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19 of 19 people found the following review helpful
5.0 out of 5 stars Back to Business
Roubini and Mihm's book is one of the best I have read on the current economic crisis. Particularly lucid, comprehensive and insightful, it not only explains the causes and effects of the crisis, but also places it in an illuminating historical context. The authors show that repeating crises are the normal state of affairs in capitalism and not the exceptional or 'black...
Published on 7 May 2011 by Diziet

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1.0 out of 5 stars A SIMPLE REPETITION
Once again, this is an example of a book that claims to achieve an objective that it does not even touch upon.

How to prevent a financial crisis????? Where???? What page???? What sentence????

A crash in the future of finance???? Where???? What page???? What sentence????

UTTER LIES.

Another basic 'economist' that simply narrates...
Published 3 months ago by THE TRUTH


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1 of 2 people found the following review helpful
5.0 out of 5 stars best practice, 17 Nov. 2010
By 
Bernd Kotz (Essen, Germany) - See all my reviews
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Both authors write a beautiful book. It is about how economics work. The crises are the parts that are often occur in the economy. The speculative bubbles are a result of a long term well-being. The money goes to where the return maximises their profits. When the boom is over the prices of the stocks fall. The rashness is a typical sign of the turn of the economy. You can see it in the collapse of Lehmann Brothers. The sign of a downturn was heralded by Roubini. In the booming real estate cycle the problems occur in 2007. Since then it was a downturn. Both authors show the different crises in the stock market since the mania in the Netherlands in the 17th century. The stock market influences the world economy. After the 800 milliard dollar of toxic assets is stored in the bank accounts, the problem gets worsen to the real economy. There was no more money to finance the world trade. The new financial products are the beginning of the crises. The lax regulation made it very easy to make money. Low interest rates and a favour for home owners make these booming economies a great place to work for the banks. The shadow banks are the real problem for the economy. They are not regulated over the accounting standards. They take more credit money to finance their businesses. The moral hazard shows how opaque the derivatives are. The book by Walter Bagehot shows the problems of a banking crisis. Both authors take the change to compare the theoretical demonstration in the book to the real outturn in the economy. What we need is a mixture of a Keynesian economics and an Austrian school economics to get rid of the problem. They discuss the money market instrument from the Federal Reserve and goes to the spending programs from the government. The final regulation must come from the payment system of the bankers. They force towards a risk taking behaviour. The principle-agent-problem forces them to abuse it. The second regulation must come from the rating agencies and the third from the derivatives. If you had a CDS in your account, you must have the risk in your portfolio. The last steps for a new financial system are a better regulation of banks. The new financial innovations must be controlled too. The banks are not too big to fail". They must be regulated if you see a problem in the banking sector and a good system must take these bad players from the playing field. A return to Glass Steagall Act would be a new order in the rules for the banks. No investment bank should play in the field of an insurance company and no ordinary bank should take these massive investments in the derivative markets.
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0 of 1 people found the following review helpful
5.0 out of 5 stars I wish that other economics book were like this, 29 Nov. 2011
By 
A. J. Sudworth "tonysudworth" (UK) - See all my reviews
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.. this is a very readable account of the economic crisis that surfaced on 2007/08 and continues to this day
What is excellent is that the style is very clear and rather than focus on 'he did that, they did this' its looks at the origins of the problems, and how they are in fact a symptom of an underlying problem in the way the financial system is structured.

What was particularly good was the way this version has an afterword which shows clearly that what he predicted has in fact happened - and then you read the Eurozone section - ouch!

The book has a clear view on what could be done to reduce these bubbles that generate the busts we're seeing today - but I don;t see politicians doing it as its a tough message

But overall its a compelling read, clear explanations of the economics (current account deficits - all clear now..) underpinning the problem and some clear predictions on the next few years potential headlines in the FT
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0 of 1 people found the following review helpful
2.0 out of 5 stars Expected more insight out of the book, 8 Nov. 2013
There are many well written accounts of the crisis. This one is very mediocre in terms of retelling the past. From that perspective, The Big Short is better if you want to focus on the mortgage aspects and a humorous account of it. Too Big To Fail is very good in terms of being a blow by blow account (as close as you can probably get). The second aspect is what felt like the endless banker bashing, as though Mr Mainstreet taking out a mortgage he can't afford has no responsibility for his own poor decision. Thirdly, in terms of being an insightful book on how to form an opinion of the future, I would say that given the book was written in 2010, that credit is due to pointing out that sovereigns took on too much risk from the financial system, which basically led to the 2011 sov crisis. Bravo. Beyond that, there was a bunch of lecturing about more regulation of banking, which is widely argued for.
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0 of 1 people found the following review helpful
5.0 out of 5 stars an electric light moment!, 22 May 2013
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A good book for dorks and mensa members alike. I do not believe that this book will date as the information included is difinitive
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3 of 7 people found the following review helpful
5.0 out of 5 stars Excellent book!, 21 Jun. 2010
Excellent book written in easy-reading style. If you wanna know, what's really been behind recent fincial and economic crisis, read this book! It really is worth of your money.
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4 of 12 people found the following review helpful
1.0 out of 5 stars Great book - however....., 2 Nov. 2012
By 
Lee Smith "Ginger" (Singapore) - See all my reviews
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I think an excellent book - breaks down the history of these events very well and presents interesting and well thought out analysis. Would recommend to anyone.

Then why then 1 star? It's not due to the book - that is excellent, the 1 star is a protest of the kindle book being priced at GBP8.99 and the paperback is GBP7.69. I bought the paperback.... (but then I'm an Amazon prime account holder). It makes me wonder the point of having a Kindle if the e-books are more expensive than a hard copy that I can lend/give away to people if I feel like it. This is becoming increasingly common on Amazon and in my view they should NEVER be more expensive. Perhaps its time to look at other e-book formats?....
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Crisis Economics: A Crash Course in the Future of Finance
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