Bubbles : And How to Survive Them

by Calverley, John P.

• ISBN13: 9781857883480
• ISBN10: 1857883489
• Format: Hardcover
• Copyright: 2004-10-01
• Publisher: Consortium Book Sales & Dist

Summary

Housing equity, 401Ks, Pension funds. They all may be vulnerable to the next bursting bubble. John Calverley lays out the fundamentals of our asset-backed economy and explores the powerful implications for individuals, businesses, central banks, and policy makers.

Author Biography

John P. Calverley is Chief Economist and Strategist at American Express Bank.

Table of Contents

Foreword	ix
Preface	xi
Introduction: Why Bubbles Matter	1	(8)
PART I BUBBLE AND BUST	9	(62)
An Anatomy of Bubbles	11	(15)
The Great Depression	26	(16)
Japan and the Specter of Deflation	42	(15)
The Greenspan Bubble and Reflation	57	(14)
PART II HOUSING: THE NEXT CRASH?	71	(50)
The Worldwide Boom	73	(11)
Britain Nears the Top	84	(13)
A US Bubble?	97	(10)
Household Debt and Monetary Policy	107	(14)
PART III ORIGINS AND SOLUTIONS	121	(74)
The Pathology of Bubbles	123	(14)
Valuing Markets Sensibly	137	(22)
New Policy Approaches	159	(22)
Strategies for Investors	181	(14)
Final Thoughts: Living with Bubbles	195	(8)
Notes	203	(12)
Index	215