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Capitalism without capital

Chorafas, Dimitris N.

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Capitalism without capital

Record Type:	Electronic resources : Monograph/item
Title/Author:	Capitalism without capital/ Dimitris N. Chorafas.
Author:	Chorafas, Dimitris N.
Published:	Basingstoke :Palgrave Macmillan, : 2009.,
Description:	xvii, 264 p. :ill. ;23 cm.
[NT 15003449]:	The destruction of the American dream -- Macroeconomic challenges --Money supply and inflation -- The cost of money -- Leverage can be highly counterproductive -- Asset allocation, credit regulation, and banking supervision -- Case studies -- Household debt and the housing market's debacle --Mea culpa and the abuse of the virtual economy's freedoms-- The G-20 conference, central banks, andgarbage collection -- Trillions of dollars, euros, and pounds thrown at the problem.
Subject:	Global Financial Crisis, 2008-2009. -
Online resource:	http://link.springer.com/10.1057/9780230251021access to fulltext (Palgrave)
ISBN:	0230251021

Capitalism without capital
Chorafas, Dimitris N.

Capitalism without capital[electronic resource] /Dimitris N. Chorafas. - Basingstoke :Palgrave Macmillan,2009. - xvii, 264 p. :ill. ;23 cm. - Palgrave Macmillan studies in banking and financial institutions. - Palgrave Macmillan studies in banking and financial institutions..

Includes bibliographical references and index.

The destruction of the American dream -- Macroeconomic challenges --Money supply and inflation -- The cost of money -- Leverage can be highly counterproductive -- Asset allocation, credit regulation, and banking supervision -- Case studies -- Household debt and the housing market's debacle --Mea culpa and the abuse of the virtual economy's freedoms-- The G-20 conference, central banks, andgarbage collection -- Trillions of dollars, euros, and pounds thrown at the problem.

Capitalism Without Capital explores the events which took place in the financial markets fromSeptember 2008 to March 2009, including the dramatic 'historical week' at Wall Street of September 11, 2008. This book follows on the heels of another book by Dimitris N. Chorafas, Financial Boom andGloom, which addresses the abysmal descent of the banking industry from July 2007 to August 2008. Had this book been written at the tail-end of 2008, its central theme would have been that credit is what the crisis is all about. In the year 2009 the keyword is trust. While confidence is at a very low point, capitalism is left without capital and this is impacting upon the real economy like a sledgehammer. It transpires that many complex financial instruments are actually backed by assets that are nearly or fully worthless. These include: b5 s housing loans that may never be paid back b5 s corporate loans, with risingdefault rates b5 s a great amount of poorly understood and incorrectly valued structured products Capitalism Without Capital explains why the economic crisis and credit crunch, which continues unabated in 2009, has seen the destruction of the American dream as well as of the dreamsof the citizens of Britain and other Western nations. The book begins by introducing the reader to the background concepts of macroeconomic crises: the notions of money supply, interest rates and inflation; damage created by high leverage; need for well-balanced and careful credit allocation; potential after-effects of ever-rising household debt; and the abuses of the market economy's freedoms. It also explains what can be expected from dozens of 'summits' as well as the central banks'recent policy of throwing public money at the problem.

Electronic reproduction.
Basingstoke, England :
Palgrave Macmillan,
2010.

Mode of access:World Wide Web.

ISBN: 0230251021

Standard No.: 10.1057/9780230251021doiSubjects--Topical Terms:

1017135
Global Financial Crisis, 2008-2009.
Index Terms--Genre/Form:

542853
Electronic books.

LC Class. No.: HB3722 / .C46 2009

Dewey Class. No.: 330.9051

Capitalism without capital
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049 $a APTA
050 1 4 $a HB3722 $b .C46 2009
082 0 4 $a 330.9051 $2 22
100 1 $a Chorafas, Dimitris N. $3 517801
245 1 0 $a Capitalism without capital $h [electronic resource] / $c Dimitris N. Chorafas.
260 $a Basingstoke : $c 2009. $b Palgrave Macmillan,
300 $a xvii, 264 p. : $b ill. ; $c 23 cm.
490 1 $a Palgrave Macmillan studies in banking and financial institutions
504 $a Includes bibliographical references and index.
505 0 $a The destruction of the American dream -- Macroeconomic challenges --Money supply and inflation -- The cost of money -- Leverage can be highly counterproductive -- Asset allocation, credit regulation, and banking supervision -- Case studies -- Household debt and the housing market's debacle --Mea culpa and the abuse of the virtual economy's freedoms-- The G-20 conference, central banks, andgarbage collection -- Trillions of dollars, euros, and pounds thrown at the problem.
520 $a Capitalism Without Capital explores the events which took place in the financial markets fromSeptember 2008 to March 2009, including the dramatic 'historical week' at Wall Street of September 11, 2008. This book follows on the heels of another book by Dimitris N. Chorafas, Financial Boom andGloom, which addresses the abysmal descent of the banking industry from July 2007 to August 2008. Had this book been written at the tail-end of 2008, its central theme would have been that credit is what the crisis is all about. In the year 2009 the keyword is trust. While confidence is at a very low point, capitalism is left without capital and this is impacting upon the real economy like a sledgehammer. It transpires that many complex financial instruments are actually backed by assets that are nearly or fully worthless. These include: b5 s housing loans that may never be paid back b5 s corporate loans, with risingdefault rates b5 s a great amount of poorly understood and incorrectly valued structured products Capitalism Without Capital explains why the economic crisis and credit crunch, which continues unabated in 2009, has seen the destruction of the American dream as well as of the dreamsof the citizens of Britain and other Western nations. The book begins by introducing the reader to the background concepts of macroeconomic crises: the notions of money supply, interest rates and inflation; damage created by high leverage; need for well-balanced and careful credit allocation; potential after-effects of ever-rising household debt; and the abuses of the market economy's freedoms. It also explains what can be expected from dozens of 'summits' as well as the central banks'recent policy of throwing public money at the problem.
533 $a Electronic reproduction. $b Basingstoke, England : $c Palgrave Macmillan, $d 2010. $n Mode of access:World Wide Web. $n System requirements: Web browser. $n Title from title screen (viewed on Jan. 11, 2010). $n Access may be restricted to users at subscribing institutions.
650 0 $a Global Financial Crisis, 2008-2009. $3 1017135
655 7 $a Electronic books. $2 lcsh $3 542853
710 2 $a Palgrave Connect (Online service) $3 1081578
830 0 $a Palgrave Macmillan studies in banking and financial institutions. $3 1083529
856 4 0 $3 Palgrave Connect $u http://link.springer.com/10.1057/9780230251021 $z access to fulltext (Palgrave)