Leverage: How Cheap Money Will Destroy the World

Overview

Leverage is an essential part of the financial system, and whenused properly it allows businesses to borrow funds to invest ingrowth and expansion, offers opportunities for reasonably pricedhousing, and much more. But current imbalances in the ways in whichleverage is being used by the rich and powerful in the UnitedStates and abroad have led to an alarming situation that threatensto shake the global economy to its core.

In Leverage: How Cheap Money Will Destroy the World, ...

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Leverage: How Cheap Money Will Destroy the World

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Overview

Leverage is an essential part of the financial system, and whenused properly it allows businesses to borrow funds to invest ingrowth and expansion, offers opportunities for reasonably pricedhousing, and much more. But current imbalances in the ways in whichleverage is being used by the rich and powerful in the UnitedStates and abroad have led to an alarming situation that threatensto shake the global economy to its core.

In Leverage: How Cheap Money Will Destroy the World, well-knownmarket commentator Karl Denninger literally follows the money,tracing the path it has taken through history and discovers ashocking truth—the power to control a nation's purse stringsis addictive, and when that power falls into the hands of only aselect few, they will pull the levers of government and policy toenrich themselves at the expense of everyone else. History islittered with the stories of collapsed monetary systems, and inevery case the debasement of the currency in question, and thedisasters that followed, can be directly blamed on excessiveleverage, deployed in ill-intentioned and fraudulent ways by theelite.

The current Great Recession is no exception to this rule. It wasno accident, and the politicians and monied interests responsibleknew that it was coming. Special interests and other influentialindividuals have always used leverage to enrich themselves whilelooting the population at large. Eventually the bill always comesdue and then we all have to pay.

With Leverage in hand, we can avoid this disaster, and Denningershows how. With practical, realistic ideas for fixing the financialsystem, devising sound energy policies, and more, the book standsbetween us and a debt we simply can't afford.

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Product Details

  • ISBN-13: 9781118122846
  • Publisher: Wiley
  • Publication date: 11/15/2011
  • Edition number: 1
  • Pages: 205
  • Sales rank: 619,774
  • Product dimensions: 6.20 (w) x 9.00 (h) x 1.10 (d)

Meet the Author

Karl Denninger founded The Market Ticker®(market-ticker.org), a blog dedicated to uncovering marketmischievousness. He is also a columnist on SeekingAlpha.com and hasappeared on MSNBC with Dylan Ratigan, on CNBC, and is a frequentguest on WBAL talk radio in Baltimore. He produces a weeklyInternet radio segment on BlogTalkRadio with real-time call-insfrom listeners and occasional invited guests. Karl is also one ofthe original founders of the Tea Party movement, and, along withFedUpUSA, launched the first financial protests related to thebailout of banking institutions after the failure and forcedtakeover of Bear Stearns. Previously, he was CEO of Macro ComputerSolutions, and is a self-made entrepreneur and millionaire.

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Table of Contents

Foreword xi

Acknowledgments xv

Introduction xvii

Part One Leverage and Its Abuses in the Economy 1

Chapter 1 An Economic Future for America 3

Chapter 2 Principles of Financial Leverage 11

Chapter 3 The Aughts or the Aught-Not-Haves 37

Chapter 4 The Failure of Kicking the Can 95

Part Two A Way Forward 119

Chapter 5 The Folly of Avoidance 121

Chapter 6 Reinstating the Rule of Law 127

Chapter 7 Reforming the Fed, Lending, and Derivatives 137

Chapter 8 Fixing Social Security, Pensions, and Health Care151

Chapter 9 Structural Fixes for Trade, Taxation, and Federalism161

Chapter 10 Devising a Sound Energy Policy 173

Conclusion 183

Notes 187

About the Author 193

Index 195

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