Logotipo librería Marcial Pons
The world is curved

The world is curved
hidden dangers to the global economy

  • ISBN: 9780462099354
  • Editorial: Cavendish Publishing Ltd.
  • Lugar de la edición: London. Reino Unido
  • Encuadernación: Cartoné
  • Medidas: 24 cm
  • Nº Pág.: 305
  • Idiomas: Inglés

Papel: Cartoné
30,48 €
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Resumen

If you're looking for an indepth read on how the mortgage crisis led to this brutal bear market, get hold of a copy of David Smick's The World is Curved: Hidden Dangers to the Global Economy. It's subtitled "The mortgage crisis was only the beginning." It was published in September and should not be confused with the similarly titled The World is Flat, by Tom Friedman. The latter is a seminal work on globalization and Smick acknowledges the debt. He views the world as "curved" because it's so hard to see over the horizon. As so many confused investors and corporate leaders are well aware, "we can't see ahead. We are always being surprised, and that is why the world has become such a dangerous place." Smick says world capital markets have become "a veritable house of cards." There aren't a lot of investment recommendations per se but Smick certainly puts the dire macroeconomic situation into a perspective that could be useful input for political leaders and corporate leaders charging with making some critical decisions in coming weeks and months. Throughout he dubs this era the Great Credit Crisis of 2007-2008. He provides a feel for how quickly vast pools of capital move in this globalized high-tech world of ours, whether from hedge funds or yield- starved housewives in Japan. And if you wonder at your own incapacity to understand it all, you'll be reassured that you're not alone. In the chapter "A Dangerous Ocean of Money" Smeck admits how he discovered "how confusing financial globalization was making the world, even for the most financially astute." Pointing to securitization and how mortgages and other toxic substances were packaged up -- by now a familiar theme -- Smick says "the reality is that the industrialized world has surrendered control of its financial system to a tiny group of five thousand or so technical market specialists spread throughout investment banks, hedge funds, and other financial institutions." And the corollary is that the bankers who en

Resumen

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