Informative, Crash Course Reference Book?
John Mauldin, has written a thought-provoking piece titled…“Thoughts On The End Game”
This piece includes a nice overview of a book released in September 2009…
“This Time is Different: Eight Centuries of Financial Folly”
by Carmen M. Reinhart, Kenneth Rogoff
Succinctly, this book…provides…
- Catalogs 250 financial crisis events over the past 800 years.
- Key finding: Too much debt always the driver
- Second finding: Production and Income trends and their roles in deleveraging and risk of inflation vis a vis deflation.
- Conclusion: Economic contraction always occurs. Hence: SOBERING Reading.
- Governments have limited control of the end game…inputs to the path taken.
This book…offer can be a useful supplement to the Crash Course…insight to future decisions of preparedness and so on.
The linked post above has enough information for the interested reader to consider reading this book…one I define as an essential book for better understanding the risks, drivers of our financial future and dovetails with economic points in Crash Course of “Too Much Debt”.
This book may influence many of your decisions.
Any Thoughts…either of John Mauldin post and/or the book?
Should it be added to CM’s “Essential Book” list?