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In the fall of 2008, the United States was plunged into a financial crisis more severe than any since the Great Depression. As banks collapsed and the state scrambled to organize one of the largest transfers of wealth in history, manyincluding economists and financial expertswere shocked by the speed at which events unfolded. In this new book, John Bellamy Foster and Fred Magdoff offer a bold analysis of the financial meltdown, how it developed, and...
Author
Description
This book explores the work of the world's most powerful central bankers - Ben Bernanke of the U.S. Federal Reserve, Mervyn King of the Bank of England, and Jean-Claude Trichet of the European Central Bank - offering a view from the cockpit of the global economy as the three men struggled to keep it from going down.
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As Pogo once said, "We have met the enemy and he is us." In this book the author offers a scathing assessment of fiscal blunders in foreign lands, and details how economic repercussions are sure to be felt on American soil. Financial bubbles grew and burst, not only in the U.S. but in countries as diverse as Iceland, Germany, and Greece. Mixing humor with prescient insight, he depicts a precarious situation that demands attention. The tsunami of cheap...
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