The Global Debt Trap How to Escape the Danger and Build a Fortune

by Vogt, Claus; Leuschel, Roland; Weiss, Martin D.

• ISBN13: 9780470767238
• ISBN10: 0470767235
• Edition: 1st
• Format: Hardcover
• Copyright: 2010-12-07
• Publisher: Wiley

Summary

Since the financial bubble burst, the U.S. has created and pushed a monetary and fiscal policy which was at best blatantly wrong - and at worst carried an enormous financial risk -- and this is what started the real estate bubble. Those responsible repudiated the clearly visible problems and closed their eyes to the huge risks involved. Using quotes from their own work of the past few years, the authors prove that the dangers could indeed be clearly recognized: absurd rises in real estate prices and almost unbelievable excesses in bank lending (securitization of accounts receivable, credit insurers, and derivatives). The authors describe how the creators of the ever-present propaganda machine are systematically diverting attention from the fact that it was government interference in the market economy which brought us to where we are now, namely at the beginning of a financial calamity. They also describe what form the governments' and central banks' interventionist answers to the crisis take - and where they presumably will take us. This is an extremely transparent plea for the market economy. The book provides a lucrative message for readers: Every crisis - even the current one - offers fantastic opportunities for those who have prepared for it.

Author Biography

CLAUS VOGT is Managing Director of asset management firm Aequitas Capital Partners. He edits Money and Markets in the U.S. plus Sicheres Geld ("Safe Money") in Germany, and is co-author of the German bestseller, Das Greenspan Dossier.

ROLAND LEUSCHEL is coauthor of Das Greenspan Dossier and a regular columnist for Börse Online, Germany's leading stock market publication. He accurately predicted the 1980s bull market and is often called the "Crash Prophet" for his prescient warnings of the stock market crash of 1987.

Table of Contents

Foreword	p. vii
Introduction: The Global Debt Trap	p. 1
Why the Debt Crisis Was Predictable	p. 11
Real Estate, Banks, Bubbles and Debts: A Look at the Extent of the Real Estate Bubble	p. 37
The Great Money Game: Warning: Reading on May Seriously Damage Your Faith in Government	p. 65
The Road to (Hyper)Inflation	p. 85
How Could It Have Come to This?	p. 115
What Can You Do Now?: Forecasting in Difficult Times	p. 151
A Future Retrospective	p. 211
Notes	p. 217
About the Authors	p. 221
Index	p. 223
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