Overview

"During the Great Depression, legendary British economist Keynes advocated using government money to fill the economic void until consumer spending and business investment recovered. But what happens when governments can't do that anymore? You've arrived at ""The Keynesian Endpoint"": when the money has run out before the economy has been rescued. That's where we are. Exhausted balance sheets leave policy makers with few viable options to bolster economic growth; increasingly, they point leaders and citizens towards brutal choices that were previously unimaginable. Meanwhile, investors struggle to navigate volatile markets overwhelmed by sovereign debt—and, as they do, they lose tolerance for fiscal recklessness.   In the U.S. and around the world, debt-fueled spending programs devised to cure the global financial crisis are now morphing into poison. In Beyond The Keynesian Endpoint, PIMCO Executive Vice President and market strategist Tony Crescenzi illuminates the mounting sovereign debt crisis, dissects each of the many scenarios now swirling around it, and reveals the profound implications for governments, investors, and the world economy."

Full Product Details

Author:   Tony Crescenzi
Publisher:   Pearson Education (US)
Imprint:   Financial TImes Prentice Hall
Dimensions:   Width: 16.60cm , Height: 2.30cm , Length: 23.20cm
Weight:   0.550kg
ISBN:  

9780132595216

ISBN 10:   0132595214
Pages:   304
Publication Date:   21 November 2011
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Out of Print
Availability:   Awaiting stock  

Table of Contents

Introduction: Reaching the Keynesian Endpoint     1 Chapter 1          Beware the Keynesian Mirage     9 Chapter 2          The 30-Year American Consumption Binge     39 Chapter 3          How Politicians Carry Out Fiscal Illusions, Deceive the Public, and Balloon Our Debts     81 Chapter 4          The Biggest Ponzi Scheme in History: The Myth of Quantitative Easing     113 Chapter 5          How the Keynesian Endpoint Is Changing the Global Political Landscape     141 Chapter 6          Age Warfare: Gerontocracy     153 Chapter 7          The Hypnotic Power of Debt     187 Chapter 8          When is being in Debt a Good Thing?     217 Chapter 9          The Investment Implications of the Keynesian Endpoint     229 Chapter 10        Conclusion: The Transformation of a Century     271 Endnotes     275 Index     291

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Author Information

Tony Crescenzi is Executive Vice President, Market Strategist, and Portfolio Manager for PIMCO, a leading global investment management firm. He was previously Chief Bond Market Strategist at Miller Tabak, where he worked for 23 years.   Crescenzi appears regularly on CNBC and Bloomberg, has guest-hosted Squawk Box, and has taught at Baruch College’s executive MBA program for 10 years. He has 28 years of investment experience and holds an MBA from St. John’s University and an undergraduate degree from the City University of New York.   His books include Investing from the Top Down, the recent Fourth Edition of Marcia Stigum’s 1,200-page classic The Money Market, and The Strategic Bond Investor, Second Edition.  

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