A 2017 book by Graham Summers (MBA) about the Federal Reserve Bank and how it got that way
The proper title is The Everything Bubble: The Endgame for Central Bank Policy.
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.
Some Reviews on Amazon.com
4 Stars
Valuable
information - I want (need) more!
Reviewed in the United States on
November 11, 2017
Excellent book. Easy to read and understand.
Valuable in terms of looking to future pathways and options for fed and
government. Two great sections- How we got here - and what to expect. I only
wish there had been a thir section offering some insight or suggestions for how
the individual investor might be able to minimize future impact. Maybe a follow
up e-book. I rate the book itself at a 5 but knock it down one notch for
lacking a third section - call it “What can you do about it” - or “Options for
survival” or “How to survive”. I hope that Graham has a follow up in the works.
4 stars
It's
a Bond Bubble yes but it's not an Everything Bubble
Reviewed in the United States on January
21, 2018
This is easily the very best book
written about the actions of the Federal Reserve and the US Bond Bubble and
yes, it's going to blow sky high and destroy the world's financial system when
it blows.
But it is certainly not a book about The Everything Bubble. The author skips
Japan and their QE to infinity. He pretty much ignores the EU and their QE to
infinity. He missed the incredible subprime auto bubble as well as the student
loan scam. There is nary a mention of the stock market bubble or the
reemergence of the real estate bubble. So it's great on the bond bubble but
that was just to start of The Everything Bubble.
As others have pointed out, the book doesn't end, it just stops. It's all well
and good to be a prophet but people want to vote for a savior. OK, the Bond
Bubble blows up. I want to know what I do then, not just the dingbats in the government
who indeed will attempt to steal every cent from the public to maintain the
lifestyle they would like to become accustomed to. If the Everything Bubble is
the problem, what is the solution?
Part One is very well done indeed but there must be a Part Two.
4 stars
I
mean aren't they the smart guys? This book ties it all together - ...
Reviewed in the United States on January
12, 2018
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.
Dojo
5 stars
Superb explanation of how the staggering
world debt explosion happened
Reviewed in the United Kingdom on August
21, 2019
Superb, easy to read with regular recaps
throughout the book.
Politicians, economists and financial industry ‘so called’ experts should read
it several times but alas based on form to date ‘they who need to read it’ will
not. Students of politics, finance, economics etc should have this book as
compulsory reading.
Time to change the financial management of ‘the system’ wherever it might be.
Also, Greenspan and Bernanke should hang their heads in embarrassment. Asleep
at the wheel or complicit in some of the keys events leading up to 2008 and
post 2008.
The political insight on the reasons behind who set up the federal reserve, and
the actions by
Roosevelt and Nixon were a real eye opener in how to let the genie out of the
bottle. A big bad genie.
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