Contаgion: Thе Finаnciаl Epidеmic Thаt is Swееping thе Globаl Economy... аnd How to Protеct Yoursеlf from It
Publisher: Wilеy
Number of Pages: 272
Published: 2008-12-31
List price: $24.95
Tough times are ahead and Talbott argues that the coming recession will be on a global scale, affecting economies across the world. We have had no real growth in GDP for the last ten years if purchases with government and personal debt are excluded. In effect, government borrowing and spending on the war and healthcare and Social Security and corporate give-aways combined with dramatic increases in personal spending funded by credit card and mortgage debt have funded unsustainable levels of personal and government consumption. The world’s banks are threatened with insolvency due to bad m...