Friday, Mar 30, 2007
Think we're not in for the mother of all crashes? Buy this book now
Amazon.co.uk: Manias, Panics, and Crashes: A History of Financial Crises
Manias, Panics, and Crashes, Fifth Edition is a scholarly and entertaining account of the way that mismanagement of money and credit has led to financial explosions over the centuries. Covering such topics as the history and anatomy of crises, speculative manias, and the lender of last resort, this book has been hailed as "a true classic . . . both timely and timeless." In this new, updated Fifth Edition, Kindleberger and Aliber expand upon the ideas presented in the previous edition, and include two new chapters on the real estate price bubble that occurred in Norway, Sweden, and Finland at the end of the 1980s, and the three asset price bubbles that occurred between 1985 and 2000 in Japan and other Asian countries.
Posted by lvmreader @ 02:24 PM (173 views) Add Comment
6 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Freewheelin' Franklin said...
And this is news why?
2. lvmreader said...
Buy the book and educate yourself. If you are asking that question it is clear that your grasp of the history of economics could be improved.
3. Sam said...
I think freewheelin is suggesting that this is not really news. which it is not. and am sure that book is more economic data crunching and anecdote rather than historical proven fact.
I think I'm gonna stop posting/visiting this site. I seem to learn little from this site and some of you guys are just as obsessed as the people who think property prices will always go up.
4. japanese uncle said...
I bought the book five years ago, and read it partially. It's a very hard stuff, not an easy reading. Though I appreciate Kindleberger mentions the fraudulent element in each and every bubble, I think things are much more sinister, i.e. I have little doublt bubbles themselves are deliberately created from the begining, not involving fraud as partial element, but as a whole. As I have maintained time and again, if one is in control of media and central banks, and say, the military, one can create and prick bubbles at your will. If you can stage an incident in the middle east as the one developed recently, you can stage an oil price hike, thus inflation as a direct consequence, and governors of central banks are then justifiably allowed to raise rate, to prick the bubble. The real things could well be much more complicated though. The prototype of scenario cration/staging remains the same at all times. Thanks to the internet, these developments are much more visible to the public than say a decade ago. Look at the expression of King and Barnanke. Don't they look like ham actors? Playing the parts of hardworking gatekeeper of a nation's monetary system with a lot of sweat, sweat for what reason. That is the question.
5. royston said...
japanese uncle,
"Morpheus : The Matrix is a system, Neo. That system is our enemy. But
when you're inside, you look around. What do you see?
Business people, teachers, lawyers, carpenters. The very minds
of the people we are trying to save. But until we do, these
people are still a part of that system, and that makes them
our enemy. "
6. lvmreader said...
@Freewheelin' Franklin said... & @Sam,
I guess you are relatively new to this site, but not everything needs to be "News" in the Rupert Murdoch sense to be readworthy.
I guess your brain is so big, you knew all this before. So don't read it again. Others seem to have got some benefit from the posting.
And Sam, I am sure in your worldview, the Universe will end if we are not graced by your prescence. Trust me - it won't.
So you're not coming back here? Oh -look, the sky is still up there, the world hasn't ended.
I, for one, don't care.