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The financial and economic crisis that began in 2008 is the most amazing thing in our life because it is the warping speed. Especially after everything we learned from the Great Depression, how could this happen? Why is it not expected that remedial measures can be taken to avoid or mitigate it? How can I turn a slide into a full-scale depression? Why is the government and economic community's date so bleak? Richard Posner conducted a concise, not technical, investigation of all the financial catastrophe of the mother and the hard work so far. Readers without prior experience familiar with macroeconomics or financial theory are prerequisites. This is a smart generalist book that will also interest professionals. Posner believes that the facts and reasons are: Asia's excessive inflow of savings, the Federal Reserve Committee's desire to lower interest rates; executive compensation, the relationship between short-term profit goals and risky loans; low interest rates, aggressive mortgage marketing and loose regulations have contributed to the The real estate bubble; the low saving rate of Americans; and the highly leveraged balance sheet of large financial institutions
Posner analyzed two basic remedies for the crisis, two methods that fit the Depression reason: money The connoisseur - that is, the Fed allowed the money supply to shrink, so failed to stop the catastrophic deflation - and the Keynesians - the depression was the result of the credit craze of the 1920s, the stock market crash and the consequent downward spiral of economic activity. Posner's conclusion is that the pendulum swings and our financial market needs more rigorous supervision. Read Richard Posner's blog and his latest article in the Atlantic
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Orignal From: The failure of capitalism (Paperback)
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