Review Of The Cost Of Capitalism Culture Lifestyle 10 pptx

... economists joined together in a cele- bration of the Goldilocks economy. With the dismal record of the 1970s as their point of comparison, mainstream analysts focused on the not-too-hot, not-too-cold ... the last war: the war against inflation. Vanquishing the Boom and Bust Cycle of the Sixties and Seventies . . . When Paul Volcker was appointed chairman of the Fede...

Ngày tải lên: 21/06/2014, 12:20

... lower than the value of what is owed to them—their assets. When they subtract their liabilities from their assets, the remainder is their equity. The problem for banks arises if the banks have lots of ... gone bust and the bank now owns the home. But the loan was for $588,000, and the house is worth $538,000. If lots of home loans go the way of Hanna’s loan, then th...

Ngày tải lên: 21/06/2014, 12:20

... excessive uses of risk and concentration of investment. And the interplay of these two flaws explains each of the major economic declines of the past 25 years. In summation, the savvy analyst must be of two ... to the Fed’s list of poten- tially destabilizing excesses. Why? Sadly, it was not the force of ideas that carried the day. It was the end of the Grea...

Ngày tải lên: 21/06/2014, 12:20

... bubble!” I looked at the others; they looked down at their shoes. And for the remainder of the two hours the group exchanged pleasantries. In the end the group decided that the big risk going forward, ... any fun playing the role of party pooper. What fol- lows is a piece I wrote on the eve of the collapse of Nasdaq, in the spring of 2000. 2 The Brave-New-Wor...

Ngày tải lên: 21/06/2014, 12:20

... even the most creative mortgage providers to lift their teaser rates the cost of money forced them to make the adjustment. 140 • T HE C OST OF C APITALISM In the United States, a vocal group of ... thought that by the end of the year the funds rate would fall to 4 percent. Quite a few e-mails greeted me after the show, most of them critical, and one accused me of...

Ngày tải lên: 21/06/2014, 12:20

... and a writer of the insurance. If things go as planned, the buyer pays the insurer the premium. If things go awry, the insurer pays the buyer. Either way, one of the two parties gets the money promised ... regulated free market capitalism does the best job of delivering growth to the citizenry of the world. 2. Financial system excesses are the root cause of...

Ngày tải lên: 21/06/2014, 12:20

... leading up to the crisis of 2008, many champions of free market capitalism warned about the tenuous nature of the global credit markets. Warren Buffett, the sage of Omaha, labeled the mar- kets ... a central part of the mainstream formulation. The simple truth is that theorists owe this to the policy-making world. The sooner they deliver it, the better. 208 • T...

Ngày tải lên: 21/06/2014, 12:20

... borrowing, 102 International capital markets, 130 International Monetary Fund (IMF), 103 104 Investing, 26–29 Investment association with high rates of profit, 100 booms, 19, 104 bubbles, 108 – 110 clustering ... different, 181 Financial crisis of 2008 colossal scope of, 207 coming to terms with, 10 11 economic orthodoxy on the eve of, 161–176 essential elements of, 149–151...

Ngày tải lên: 21/06/2014, 12:20

... the stock market crash of 1990, the Asian crisis of the mid-1990s, the fabulous technology boom/bust cycle at the turn of the millen- nium, and the unprecedented rise and then collapse for U.S. ... economists joined together in a cele- bration of the Goldilocks economy. With the dismal record of the 1970s as their point of comparison, mainstream analysts focuse...

Ngày tải lên: 20/06/2014, 20:20

... to the Fed’s list of poten- tially destabilizing excesses. Why? Sadly, it was not the force of ideas that carried the day. It was the end of the Great Moderation. The breath- taking nature of the ... excessive uses of risk and concentration of investment. And the interplay of these two flaws explains each of the major economic declines of the past 25 years...

Ngày tải lên: 20/06/2014, 20:20