Publishing House: CITIC Publishing House
Page number: 246 pages
Publication date: 2009
ISBN:97875086 13789
Bar code: 97875086 13789
Version: 1 version
Binding: paperback
Page number: 16
Chinese: Chinese
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brief Introduction of the content
How did the American economy fall into recession? "Clearing America" believes that the economic situation of the United States exactly reflects the "moderate recession" experienced by Japan. The structural response to the financial boom and the aging population has brought the United States to the brink of complete liquidation. Clearing America makes a penetrating and profound analysis of major events in American politics and military affairs and the relationship between economy and finance, which effectively suppresses the close relationship between these events and economic turmoil. In the book, you will know: Why did the stock market bubble burst in the information age?
Why does consumerism with high consumption and high credit make the American economy go into recession? Will America decline like Japan? What is the legacy of Federal Reserve Chairman Ben alan greenspan? In the future, will the aging population affect the stock price more than fiscal policy? Depression is not necessarily a thing of the past. All kinds of problems accumulated in history will break out at some time when time goes by. How did the economic situation in the United States develop to today? How will the future develop? Clearing America will bring you unimaginable inspiration.
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Brief introduction of the author
William Boner, Chairman and CEO of Agora Publishing Group, is the founder of daily settlement, a financial newsletter. Daily Settlement has more than 500,000 readers in the United States and Britain, and has been translated into French, German and Spanish, which has been highly praised by mainstream media. He is also the author of the best-selling Debt Empire and the co-author of Rogue Country.
Addison Wiggin is the editor-in-chief and publisher of Daily Settlement, and also the executive director of a financial investigation company with a turnover of one million dollars and AgoraFinancial Publishing Group. He has published many articles in The New York Times, Money, TheStreet.com and CNN. He worked at Cato Institute in Washington, D.C., and received a master's degree in philosophy from St. John's University. Author of Falling Dollar and co-author of Debt Empire.
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Media recommendation
History has proved that the economy of countries where people generally save and invest will grow and prosper, and vice versa, it will decline, deteriorate or even collapse. This book expounds the artificially low interest rate and fast credit policies set by Greenspan and the Federal Reserve, which led to the bubble in the American stock market in the late 1990s. The policies implemented by the Federal Reserve exacerbated the deterioration of the bubble, turning a simple stock market bubble into a consumption and housing bubble. When these bubbles burst, the situation will get worse. ...
Jim rogers, one of the founders of Quantum Fund, is an internationally renowned investor.
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Editor's recommendation
Instead of saving and investing in profitable new projects, Americans choose luxury consumption that exceeds their income level. Now, the day of reckoning has come.
The American economy is repeating the script written by Japan. Except for a little improvisation and cultural differences, the beauty story in 1995 ~ 200 1 is basically similar to the Japanese story in 1985 ~ 199 1.
The economy of a consumer society can no longer generate the income that ordinary Americans need for retirement. As the baby boomers approach retirement age, if they decide to save at a rate of 5%, it will lead to a recession that has never happened in years.
The United States needs to find a new economic model and can no longer hope to achieve prosperity through consumption and loans. This is not a periodic change, but a lasting structural change.
In the past half century, the continuous development of consumerism has brought the United States to a critical moment in history. Will America fall into the biggest depression in history?
All economic, military, demographic and American problems will be solved today.
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catalogue
Foreword jim rogers VII
Introduce XI
The first chapter is the era of excessive expansion.
From Pioneer to Fool 5
Break down because of too much money
Will the day of reckoning come? 10
Greedy "new human" 1 1
The Real Fate of Virtual Profit 14
A scam caused by excitement 16
A small needle burst the foam 18.
Crazy and absurd mergers and acquisitions 20
General Motors and the Old Economy 22
The price of madness 23
Can information create eternal prosperity? 25
Internet has caused stock prices to skyrocket and plummet, 27
Information makes us ignorant.
The temptation of the public 3l
Chapter II All capitalism has shortcomings.
Arrogant Americans 35
Backward 36
Is development inevitable? 38
Technology produces a larger foam 38.
Millennium optimist 39
Is the price really as predictable as rolling dice? 4l
The market has never been objective and calm.
Absurd efficient market hypothesis 45
The instability of capitalism
The vicious circle of credit 47
The third chapter speculation 49
A murder at 5 1 Campoy Street, Gan.
Mississippi fever 52
The legendary life of john law 53
Scots who have no money to lose 54
Legal tender will be issued at 55.
Creating money 57
Save the royal family's finances 58
The foam expanded 60 times.
Soaring stock prices.
The end of paper money 63
Liars and prophets 65
A brief history of speculative fanaticism 66
The fourth chapter like Japan decline 7 1
Different Japan 73
Characteristics of Japanese economy
Weird capitalism 76
Japan's prosperity 77
Miracle Bubble 79
Self-inflating 8 1
Consumption spree 82
From credit inflation to credit crunch 84
The collapse of the economic miracle
The lost decade 86
Financial scandal 90
The American economy similar to Japan is 9l.
Never change your ancestors 92
Irrecoverable Japanese economy
Collective illusion 95
Latent "vampire company" 96
The failure of the central bank 97
The frightened Federal Reserve 99
Long-term slow decline 100
Chapter V Greenspan's Big Bubble 103
Flexible monetary system 105
Lincoln Green Coin 107
From depravity to depression 109
Rational egoism 1 13
Gold and economic freedom 1 15
The temptation of Greenspan 1 16
The greatest prosperity in economic history 1 19
Irrational prosperity +02 1
Saver Greenspan 123
Productivity scam 124
Wrong bull market 126
Junk bonds and bad gambling are about 127.
