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THE CREDIT CRUNCH

eBook (PDF), 28 Pages
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Price: $4.55
The credit crunch has three clearly defined elements; the circumstances responsible for its occurrence, the event that was the trigger and the policy direction for a solution. This paper identifies these and then runs the tape fast forward to see how it happened. The key lies in the overvaluation of property, namely the instruments securitizing mortgages. This led to the need to write off nearly half the inflated value acquired in the US sub-prime market, cash shortfalls and the collapse of banks. The trigger is the oil price bubble that extracted cash equal to 5% of global GDP. The result was to value property at above its Sustainable Value, which may not only be used as an analytical concept but in practice to take the place of the control mechanisms that have manifestly failed. There is no identifiable fault in the financial system at large. We need to recognize and fix an identified mechanism of financial control and bring about a timely restoration to healthy running.
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Product Details

Published
September 29, 2011
Language
English
Pages
28
File Format
PDF
File Size
163.95 KB

Formats for this Ebook

PDF
Required Software Any PDF Reader, Apple Preview
Supported Devices Windows PC/PocketPC, Mac OS, Linux OS, Apple iPhone/iPod Touch... (See More)
# of Devices Unlimited
Flowing Text / Pages Pages
Printable? Yes
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