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The End of the Debt SuperCycle and How It Changes Everything
John Wiley & Sons Inc
March 2011
On Sale: March 8, 2011
320 pages ISBN: 1118004574 EAN: 9781118004579 Hardcover
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Non-Fiction
"We all know we have seen the end of an era, and now we have
courtside seats to watch the Endgame unfold. We are watching
the end of Act I: The Debt Supercycle. Now we will get to
see how Act II: The Endgame plays out."—John Mauldin &
Jonathan Tepper (Chapter 1, page 4) Hundreds of books
have been written about the financial crisis that engulfed
the world after Lehman Brothers went bankrupt. But what if
the bigger financial crisis is ahead of us, not behind us?
As John Mauldin and Jonathan Tepper deftly illustrate
in this controversial book, the crisis was more than a
half-century in the making. The Great Financial Crisis,
however, was merely Act I. Act II has now begun. The
massive household deleveraging and historic shift of private
debt onto government balance sheets now underway all over
the world represents the end of a sixty-year global Debt
Supercycle. We have now entered the Endgame, a time when
bankruptcies and defaults (disguised as "restructuring")
will not be of households and companies but of governments.
The stakes are now higher. The coming crises will offer
policymakers few good choices and many bad ones. It will
require extraordinary clarity and courage from leaders,
courage that so far is largely completely lacking.
Yet, despite the authors' dark forecast, the message
in Endgame is not all gloom and doom. The book lays out
positive steps governments can take to weather the worst of
the stormy days ahead, minimize the inevitable pain and
discomfort most of us can expect to experience, and chart a
bold new course to sustained economic growth and prosperity.
It also offers investors an abundance of useful
analysis and expert advice on how to protect their assets
during the worst of it and prosper from the many new
opportunities that will emerge globally as they present
themselves. In Part 2, the authors take readers on a
country-by-country tour—including the United States, UK,
European countries, and Japan—clearly explaining the
problems each country faces, as well as the good and bad
policy options open to each, and the investment pitfalls and
opportunities likely to be found in each national
economy. Whether you call it the Great Recession, the
Great Financial Crisis, or the Global Debt Crisis, what we
are experiencing is unlike anything seen in eighty years.
Now is not the time to succumb to panic and superstition. It
is a time for courage and intelligent decision making
informed by the brand of rational analysis and wisdom you'll
find in Endgame.
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