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OverviewFirst stock markets. Now home prices. Bubbles have moved to centre stage in the world economy over the last 20 years and may now be a greater threat to economic and financial stability than ordinary consumer price inflation. We now live in an asset-backed economy . Our spending decisions are dependent on asset values like house and share prices. In turn these are inextricably linked to burgeoning debt. But asset prices are now subject to fiercely volatile boom and bust cycles, which threaten serious recession. Since 1991 Japanese land prices have fallen 90 per cent. In a readable, non-technical guide the author explores the implications and the solutions for individuals, companies and central banks now that asset prices dominate the economic system. Underlying all of this is the question of where asset prices should be, for example what is the right price earnings ratio for stocks or house prices? This is a highly controversial area but the author argues, if there are not exact levels, there are ranges or averages for these assets in which individuals can invest accordingly. Full Product DetailsAuthor: John CalverleyPublisher: Nicholas Brealey Publishing Imprint: Nicholas Brealey Publishing ISBN: 9786611726195ISBN 10: 6611726195 Publication Date: 07 October 2004 Audience: General/trade , General Format: Electronic book text Publisher's Status: Active Availability: Out of stock The supplier is temporarily out of stock of this item. It will be ordered for you on backorder and shipped when it becomes available. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |