The Cost of Capitalism Market Madness 7 pot
The Cost of Capitalism Market Madness_3 pot
... as most of the rest of the stock market was 108 • T HE C OST OF C APITALISM of these companies looked shaky. The value of bank assets, therefore, had to be reduced. And banks, in need of additional ... piece I wrote on the eve of the collapse of Nasdaq, in the spring of 2000. 2 The Brave-New-World Boom Goes Bust: The 1990s Technology Bubble • 1 17 in retre...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_6 potx
... been tied to the stock market. . . . The risk is that 200 • T HE C OST OF C APITALISM 1008060402009896949290888684828 078 7 674 7 270 6866646260 11 10 9 8 7 6 5 Share (%) Where Might the Estimates ... brain skills. Looking through the details of the question to get to an overarching sense of the issue is at the heart of right brain thinking. Out of the Mouths of...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_7 pot
... emerged in the aftermath of the Great Inflation of the 1 970 s. Central bankers, in the aftermath of the 2008 crisis, need to acknowledge that potential asset market excesses require the same attention ... many champions of free market capitalism warned about the tenuous nature of the global credit markets. Warren Buffett, the sage of Omaha, labeled the ma...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_1 pptx
... change. Indeed, if one embraces the efficient market hypothesis, the price of a capital asset is the embodiment of the present value of incomes to be received in the future. Thus, every decision ... both the borrower and the lender up for mayhem somewhere down the road. 36 • T HE C OST OF C APITALISM • 37 • Chapter 4 FINANCIAL MARKETS AS A SOURCE OF INSTABILITY Tho...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_2 pdf
... markets needed to be added 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 ... Index 08 070 605 Figure 5.3 Thus, extrapolating markets predispose the economy to excessive uses of risk and concentration of investment. And the interplay of these two...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_4 pptx
... interest rates is the catalyst for recession. And housing investment, without exception, plunges (Figure 10.1). 126 • T HE C OST OF C APITALISM 82818 079 7 877 7 675 7 473 7 271 706968 676 66564636261 2500 2000 1500 1000 500 In ... that the Bush tax cuts had put the U.S. economy into high gear did Fed policy makers begin to raise interest rates. 128 • T HE C OST OF C APITALISM 0503...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_5 ppt
... things go awry, the insurer pays the buyer. Either way, one of the two parties gets the money promised in the transaction. That makes the CDO market, in theory, a zero sum game. For the overall financial ... 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: 22/06/2014, 18:20
The Cost of Capitalism Market Madness_8 ppt
... (2001), 77 irrational exuberance of U.S. equity markets, 76 last war against inflation, 17 19 markets assessing risk, 184–185 mistake to lay blame solely on, 74 mistakes of, 73 not admitting flaws of ... triumph for, 15–16 ignoring market gains and credit finance, 10 in Japan, 97 in the late 1990s, 124 making matters worse, 170 – 171 Minsky and, 177 –189 New Keynesians design...
Ngày tải lên: 22/06/2014, 18:20
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_4 pot
... markets needed to be added 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 ... 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 s...
Ngày tải lên: 20/06/2014, 20:20
The Cost of Capitalism: Understanding Market Mayhem and Stabilizing our Economic Future_5 pot
... 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-World Boom Goes Bust: The 1990s Technology ... the focus of only a short list of econo- mists. In fact, the vast majority of forecasters denied recession risk in the United States until the gut-wrenching even...
Ngày tải lên: 20/06/2014, 20:20