The Postcatastrophe Economy: Rebuilding America and Avoiding the Next Bubble
Books / Hardcover
Books › Business & Economics › Economic Conditions
ISBN: 1591842638 / Publisher: Portfolio, September 2010
An experienced financial analyst discusses the recession and how the current crisis will allow a saner economic future if bad policy is corrected, calling for a modern New Deal that embraces biotechnology and alternative energy.
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"Janszen's done it again! Recent books on investing rehash the drama of Wall Street's mega-meltdown, shadowy derivatives, subprime mortgage scams, and too-big-to-fail banks. But that's old news. The Great Recession is over. Investors need to know what's next and how to invest successfully for the future."---Paul B. Farrell, columnist and author of The Lazy Person's Guide to Investing"Eric Janszen has written a powerful and important book about how we can build an American economy in which `finance once again serves the productive economy instead of rules it.' He describes the job-creating industries of the next ten years and what we have to do to make them thrive."---Former U.S. senator Bill Bradley"There are many who offer a view of what is going to happen to the economy in the future, but few who do so with a strong foundation in financial history and even fewer who have a track record of being correct. Janszen's book is a must-read for any serious investor."---Weston M. Hicks, president and CEO, Alleghany Corporation"Janszen provides an unmatched and essential perspective on the financial system's complexities and offers long-term solutions for today's challenges. It's our job to prudently align large pools of capital with secular trends; we have come across no better road map than The Postcatastrophe Economy."---Paul and Wesley Karger, managing partners, TwinFocus Capital Partners"An outstanding read. Eric Janszen's prescription for a more fundamentally sound energy policy is especially perceptive. Janszen's book addresses not only what needs to be done, but the proper roles of government and private interests in securing the real transformative change our economy needs."The Great Recession was just the beginning, according to sought-after analyst Eric Janszen; if we remain on the current course, an even bigger catastrophe is imminent. Inclined to disbelieve him? He predicted the last two busts well before they happened.Our problems, according to Janszen, are rooted in the flaws of the debt-driven FIRE Economy (Finance, Insurance, and Real Estate), which dwarfs, and is coming close to extinguishing, America's "productive economy"---the making and selling of real things. The government's tried-and-true methods of currency depreciation, tax and interest rate cuts, and fiscal stimulus won't cut it this time around. The only way out is to change our fundamental approach.The solution? Use private and public monies to develop major for-profit infrastructure projects in transportation, energy, and communications. These projects will spark employment and growth, reduce America's dependence on foreign energy and our foreign debt, and improve the efficiency of the economy for decades to come.With a startling grasp of the complex factors at play, Janszen cuts through the rhetoric to get at the heart of our recent financial woes. This thought-provoking book shows how political failures have impeded our country's progress and offers solutions for a more sustainable and stable economic future.As Janszen writes, "Much of our wealth and prosperity over the past three decades resulted from technological advances, the skill and training of our hardworking men and women in a thousand professions, and the application of good old American know-how. But a significant portion resulted from direct and indirect government subsidy of the finance, insurance, and real estate industries that grew at the expense of many productive industries that were once the cornerstones of American economic might.... The United States must return to its roots as the world's leading creative inventor, saver, and investor."
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