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The Greatest Crash: How contradictory policies are sinking the global economy电子书

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52人正在读 | 0人评论 9.8

作       者:David Kauders

出  版  社:Sparkling Books

出版时间:2011-10-07

字       数:21.7万

所属分类: 进口书 > 外文原版书 > 小说

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  • 读书简介
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"Radical thinkers might have a point" Financial Times "One of the things we need now is new thinking on the fundamentals... Most readers will learn a good deal from his provocative insights."Emeritus Prof. David Myddelton The roadblock in finance: the financial system limit The book explains why the financial system that evolved from the early Italian bankers can expand no further. Then it examines the contradictions, wishful thinking and paradoxes that give rise to so much financial trouble. To escape this system limit, evolution is needed, but the obsession with regulation and conformity act to?prevent evolution
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The Greatest Crash

Introduction

Preface

The Greatest Crash

The roadblock preventing growth

The concept of a financial system limit

A world riddled with contradictions

The policy limit

Evolution by trial and error

How the financial system evolved

The Marxist view of capitalism

The Great Depression and Keynes

The long economic cycle

The post-war consensus and the managed economy

The growth of services and a new cycle

Before the credit crunch

Borrowing from the future

How the British economy destroyed value

The Private Finance Initiative

Other warnings

PFI was a financial bubble

Private equity

An era of wishful thinking

Lessons from Japan

Warnings from sub-prime

The misuse of numbers and bubble accounting

Accounting for knowledge

What is a valuation?

Risk is not amortised

Offshore financial vehicles

The cost of debt

Public or private debt?

The statistics of difference

Bubble accounting must change

Pension funds

Pension fund growth assumptions

The fashion for alternative assets

Target date funds

Property

The home-owning dream

Mortgage availability

Demographics

The link between economic activity and residential property

Market saturation

Unique factors in the United Kingdom

Other countries

The world’s deficit with itself

Devaluing the dollar

Twin design flaws in the Euro

Debtor and creditor nations

Contradictions and paradoxes

Rescues and bailouts are self-defeating

The austerity contradiction

When economic relationships change

Changed behaviour

The 50% factor and the savings contradiction

Growth or decline?

When growth is decline: distinguishing economic growth from credit and regulatory growth

Government mandated spending

Substitute taxation

Substitutes for public ownership

The conflicts in easy answers

Official forecasts and the limits to government power

Treasury forecasting

Do governments have any power?

The link with evolution, delegated government and regulation

The political system limit

Why deflation is unavoidable

Global paradoxes

Government bond markets

Broader paradoxes of capitalism

Communism, Islam and population change

Group think

Mass delusions and the media crowd

Consensus or contrarian?

Some examples of group think

The world of standards and rules

The regulated, compliant society

Conformity

Academic differences of opinion

The differing economic arguments

Is financial theory bunk?

The dark side of capital markets

The capital market cycle

Conversion flow

The greater fool theory

Dow theory of ‘bear’ markets

Practical perspectives

Time

Propaganda

Conditions for the ‘bear’ market to end

What should investors do in this great ‘bear’ market?

The attitude change

Sparkling Books

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