They examine the continuing impact of our huge debt on the continuing slow recovery from the recession. Lost Decades will long be regarded as the standard account of the crisis and its aftermath. Intelligent yet accessible to non-experts, [it] fills a valuable niche in a debate often dominated by ideological talking heads who thrive on popular anger and drain the political system of sensible dialogue.
Of course, I recommend this book. It can be used as a resource guide, as well as one that offers immediate tools for working with clients. The research-based wisdom will no doubt become standardized knowledge because of how applicable it is for clinical work. Few things are more fascinating than when therapy and scientific research come together, which is precisely why any work produced by John or Julie Gottman makes for an interesting read.
Filled with clinical insight, coherent theory, case illustrations, various data gathering forms, and a treatment plan, this book should increase the competence and confidence of any clinician who is wise enough to read it. It is a great contribution to the field and will guide numerous therapists onto the path of successful intervention. Cart Support Signed in as: This item is temporarily unavailable via the Norton website, but it can be ordered through your favorite bookseller or online retailer.
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- Transcript of "Lost Decades: The Making of America's Debt Crisis and the Long Recovery".
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- Lost decades: the making of America’s debt crisis and the long recovery!
Chinn and Jeffry A. It can be used as a resource guide, as well as one that offers immediate tools for working with clients. The research-based wisdom will no doubt become standardized knowledge because of how applicable it is for clinical work. Few things are more fascinating than when therapy and scientific research come together, which is precisely why any work produced by John or Julie Gottman makes for an interesting read.
Transcript
Filled with clinical insight, coherent theory, case illustrations, various data gathering forms, and a treatment plan, this book should increase the competence and confidence of any clinician who is wise enough to read it. It is a great contribution to the field and will guide numerous therapists onto the path of successful intervention. Chinn teaches at the University of Wisconsin, Madison, and coauthors the influential blog Econbrowser.
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There was a problem filtering reviews right now. Please try again later. Kindle Edition Verified Purchase. Menzie did an amazing job simplifying the debt crisis. I would totally recommend his book to people who would want to study the housing market crash with little to no knowledge.
Lost Decades: The Making of America's Debt Crisis and the Long Recovery
One person found this helpful. Possibly the most important book you can read on the economic crisis and what our future may look like. This is an academic written book but written in a form that is very readable for the layman. It is a retrace of our economic system focusing on the borrowing that has been done overseas to finance our economy.
It is not focused on our government borrowing but ALL borrowing. Frankly, it will make you sick to your stomach to see how we have wasted a decade financing our standard of living which was not sustainable financed as it was. But unfortunately, as the authors lay out our course for the future in comparison with past examples, what begins to be explained is the future decades to be lost.
The authors do plot a course out of this but it all comes to this question: I worry that our countrymen have grown soft and want an easy way out. I would be remiss to not mention politics and this book. Unfortunately so many books start with a bias whereas these guys clinically analyzed it.
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However, they clinically talk about the problems with massive tax cuts and are fairly negative on what this did for our country. I agree although admittedly have enjoyed the fruits of the tax cuts. The 90s started the era with a tax increase. The s with a tax reduction.
Transcript of "Lost Decades: The Making of America's Debt Crisis and the Long Recovery"
The 90s ended with a surplus. The s, not so much. Now, does that mean tax cuts are bad and tax increases are good? People try to make the solution to simplistic. But one thing this book makes very clear: And the sooner the better.
I thought this was a pretty clear, well articulated book by two academics [an economist and a political scientist] explaining broadly what caused America to go down a series of wrong turns. It reads quite well for a book written by academics and its easily possible to read it in one sitting if you have 8 or so hours lying around [like on a plane].
But there are a number of problems with the book, that if you have read other 'economic crisis porn', quickly jump at you. First, when discussing the 'shadow banking system' they lump in private equity funds like Blackstone with macro hedge funds like Bridgewater with investment banks. I think in a video symposium [very good by the way and found here [ Private equity funds may do a lot of fishy things but they generate their income by arbitraging US tax code's preferences of debt over equity and capital gains over income gains.
They do not loan out money. And macro hedge funds like Bridgewater may have been involved in some aspects of buying synthetic instruments but since they usually make big bets on broad economic movements its hard to imagine those types of hedge funds buying up a lot of SIV paper. The second and more glaring mistake was the total absence of 'repos' in the discussion. Bernake, and the book quotes him, has a historically terrible quote from when he says something like "Subprime is contained, its a tiny market, no big crisis is coming.
Rather, I would argue that like other academic economists [like the writers of this book too] Bernake simply didnt care about the repo markets and did not understand how a relatively small, 30 billion dollar market in sub prime mortgages could destroy financial institutions like Lehman, Aig and Bear Sterns.