Learning To Understanding Market Mayhem 2 potx
Learning To Understanding Market Mayhem_2 potx
... 85
DECNOVOCTSEPAUGJULJUNMAYAPRMARFEB
JAN
1987
28 00
26 00
24 00
22 00
20 00
1800
1600
Index
Portfolio Insurance Set Up Sell Orders at Similar Prices.
On October 19th, 1987, a Majority Found Themselves
Automatically Selling into a Collapsing Market.
Dow ... gains, they bought
stock options that locked in their automatic sell orders if the market
were to fall back to a specified lev...
Learning To Understanding Market Mayhem_6 potx
... revenue
gains . . . have been tied to the stock market. . . . The risk is that
20 0 • T
HE
C
OST OF
C
APITALISM
10080604 020 0989694 929 0888684 828 0787674 727 0686664 626 0
11
10
9
8
7
6
5
Share (%)
Where ... relative to GDP
were to fall back to 8.5 percent, the CBO’s estimate for the 20 02
surplus would be overstated by $185 billion.
2
Why might tax receipts plunge as a shar...
Learning To Understanding Market Mayhem_1 ppt
... system to this world. Let’s suppose
that stock and bond markets provide a means for businesses to borrow
and households to lend. Let’s suppose further that the world is peo-
pled with 24 /7 rational ... in. Consider the chart in Figure 4 .2. It
represents investor willingness to lend to risky companies over the
50 • T
HE
C
OST OF
C
APITALISM
Figure 4 .2
6
5
4
3
2
1
Spread (%)
A...
Learning To Understanding Market Mayhem_3 pptx
... Technologies (LU) 20 1. 12 3 .2 3.57 22 .1
7 Nortel Networks (NT) 21 1 .28 1.4 1.76 11.86
8 America Online (AOL) 50 0 .27 2. 3 0. 62 35.51
9 Sun Microsystems (SUNW) 21 0.79 1.6 1 .25 8.41
10 Dell Computer ... rival to the United States in the late
1980s, receded into near obscurity over the next 10 years (see Figure 8 .2) .
98 • T
HE
C
OST OF
C
APITALISM
89888786858483
40000
36444...
Learning To Understanding Market Mayhem_5 pptx
...
080604 020 0989694 929 0888684 828 0787674 727 0686664 626 05856
20 000
10000
8000
6000
4000
20 00
In Billions of Chained 20 00 $s, Log Scale
Growth Is the Goal
and Growth Is the Rule
NIPA: Real GDP
Figure 13.1
080604 020 0989694 929 0888684 828 0787674 727 0686664 626 05856
10
8
6
4
2
0
2
–4
Year ... nearly $2 trillion had a market value closer to $1 tril-
lion, if there was any...
Learning To Understanding Market Mayhem_7 pdf
... International Economy,
20 02.
2. “America’s Bubble Budget,” Financial Times editorial, October 27 , 20 00.
3. Ibid.
4. Floyd Norris in a New York Times blog in fall 20 08.
22 4 • N
OTES
. “Boom, Gloom, ... Reserve Board, Washington,
D.C., August 20 07.
3. Federal Reserve Board Chairman Bernanke, October 31, 20 08, UCLA
symposium.
4. Hyman Minsky, John Maynard Keynes, pp. 124 -25 .
Cha...
Learning To Understanding Market Mayhem_8 pdf
... about,
145
surging, 1 32 134
unprecedented climb in, 21
up in every year since 1966,
27 28
Households, 20 9 21 1
Houses, as asset, 1 32
Housing activity, 126 – 127 , 140, 22 0
Housing bubble, 123 –137,
140–1 42, 185
Housing ... 99–100, 181–1 82
of banks, 34, 181–1 82
houses as, 1 32
prices, 20 , 23 , 41, 60, 117, 123
risky, 48, 90–183
Attitudes toward risk, 32, 41, 1 42,
20 8 20...
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_8 potx
... revenue
gains . . . have been tied to the stock market. . . . The risk is that
20 0 • T
HE
C
OST OF
C
APITALISM
10080604 020 0989694 929 0888684 828 0787674 727 0686664 626 0
11
10
9
8
7
6
5
Share (%)
Where ... decision to relent on tight money. When I made this observation
to a friend, he chuckled. “You need to read Hyman Minsky!” he said.
And I did.
In 19 82, I left Washington t...
Understanding Market Mayhem and Stabilizing our Economic Future_4 potx
... Technologies (LU) 20 1. 12 3 .2 3.57 22 .1
7 Nortel Networks (NT) 21 1 .28 1.4 1.76 11.86
8 America Online (AOL) 50 0 .27 2. 3 0. 62 35.51
9 Sun Microsystems (SUNW) 21 0.79 1.6 1 .25 8.41
10 Dell Computer ... rival to the United States in the late
1980s, receded into near obscurity over the next 10 years (see Figure 8 .2) .
98 • T
HE
C
OST OF
C
APITALISM
89888786858483
40000
36444...
Từ khóa: