Download or read book Between Debt and the Devil written by Adair Turner and published by Princeton University Press. This book was released on 2017-08-02 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why our addiction to debt caused the global financial crisis and is the root of our financial woes Adair Turner became chairman of Britain's Financial Services Authority just as the global financial crisis struck in 2008, and he played a leading role in redesigning global financial regulation. In this eye-opening book, he sets the record straight about what really caused the crisis. It didn’t happen because banks are too big to fail—our addiction to private debt is to blame. Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth, and that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth—but it drives real estate booms and busts and leads to financial crisis and depression. Turner explains why public policy needs to manage the growth and allocation of credit creation, and why debt needs to be taxed as a form of economic pollution. Banks need far more capital, real estate lending must be restricted, and we need to tackle inequality and mitigate the relentless rise of real estate prices. Turner also debunks the big myth about fiat money—the erroneous notion that printing money will lead to harmful inflation. To escape the mess created by past policy errors, we sometimes need to monetize government debt and finance fiscal deficits with central-bank money. Between Debt and the Devil shows why we need to reject the assumptions that private credit is essential to growth and fiat money is inevitably dangerous. Each has its advantages, and each creates risks that public policy must consciously balance.
Download or read book Between Debt and the Devil written by Adair Turner and published by Princeton University Press. This book was released on 2017-08-02 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why our addiction to debt caused the global financial crisis and is the root of our financial woes Adair Turner became chairman of Britain's Financial Services Authority just as the global financial crisis struck in 2008, and he played a leading role in redesigning global financial regulation. In this eye-opening book, he sets the record straight about what really caused the crisis. It didn’t happen because banks are too big to fail—our addiction to private debt is to blame. Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth, and that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth—but it drives real estate booms and busts and leads to financial crisis and depression. Turner explains why public policy needs to manage the growth and allocation of credit creation, and why debt needs to be taxed as a form of economic pollution. Banks need far more capital, real estate lending must be restricted, and we need to tackle inequality and mitigate the relentless rise of real estate prices. Turner also debunks the big myth about fiat money—the erroneous notion that printing money will lead to harmful inflation. To escape the mess created by past policy errors, we sometimes need to monetize government debt and finance fiscal deficits with central-bank money. Between Debt and the Devil shows why we need to reject the assumptions that private credit is essential to growth and fiat money is inevitably dangerous. Each has its advantages, and each creates risks that public policy must consciously balance.
Download or read book Between Debt and the Devil written by Adair Turner and published by Princeton University Press. This book was released on 2015-10-20 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why our addiction to debt caused the global financial crisis and is the root of our financial woes Adair Turner became chairman of Britain's Financial Services Authority just as the global financial crisis struck in 2008, and he played a leading role in redesigning global financial regulation. In this eye-opening book, he sets the record straight about what really caused the crisis. It didn’t happen because banks are too big to fail—our addiction to private debt is to blame. Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth, and that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth—but it drives real estate booms and busts and leads to financial crisis and depression. Turner explains why public policy needs to manage the growth and allocation of credit creation, and why debt needs to be taxed as a form of economic pollution. Banks need far more capital, real estate lending must be restricted, and we need to tackle inequality and mitigate the relentless rise of real estate prices. Turner also debunks the big myth about fiat money—the erroneous notion that printing money will lead to harmful inflation. To escape the mess created by past policy errors, we sometimes need to monetize government debt and finance fiscal deficits with central-bank money. Between Debt and the Devil shows why we need to reject the assumptions that private credit is essential to growth and fiat money is inevitably dangerous. Each has its advantages, and each creates risks that public policy must consciously balance.
Download or read book Payback written by Margaret Atwood and published by House of Anansi. This book was released on 2008 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores debt as a central historical component of religion, literature, and societal structure, while examining the idea of humanity's debt to the natural world.
