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Crisis Economics: A Crash Course In The Future Of Finance (2010)

by Nouriel Roubini(Favorite Author)

3.81 of 5 Votes: 3

ISBN

1594202508 (ISBN13: 9781594202506)

languge

English

genre

History & Biography

publisher

Penguin Press HC, The

review 1: "Crisis Economics" offers a comprehensive view of past economic crises, with an emphasis on the Great Recession of 2008. And course, Roubini offers his take on how to fix the various problems that plague our financial system. My main problem with the book is that Roubini does not offer any suggestions for the average investor. The average Joe is concerned with his mortgage, 401k, and saving for his kid' college tuition. The average Joe also has no say on the shenanigans on Wall Street and in congress. In other words, there's very little that the reader can actually 'takeaway' from this book. In Taleb's "Black Swan," he at least offers the 'barbell' strategy, in which investors put most of their money (about 95%) in ultra safe securities and take large risks with the remain... moreing 5%. It wasn't very specific but at least it was something. Although Roubini correctly predated the crash in 2008, he has been wrong several times since. The problem with the doom-and-gloom prognosticators is that they are bound to be right some of the time. If you had listened to him, you missed out on the stock rally in 2013 (he said his investment was all in cash in 2013). I suspect that many people, myself included, are still suffering from financial meltdown PTSD. Reading about the recent financial crisis is almost like a form of therapy. Ultimately, financial crises have happened many times in the past and will happen again the future. For those seeking practical answers I would suggest works by Dr. William J. Bernstein, Jason Zweig, and John C. Bogle.
review 2: I gave this book five stars because I found it to be the best one stop shop on the topic. I’ve read a lot of different books on the recent crash and each of them tends to focus on a specific influence such as the slicing and dicing of mortgages or currency devaluation.This book has it all from the history of previous crashes, the full story line of the recent crash, and a complete set of recommendations on what needs to be fixed to avoid a similar or worse crash happening in the future. Above all else, it’s written in such a way that anyone can understand it, you won’t find financial jargon getting in the way of the real story.The really scary part of reading books like this is the realization that to date almost nothing has been learned by those in positions to act as clearly little to nothing has been done. less

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