Archive for February, 2010

Description: “The job of a judge … can not help the economic crisis that we now live.” Amazon. Published review AMAZON COM Exclusive: Liaquat Ahamed to the economic climate in December 1930, the great economist Maynard Keynes, an article in which he was the world as living in “the shadow of one of the greatest economic catastrophes of modern history . The world at that time 18 months in what would be the Great Depression. Over the next 18 months between January 1930 and July 1932, the bottom fell out of the global economy. It was not surprising that the world economy collapsed . This time, authorities are obliged to apply the proper remedy: they have lowered interest rates to zero and keep them there They have saved the banking system from collapse, and they have the greatest recovery plan presented in the narrative. The first is the U.S. banking system. People are not taking money from banks, Indeed, they have the money is in. The problem is that because of past bad loans, the banking system has lost much of their capital. It is not possible for the economy, unless the banks are recapitalized can be restored. The burden will fall on taxpayers in Western Europe, especially Germany and France. In the United States at least, national cohesion and political machinery of New York and the Midwest have received pay for errors California and Florida, homeowners or to rescue a bank in North Carolina. It will take political leadership of the first order of the leaders of France and the Germany to convince their taxpayers of economical and prudent to bail out irresponsible banks, the Austrian and Hungarian owners. The risk is that this time, a lack of political will leads to economic disaster.