Download or read book Devil Take the Hindmost written by Edward Chancellor and published by Penguin. This book was released on 2000-06-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A lively, original, and challenging history of stock market speculation from the 17th century to present day. Is your investment in that new Internet stock a sign of stock market savvy or an act of peculiarly American speculative folly? How has the psychology of investing changed—and not changed—over the last five hundred years? In Devil Take the Hindmost, Edward Chancellor traces the origins of the speculative spirit back to ancient Rome and chronicles its revival in the modern world: from the tulip scandal of 1630s Holland, to “stockjobbing” in London's Exchange Alley, to the infamous South Sea Bubble of 1720, which prompted Sir Isaac Newton to comment, “I can calculate the motion of heavenly bodies, but not the madness of people.” Here are brokers underwriting risks that included highway robbery and the “assurance of female chastity”; credit notes and lottery tickets circulating as money; wise and unwise investors from Alexander Pope and Benjamin Disraeli to Ivan Boesky and Hillary Rodham Clinton. From the Gilded Age to the Roaring Twenties, from the nineteenth century railway mania to the crash of 1929, from junk bonds and the Japanese bubble economy to the day-traders of the Information Era, Devil Take the Hindmost tells a fascinating story of human dreams and folly through the ages.
Download or read book The Devil s Derivatives written by Nicholas Dunbar and published by Harvard Business Press. This book was released on 2011-07-12 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: A compelling narrative on what went wrong with our financial system—and who’s to blame. From an award-winning journalist who has been covering the industry for more than a decade, The Devil’s Derivatives charts the untold story of modern financial innovation—how investment banks invented new financial products, how investors across the world were wooed into buying them, how regulators were seduced by the political rewards of easy credit, and how speculators made a killing from the near-meltdown of the financial system. Author Nicholas Dunbar demystifies the revolution that briefly gave finance the same intellectual respectability as theoretical physics. He explains how bankers worldwide created a secret trillion-dollar machine that delivered cheap mortgages to the masses and riches beyond dreams to the financial innovators. Fundamental to this saga is how “the people who hated to lose” were persuaded to accept risk by “the people who loved to win.” Why did people come to trust and respect arcane financial tools? Who were the bankers competing to assemble the basic components into increasingly intricate machines? How did this process achieve its own unstoppable momentum—ending in collapse, bailouts, and a public outcry against the giants of finance? Provocative and intriguing, The Devil’s Derivatives sheds much-needed light on the forces that fueled the most brutal economic downturn since the Great Depression.
Download or read book The Devil Is a Marquess written by Elisa Braden and published by Elisa Braden. This book was released on 2016-04-29 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: When a rake beyond redemption… A walking scandal surviving on little more than wits, whisky, and wicked skills in the bedchamber, Benedict Chatham, the new Marquess of Rutherford, is at the end of his rope. Deeply in debt and down to his last farthing, he must marry nothing short of an absolute fortune, or risk utter ruin. Must marry for money… Enter Miss Charlotte Lancaster, unfashionably tall heiress to just such a fortune and a clumsy, redheaded disaster in her five London seasons. While she dreams of leaving England for a life of trade in America, her father schemes to trade her dowry for a title—and Marchioness of Rutherford will do nicely. Charlotte wants her independence, not a husband, and certainly not a disreputable devil who renders her weak and wobbly with a single scorching glance. But she’s a practical sort, and a year with the devil might buy her freedom … provided she can resist his seductive charms. That shouldn’t prove a problem, for he could not possibly want someone like her, and the feeling is mutual. Really. It is. Love grows in the most unexpected places… When her father demands a startling price for his daughter’s hand—one year of fidelity and sobriety—Chatham must change his libertine ways … at least temporarily. And when he does, Charlotte begins to see him in a new light—not as the scandalous charmer she married, but as the husband she just might adore.
