If economics was a stable and solid science, wouldn’t central bank steering of a G7 currency be rare and deftly done? But it happens all the time and seems to weaken growth!
The Everything Bubble: The Endgame For
Central Bank Policy
By Graham Summers, MBA -- Paperback –
Published October 22, 2017
Summary
by Amazon.com
The Everything Bubble chronicles the
creation and evolution of the US financial system, starting with the founding
of the US Federal Reserve in 1913 and leading up to the present era of serial
bubbles: the Tech Bubble of the ‘90s, the Housing Bubble of the early ‘00s and
the current bubble in US sovereign bonds, which are also called Treasuries.
Because these bonds serve as the foundation of our current financial system,
when they are in a bubble, it means that all risk assets (truly EVERYTHING),
are in a bubble, hence our title, The Everything Bubble. In this sense, the
Everything Bubble represents the proverbial end game for central bank policy:
the final speculative frenzy induced by Federal Reserve overreach. The Everything
Bubble book is the result of over a decade of research and analysis of the
financial markets and economy by noted investment analyst, Graham Summers, MBA.
As such, this book is intended for anyone who wants to understand how the US
financial system truly operates as well as those interested in the Federal
Reserve’s future policy responses when the Everything Bubble bursts. To that
end, The Everything Bubble is divided into two sections: How We Got Here and
What’s to Come. Combined, these sections represent a blueprint for all things
finance and money-related in the United States.This knowledge is now yours.
Review
of the Book by a Reader
4.0 out of 5 stars I
mean aren't they the smart guys? This book ties it all together”
Reviewed in the United States on January
12, 2018
Verified Purchase
Although I already knew the history of
the Fed and had read many of the books referenced - although I have lived
through the blowing of three bubbles, the implosion of two, and am now awaiting
the implosion of the third - I never understood the ignorance of central
bankers. I mean aren't they the smart guys?
This book ties it all together - why the fed did what they did and have then
been forced to stay on the same path. I mean, after watching the mistakes of
Japan and the BOJ, why repeat them?
I saw it happen and I did realize that the Fed was opting for Japan II over
Great Depression II in 2009 - but why not a third option?
This book explains the trap central bankers are caught in. Unfortunately it
also explains what is likely to happen when this, the third central bank
bubble, also implodes.
Unfortunately it doesn't lay out a specific action plan as for what to do.
That's why I only gave it 4 stars.
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