Controversial Topic Discussion Club Message Board › Next Month: Economic Crisis Causes and Solutions
Next Month: Economic Crisis Causes and Solutions
| Scott Driscoll | |
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Thanks to every that showed up, I definitely got some new perspectives on how some proposals would affect poorer populations... For those who came, it'd be great if you could post the books / artilces / reports / websites you read. That will make it easier to follow up interesting things...
At the end of the meetup, we decided to cover the economic crisis for the next meeting. Was it caused by too little regulation or too much? Is the stimulus helping or hurting, and is it being spent as it was intended? As it should be? What reform, if any, should be undertaken? Some of the first progress reports on the stimulus should be coming out, so it'll be interesting to look at the data. I'm going to schedule it for the 10th of November, which is 4 weeks out. Please list the names of any books or articles you're reading. Also post if the meetup date / time / place is bad and a couple alternatives. -Scott |
| Jay W. | |
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To understand the present, it is always good to understand the past because history repeats itself. A great book to understand the Great Depression of the 1930's is FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression by Jim Powell.
Admirers of FDR credit his New Deal with restoring the American economy after the disastrous contraction of 1929—33. Truth to tell–as Powell demonstrates without a shadow of a doubt–the New Deal hampered recovery from the contraction, prolonged and added to unemployment, and set the stage for ever more intrusive and costly government. Powell’s analysis is thoroughly documented, relying on an impressive variety of popular and academic literature both contemporary and historical. I will also find another book to read... on the present. Regulations are making us less wealthy! As a business broker / Mergers & Acquisitions professional, I see that because of regulations being put on the banking industry which will limit the amount of leverage business buyers will be able to use in the future, it is expected that valuations multiples of earnings will never reach the level of a few years ago. Long-term reduced leverage will mean long-term reduced valuations. Business Owners cannot be happy that their businesses are worth less. The fact is that many businesses were acquired for more than what the companies are worth at today’s lower valuations multiples. What does this mean to the economy? Are business owners likely to spend less because they feel less wealthy? Are business owners likely to not invest as much back into their companies to grow them because banks will not finance the growth? Edited by Jay W. on Oct 13, 2009 11:59 PM |
| Scott Driscoll | |
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I just ordered my two books on the topic:
A Failure of Capitalism: The Crisis of '08 and the Descent into Depression and Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis (Hoover Institution Press Publication Given all the financial reports about to come out, it'd be great if a few people could share the timelier information. It seems like there's a huge chasm between the libertarian and majority people's explanation for what caused the crisis... too much government intervention vs not enough. I'm eager to learn some of the key facts that influence those positions. Please continue to post links to your books / articles in this thread! |
| Hamzat Sani | |
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Reading or watched:
Capitalism: A love story Stanford University on Youtube - "The Road Back: From Economic Meltdown to renewal http://www.youtube.co...  The Great Unraveling- Paul Krugman Why We Can't Wait- Martin Luther King Jr. |
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