Download or read book Shake Hands With the Devil written by Romeo Dallaire and published by Vintage Canada. This book was released on 2009-02-24 with total page 585 pages. Available in PDF, EPUB and Kindle. Book excerpt: On the tenth anniversary of the date that UN peacekeepers landed in Rwanda, Random House Canada is proud to publish the unforgettable first-hand account of the genocide by the man who led the UN mission. Digging deep into shattering memories, General Dallaire has written a powerful story of betrayal, naïveté, racism and international politics. His message is simple and undeniable: “Never again.” When Lt-Gen. Roméo Dallaire received the call to serve as force commander of the UN intervention in Rwanda in 1993, he thought he was heading off on a modest and straightforward peacekeeping mission. Thirteen months later he flew home from Africa, broken, disillusioned and suicidal, having witnessed the slaughter of 800,000 Rwandans in only a hundred days. In Shake Hands with the Devil, he takes the reader with him on a return voyage into the hell of Rwanda, vividly recreating the events the international community turned its back on. This book is an unsparing eyewitness account of the failure by humanity to stop the genocide, despite timely warnings. Woven through the story of this disastrous mission is Dallaire’s own journey from confident Cold Warrior, to devastated UN commander, to retired general engaged in a painful struggle to find a measure of peace, reconciliation and hope. This book is General Dallaire’s personal account of his conversion from a man certain of his worth and secure in his assumptions to a man conscious of his own weaknesses and failures and critical of the institutions he’d relied on. It might not sit easily with standard ideas of military leadership, but understanding what happened to General Dallaire and his mission to Rwanda is crucial to understanding the moral minefields our peacekeepers are forced to negotiate when we ask them to step into the world’s dirty wars. Excerpt from Shake Hands with the Devil My story is not a strictly military account nor a clinical, academic study of the breakdown of Rwanda. It is not a simplistic indictment of the many failures of the UN as a force for peace in the world. It is not a story of heroes and villains, although such a work could easily be written. This book is a cri de coeur for the slaughtered thousands, a tribute to the souls hacked apart by machetes because of their supposed difference from those who sought to hang on to power. . . . This book is the account of a few humans who were entrusted with the role of helping others taste the fruits of peace. Instead, we watched as the devil took control of paradise on earth and fed on the blood of the people we were supposed to protect.
Download or read book The Devil s Financial Dictionary written by Jason Zweig and published by PublicAffairs. This book was released on 2015-10-13 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Your Survival Guide to the Hades of Wall Street The Devil's Financial Dictionary skewers the plutocrats and bureaucrats who gave us exploding mortgages, freakish risks, and banks too big to fail. And it distills the complexities, absurdities, and pomposities of Wall Street into plain truths and aphorisms anyone can understand. An indispensable survival guide to the hostile wilderness of today's financial markets, The Devil's Financial Dictionary delivers practical insights with a scorpion's sting. It cuts through the fads and fakery of Wall Street and clears a safe path for investors between euphoria and despair. Staying out of financial purgatory has never been this fun.
Download or read book Devil and the Bluebird written by Jennifer Mason-Black and published by Abrams. This book was released on 2016-05-17 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: Blue Riley has wrestled with her own demons ever since the loss of her mother to cancer. But when she encounters a beautiful devil at her town crossroads, it’s her runaway sister’s soul she fights to save. The devil steals Blue’s voice—inherited from her musically gifted mother—in exchange for a single shot at finding Cass. Armed with her mother’s guitar, a knapsack of cherished mementos, and a pair of magical boots, Blue journeys west in search of her sister. When the devil changes the terms of their deal, Blue must reevaluate her understanding of good and evil and open herself up to finding family in unexpected places. In Devil and the Bluebird, Jennifer Mason-Black delivers a captivating depiction of loss and hope.
Download or read book A Deal with the Devil written by Blake Ellis and published by Simon and Schuster. This book was released on 2018-08-07 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A personal how-to guide for investigative journalists, a twisted tale of a scam of huge proportions, and a really good read” (Bethany McLean, author of The Smartest Guys in the Room), this spellbinding true story follows a pair of award-winning CNN investigative journalists as they track down the mysterious psychic at the center of an international scam that stole tens of millions of dollars from the elderly and emotionally vulnerable. While investigating financial crimes for CNN Money, Blake Ellis and Melanie Hicken were intrigued by reports that elderly Americans were giving away thousands of dollars to mail-in schemes. With a little digging, they soon discovered a shocking true story. Victims received personalized letters from a woman who, claiming amazing psychic powers, convinced them to send money in return for riches, good health, and good fortune. The predatory scam had been going on unabated for decades, raking in more than $200 million in the United States and Canada alone—with investigators from all over the world unable to stop it. And at the center of it all—an elusive French psychic named Maria Duval. Based on the five-part series that originally appeared on CNN’s website in 2016 and was seen by more than three million people, A Deal with the Devil picks up where the series left off as Ellis and Hicken reveal more bizarre characters, follow new leads, close in on Maria Duval, and connect the dots in an edge-of-your-seat journey across the US to England and France. A Deal with the Devil is a fascinating, thrilling search for the truth that will suck you “deep into the heart of a labyrinthine investigation that raises bigger questions about greed, manipulation, and the desperate hunger to believe” (Megan Abbott, author of You Will Know Me).
