2 ms·
I went over to Amazon to see what the reviews said. Some of them did a decent job of summarizing the salient points. The crises were characterized by real est
by russell 16y ago
I went over to Amazon to see what the reviews said. Some of them did a decent job of summarizing the salient points. The crises were characterized by real estate crashes followed by stock market crashes, followed by an average of 86% increase in public debt (sound familiar), followed by severe inflation. I guess that means in a few years my backbreaking mortgage can be paid from my Starbucks fund.
Unfortunately the authors dont give a prescription. Given that this one was fueled by hubris and institutional corruption with no political will to fix it, we are due for more in the future.