In America finance expert Talbott is known as 'the oracle' - he predicted the crash way back in 2003 - and he knows how to fix it.How strong was the American economy going into the present crisis? How strong will it be a year from now? Five years from now? Investors and citizens around the world are realizing they were all misled-lied to-about the stability of the US financial system. So what now?John R. Talbott exposes the lies and then exposes us all to the truth of what it will take to rebuild the US economy. The former investment banker at Goldman Sachs knows firsthand how the financial system operates. As the man who predicted the housing crisis in 2003, and warned of the coming global banking crisis in 2006, Talbott' s revelations are as clear-eyed and undeniable as his predictions and recommendations for the economic future are tough, sensible and exciting.Decision makers ignore them at their peril.Get this book for the debunking of such popularly circulated misconceptions as:Lie 2- This was simply a subprime mortgage problem that no one could have foreseen.Lie 7- Free market capitalism works best with no regulation and no interference from government.Lie 14 - Like the Great Depression, this is primarily a liquidity problem, and injecting cash into the system will solve it.Lie 23 - The stock market will bounce back soon to pre-crisis levels and so will the economy.And many more.This shocking new book is as relevant and important for us here as it is in the USA.
John Talbot previously worked as an investment banker at Goldman Sachs is the author of Obamanomics; Contagion, The Financial Epidemic that is Sweeping the Global Economy; Sell Now, the End of the Housing Bubble and Where America Went Wrong.