Download or read book Outwitting the Devil written by Napoleon Hill and published by Sharon Lechter. This book was released on 2011 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally written in 1938 but never published due to its controversial nature, an insightful guide reveals the seven principles of good that will allow anyone to triumph over the obstacles that must be faced in reaching personal goals.
Download or read book The Devil I Know written by Claire Kilroy and published by Grove/Atlantic, Inc.. This book was released on 2014-01-28 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: In exile after being ousted from the family castle, recovering alcoholic Tristram St. Lawrence finds himself back in Dublin when an old acquaintance pitches a development project that his sponsor, a mysterious businessman, supports.
Download or read book Devil s Prize written by Kat Martin and published by St. Martin's Paperbacks. This book was released on 2014-02-25 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Kat Martin is a premier historical romance author...and Devil's Prize enhances her first-class reputation." —Affaire de Coeur HER VIRTUE COMES AT A HIGH COST At a gaming table where he cheated Lady Alexa Garrick out of a fortune, Damien, Lord Falon, made a scandalous proposal to the exquisite young heiress—one night in his bed would discharge her debt. Yet, as he claimed his prize, the handsome earl fought a craving for more than Alexa's body. When a twist of fate turned seduction into matrimony, rapture and rage warred within him. How could he love the woman whose flirtation had destroyed his brother? HIS DESIRE: PRICELESS... Alexa knew of Damien's French blood, scandalous liaisons, and the whispers that branded him a smuggler. Though she was playing with fire, the dark, devil-earl's hungry embrace plucked at her heartstrings with a haunting song of desire. But how could she be sure whether Damien was drawing her into a web of danger and deceit...or offering her his true and lasting love?
Download or read book The End of Alchemy Money Banking and the Future of the Global Economy written by Mervyn King and published by W. W. Norton & Company. This book was released on 2016-03-21 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Mervyn King may well have written the most important book to come out of the financial crisis. Agree or disagree, King’s visionary ideas deserve the attention of everyone from economics students to heads of state.” —Lawrence H. Summers Something is wrong with our banking system. We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance. The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation. How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.
Download or read book Too Little Too Late written by Martin Guzman and published by Columbia University Press. This book was released on 2016-05-10 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current approach to resolving sovereign debt crises does not work: sovereign debt restructurings come too late and address too little. Though unresolved debt crises impose enormous costs on societies, many recent restructurings have not been deep enough to provide the conditions for economic recovery (as illustrated by the Greek debt restructuring of 2012). And if the debtor decides not to accept the terms demanded by the creditors, finalizing a restructuring can be slowed by legal challenges (as illustrated by the recent case of Argentina, deemed as "the trial of the century"). A fresh start for distressed debtors is a basic principle of a well-functioning market economy, yet there is no international bankruptcy framework for sovereign debts. While this problem is not new, the United Nations and the global community are now willing to do something about it. Providing guidance for those who intend to take up reform, this book assesses the relative merits of various debt-restructuring proposals, especially in relation to the main deficiencies of the current nonsystem. With contributions by leading academics and practitioners, Too Little, Too Late reflects the overwhelming consensus among specialists on the need to find workable solutions.
Download or read book Economics After the Crisis written by Adair Turner and published by MIT Press. This book was released on 2012-03-23 with total page 123 pages. Available in PDF, EPUB and Kindle. Book excerpt: A noted economist challenges the fundamental economic assumptions that cast economic growth as the objective and markets as the universally applicable means of achieving it. The global economic crisis of 2008–2009 seemed a crisis not just of economic performance but also of the system's underlying political ideology and economic theory. But a second Great Depression was averted, and the radical shift to New Deal-like economic policies predicted by some never took place. Perhaps the correct response to the crisis is simply careful management of the macroeconomic challenges as we recover, combined with reform of financial regulation to prevent a recurrence. In Economics After the Crisis, Adair Turner offers a strong counterargument to this somewhat complacent view. The crisis of 2008–2009, he writes, should prompt a wide set of challenges to economic and political assumptions and to economic theory. Turner argues that more rapid growth should not be the overriding objective for rich developed countries, that inequality should concern us, that the pre-crisis confidence in financial markets as the means of pursuing objectives was profoundly misplaced.
