The Great Crash Of 2008

The Great Crash Of 2008

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As the world enjoyed the prosperity of an unparalleled boom, an economic earthquake was looming, and then struck abruptly. Bastions of finance collapsed, long-standing policy beliefs were abandoned, and governments charged into the rubble without time to watch their steps. But for those who were looking, the faultlines that ran beneath the boom had been apparent for years. In The Great Crash of 2008, Ross Garnaut and David Llewellyn-Smith take us through the imbalances that led to the global financial crisis, tracing the cracks that were appearing within the modern economy and presenting a whole-world view of reasons for the downturn. They assess the implications of the global financial crisis and offer hope for finding order in the wreckage, in restoring development and building a stronger and more sustainable world.meltdown sent a huge shock through the US housing market, shadow banking system and stock market. When March arrived, mortgage originator deaths had soared to 241 and the Home Price Index had entered free-fall, plummeting to 172 .

Title:The Great Crash Of 2008
Author:Ross Garnaut, David Llewellyn-Smith
Publisher:Melbourne Univ. Publishing - 2009-10-01


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