Unfathomable benefits 129
The most valuable banknote 130
Disintegration of the myth of selling rights 132
Interest rate cuts are futile 133
Failed vision 135
The sixth chapter unreasonable ou 139
Popular madness 14 1
The Magic of Group Thinking 143
Empty reasoning 144
Abstract public knowledge 146
Unreliable reasons 147
Almost ignorant 148
Mass control 149
The purpose of group thinking 149
Smashed popular myth 15l
Universal belief 152
American century 153
Democratic consumer capitalism 153
Modem moderate decline 154
Group risk 155
Great influence on capitalism 156
Shareholder country 158
Chapter VII America is about to fall into a long recession
Population change 162
Aging West 164
Effects of aging 165
Retirees 167
Baby boomers 170
The rise of consumer society 172
The illusion of prosperity 175
Capitalism in the Late Recession 178
Stock market executives 180
Big fantasy 18 1
The coming depression 183
Unreliable social security 1 86
Fragile pension plan 187
Inflation of medical expenditure 188
More unemployed 188
Chapter VIII It's time to liquidate America.
Low-interest bait 197
Savings have become public enemy 198.
Consumer confidence 199
Dangerous dollar 202
Abnormal downturn 203
Japan's recession 207
Real wealth and poverty 208
Facts and Lies 2 10
Junk coin 2 12
Economic dead end 2 15
Timely economy 2 16
Overwhelming empire 2 17
Inflation panacea 22l
Can war make you rich? 223
Chapter 9 Abnormal recession after abnormal prosperity 225
Serves you right. You deserve it.
The increase of moral hazard 232
After the bubble 234
Sad dollar depreciation process 237
The danger of new consumption carnival 239
A once-in-a-decade deal
Enjoy the end of the world 244
Confirmation 246
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foreword
Some people want to buy a baseball team, others want to be a playboy, but I heard that when asked what they want to do most, the most common answer of young people is: "I want to travel around the world."
I traveled around the world twice: once by bike and once by Mercedes-Benz. I feel much crazier than the average person.
I like traveling around the world, but I don't like any other adventure activities-of course I like adventure, because it's the only way I can really understand what's happening in this world. I don't believe in newspapers, TV or government announcements. These can only make everyone see the same thing. I want to be there, see it with my own eyes, or even experience it personally.
When you cross the barren border, look for the black market, exchange money or talk with local people, you can learn more about the local society and have a deeper understanding, which is not what you can learn from listening to officials and economists of the International Monetary Fund and the World Bank in general, or watching the financial channel of the American consumer news and business channel.
When I crossed the border and arrived in a country, I had learned all kinds of situations in this country. I know the bureaucracy, infrastructure, corruption and economic and monetary conditions of this country. I also know whether I will invest here.
Another way to understand what is happening in the world is to study history. When I give lectures in universities, young people always ask me this question: "I want to be successful, I want to travel around the world, so what should I study?"
I always give them the same answer: "study history."
They always look at me blankly: "What do you mean ... economics? What about marketing? "
"If you want to succeed," I always answer, "you must know history. You will find that although the world is always changing, many things we see today have actually happened before. Believe it or not, the stock market didn't start running on the day you graduated. The stock market has existed for centuries. This is true in all markets. These have happened a long time ago and will continue to happen. "
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abstract
Baby boomers
From 1946 to 1964, the number of new students in the United States reached 78 million-the largest baby boom in American history. By the mid-1980s, baby boomers had become the largest generation, accounting for 1/3 of the national population in the United States. 1200,000 cans of baby food were sold in 1953, and1500,000 credit cards were issued in 2002. Thanks to these, the existence of "baby boom" is well known to the world.
There have been many descriptions and comments on the scale and influence of the baby boomer generation, so I won't repeat them here, only adding that in the history of the public, no one can realize its greatness and importance more than the 79 million newborn population after World War II. Never before have so many people grown up at the same time. Thanks to modern means of communication, mainly television, baby boomers can keep in touch wherever they are. Baby boomers watch Mickey Mouse Club, US Baby and dick clark's American concerts together, and find themselves in these programs. Spend a lot of time in front of the TV so that they not only know how to dance, but also know what kind of music to listen to, how to dress up and how to think. Such a scene has never happened before.
It seems to be a cliche that this huge group has integrated into American society and changed the face of American society. And the baby boomers have become a crazy generation-crazier than any other group in history-and the extent of this madness seems to have not been fully understood. Baby boomers absorb any ideas that can interest them, simplify them, then publicize them widely, spread them widely, and then indulge in them like favorite pop songs. These people are cynical when they are young, and become mediocre in middle age. Considering the influence of the huge number of this generation on the stock market, the baby boomers have created a grand economic prosperity. Next, these people will create a great recession.
"'I am a student, not a computer card! Don't fold me, don't stick me in paper, and don't hurt me! This is the content on the warning sign in front of the Spreux Auditorium of the University of California, Berkeley. 1964. "William Strauss and Neil Howe wrote in their book The Fourth Turn. Many people targeted by this warning will go to work in Silicon Valley companies in a few decades, but at this time, they are still laughing at the school's treatment of their "computer cards".
Allen ginsberg and the "Beat Generation" expressed their views through quiet poems and songs, while the baby boomers took to the streets to complain. Baby boomers never have a clear idea of what they should complain about and who they should complain about. "Hippies of the baby boomers advertise their' non-negotiable demands' widely, but they don't care who is listening." Strauss and Howe say this in the book.
"Listen, start, leave!" They shouted.
In the 1960s, a vibrant economy provided job opportunities for everyone who wanted to work. pass by