Greece isn’t the only country drowning in debt. The Debt
Supercycle–when the easily managed, decades-long growth of
debt results in a massive sovereign debt and credit crisis–is
affecting developed countries around the world, including the
United States. For these countries, there are only two options, and
neither is good–restructure the debt or reduce it through
austerity measures. Endgame details the Debt Supercycle and
the sovereign debt crisis, and shows that, while there are no good
choices, the worst choice would be to ignore the deleveraging
resulting from the credit crisis. The book:
* Reveals why the world economy is in for an extended period of
sluggish growth, high unemployment, and volatile markets punctuated
by persistent recessions
* Reviews global markets, trends in population, government
policies, and currencies
Around the world, countries are faced with difficult choices.
Endgame provides a framework for making those choices.
Jadual kandungan
Acknowledgments xiii
Introduction: Endgame 1
Part One: The End of the Debt Supercycle 11
Chapter 1: The Beginning of the End 15
Chapter 2: Why Greece Matters 31
Chapter 3: Let’s Look at the Rules 45
Chapter 4: The Burden of Lower Growth and More Frequent Recessions 73
Chapter 5: This Time is Different 91
Chapter 6: The Future of Public Debt: An Unsustainable Path 109
Chapter 7: The Elements of Deflation 133
Chapter 8: Inflation and Hyperinflation 157
Part Two: A World Tour: Who Will Face Endgame First? 175
Chapter 9: The United States: The Mess We Find Ourselves In 181
Chapter 10: The European Periphery: A Modern-Day Gold Standard 215
Chapter 11: Eastern European Problems 233
Chapter 12: Japan: A Bug in Search of a Windshield 247
Chapter 13: The United Kingdom: How to Quietly Inflate Away Your Debt 261
Chapter 14: Australia: Could It Follow in Ireland’s Footsteps? 273
Chapter 15: Unintended Consequences: Loose Monetary Policies and Emerging Markets 283
Conclusion: Investing and Profiting from Endgame 293
Epilogue: Some Final Thoughts 297
Notes 301
About the Authors 309
Index 311
Mengenai Pengarang
JOHN MAULDIN is a renowned financial expert, a multiple New York Times best-selling author, and a pioneering online commentator. His weekly e-newsletter, Thoughts From The Frontline, was one of the first publications to provide investors with free, unbiased information and guidance. Today, it is one of the most widely distributed investment newsletters in the world, translated into Chinese, Spanish and Italian. He is regularly seen on TV and in national print media. President of Millennium Wave Investments, he is the father of seven children (five adopted) and lives in Dallas, Texas.
JONATHAN TEPPER is the founder and Chief Editor of Variant Perception, a macroeconomic research group catering to hedge funds and high-net-worth individuals.
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