This is the eBook version of the printed book.Since the 1930s, governments have overcome recessions by borrowing and spending to temporarily replace lost consumer and business spending. What happens when they can't do it anymore? In Beyond the Keynesian Endpoint, PIMCO Executive VP Tony Crescenzi offers a sobering tour of today's unprecedented global sovereign debt crisis. Crescenzi shows how exhausted national balance sheets have stripped policymakers of their ability to bolster growth… how investors are finding it increasingly difficult to navigate debt-ridden markets... how increased spending intended to cure the financial crisis is instead worsening it. He dissects each scenario for the future, and reveals the crisis' profound long-term implications for governments, investors, and the global economy.
Table of Contents
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
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