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The Credit Crunch: Housing Bubbles, Globalisation and the Worldwide Economic Crisis: Book by Graham Turner

The Credit Crunch: Housing Bubbles, Globalisation and the Worldwide Economic Crisis

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ISBN: 9780745328102    Publisher: Pluto Press Year of publishing: 2008     Format:  Paperback No of Pages: 256        
This book argues that the current financial turmoil signals a crisis in globalisation that will directly challenge the free market economic model. Graham Turner shows that the housing bubbles in the West...Read more
This book argues that the current financial turmoil signals a crisis in globalisation that will directly challenge the free market economic model. Graham Turner shows that the housing bubbles in the West were deliberately created to mask the damage inflicted by companies shifting production abroad in an attempt to boost profits. As these bubbles burst, economic growth in many developed countries will inevitably tumble. The Japanese crisis of the 1990s shows that banks and governments may struggle to contain the fallout. The problem has not been limited to the US, UK and Europe: housing bubbles have become endemic across wide swathes of emerging market economies. As the West slides, these countries will see an implosion of their credit bubbles too, shaking their faith in the free market. Turner is an experienced and successful economic forecaster, whose opinions are sought by large international banks and top financial journalists. Drawing from his first hand experience of the Japanese property crash of the 1990s, he presents his analysis in a clear and persuasive style, showing that the end of housing market growth spells disaster for neoliberal globalisation.
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About the author: Graham Turner
Graham Turner is the author of the Credit Crunch (Pluto Press, 2008) and founder of GFC Economics, an independent economic consultancy which provides forecasting... Read more
Graham Turner is the author of the Credit Crunch (Pluto Press, 2008) and founder of GFC Economics, an independent economic consultancy which provides forecasting services for some of the world's largest banks. He has worked in the financial sector for over 20 years, spending the 1990s working for Japanese banks.
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Review:
Graham Turner is one of only a handful of economists to understand the roots of the current financial crisis, its implications for all of us and - crucially - what should be done now. I strongly...Read more
Graham Turner is one of only a handful of economists to understand the roots of the current financial crisis, its implications for all of us and - crucially - what should be done now. I strongly recommend you read this book. -- Larry Elliott, Guardian A timely analysis of the pressures on world money markets and the fundamental weaknesses in the global financial system. Graham Turner is a clear and independent voice in a confused and noisy world. -- Hamish McRae, Independent Graham Turner is a sharp observer of developments in the financial markets and was way ahead of the pack in warning about the risks of the American credit boom. Here, he delves deep into the origins of the credit crunch, laying the blame not just with Wall Street, but with the inevitable consequences of unfettered globalisation. -- Heather Stewart, Observer
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