About the book -
The stunning rise in household, financial and government borrowing over the 2000-
True to form, what has been the government response to a problem caused by too much borrowing? It beggars belief to hear economists and politicians argue that more stimulus is needed to boost demand. The problem was created in the first instance by the creation of too many things. Too many houses. Too many SUVs. Too many flatscreen TVs. The false illusion of wealth allowed households to believe that they needed and should have all these new things, even if they did not have the income to pay for them. The problem has never been about a lack of demand. The problem has been about too much supply and the artificial demand that was created by excess borrowing to satisfy that excess supply.
The solution to the problem is not to re-
This book explains how this process unfolds and the type of assets that typically benefit as a result.