, job security, and investments around the world are in peril. Rather than focus on who is to blame, though, author Wolfgang Münchau takes the more practical approach of focusing on what is to blame. The fact that individuals were stupid, greedy, and corrupt should come as no surprise. What’s remarkable is that our world’s financial systems—put in place to help stave off such a crisis—failed so miserably. What is inherently wrong with the global monetary system? What happened to the regulatory process? What role did the credit market, hedge funds, and investment banks play? These are the types of questions one must answer in order to truly comprehend what caused the meltdown and, more importantly, to understand what must be done to repair it. Münchau dissects the global financial system, exposing its flaws and weaknesses in the context of the crisis. A decidedly global perspective of the greatest financial crisis of our time, The Meltdown Years examines The structure of the world banking system Global events that led to financial collapse The growth of speculative bubbles The descent from financial crisis into full-out recession Pointing to an unstable global economic system as the root of the problem, the author predicts how long the recession willand illustrates long-term consequences of the meltdown. “Apportioning [individual] blame for this crisis may be fun,” Münchau writes, “but it is a dead-end road for anyone who seeks an understanding of what happened.” AIG, Alan Greenspan, Fannie Mae, Bear Stearns... Each is portrayed as a villain responsible for the state of the economy. In truth, the blame is much broader and lies much deeper. The Meltdown Years is required reading for anyone who wants to follow the ongoing debate about economic recovery and understand what the collapse means for the future of financial capitalism.

Global Economic Prospects, June 2021

Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 1464816662
Total Pages : 339 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Economic Prospects, June 2021 by : World Bank

Download or read book Global Economic Prospects, June 2021 written by World Bank and published by World Bank Publications. This book was released on 2021-08-03 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.

The Limits to Growth

Author : Donella H. Meadows
Publisher : Universe Pub
ISBN 13 : 9780876632222
Total Pages : 0 pages
Book Rating : 4.6/5 (322 download)

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Book Synopsis The Limits to Growth by : Donella H. Meadows

Download or read book The Limits to Growth written by Donella H. Meadows and published by Universe Pub. This book was released on 1972 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the factors which limit human economic and population growth and outlines the steps necessary for achieving a balance between population and production. Bibliogs

The Age of Stagnation

Author : Satyajit Das
Publisher : Prometheus Books
ISBN 13 : 163388158X
Total Pages : 350 pages
Book Rating : 4.6/5 (338 download)

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Book Synopsis The Age of Stagnation by : Satyajit Das

Download or read book The Age of Stagnation written by Satyajit Das and published by Prometheus Books. This book was released on 2016 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy is entering an era of protracted stagnation, similar to what Japan has experienced for over a decade. That is the message of this brilliant and controversial summary of our current economic predicament from an internationally respected consultant and commentator on financial markets, who predicted the Global Financial Crisis of 2008. The author challenges the assumption that growth can be perpetual and questions the ability of political leaders to enact the tough structural changes needed. He is particularly critical of the "easy money" approach to dealing with the great recession of 2008, citing the dangers of excessive debt and deep-seated fundamental imbalances. The fallout of these poor policies, he argues, will affect not only the business sector, but also the lifestyles and prosperity of average citizens and future generations. The author concludes with a thought experiment illustrating the large-scale changes that will be necessary to restore economic, financial, and social sustainability. This experiment has already been tried in Iceland, which went bankrupt in the wake of the 2008 crisis, and now, after a painful adjustment, is on the road to recovery. Written for the lay reader and peppered with witty anecdotes, this immensely readable book clearly explains the missteps that created the current dilemma, why a recovery has proved elusive, and the difficult remedies that must eventually be applied to ensure a stable future.

The 86 Biggest Lies on Wall Street

Author : John R. Talbott
Publisher : Seven Stories Press
ISBN 13 : 1609800672
Total Pages : 260 pages
Book Rating : 4.6/5 (98 download)

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Book Synopsis The 86 Biggest Lies on Wall Street by : John R. Talbott

Download or read book The 86 Biggest Lies on Wall Street written by John R. Talbott and published by Seven Stories Press. This book was released on 2011-01-04 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: How strong was the American economy going into the present crisis? How strong will it be a year from now? How about five years from now? Investors and citizens around the world realize, as never before, that we were misled—lied to—about the stability of our financial system. But what now? John R. Talbott's ingenious new book, The 86 Biggest Lies on Wall Street, exposes the lies and then exposes us to the truth of what it will take to rebuild our economy. As a former investment banker at Goldman Sachs, Talbott knows firsthand how the financial system operates and what it will take to fix it. As the "oracle" who predicted the housing crisis in his 2003 book, The Coming Crash in the Housing Market, warned of a global banking crisis in his 2006 book, Sell Now, and called the election for Obama when the senator from Illinois was still the underdog in Obamanomics, Talbott' s revelations about how the Street and the economy really work are as clear-eyed and undeniable as his predictions and recommendations for our economic future are tough, sensible and exciting. We may ignore them at our own peril. What will people be talking about in years to come? To find out, read John Talbott now.