Euro Crash How Asset Price Inflation Destroys the Wealth of Nations
Euro Crash is a unique analysis of the European Monetary Union, arguing that it was not sub-optimal currency areas or profligate government spending but instead fatal flaws in monetary design and an appalling series of policy mistakes by the European Cent
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Third Edition
Brendan Brown
10.1057/9781137371492 - Euro Crash, Brendan Brown
Copyright material from www.palgraveconnect.com - licensed to University of Toronto - PalgraveConnect - 2014-12-28
‘Fiat currency central banks claim to fight the inflation they cause, and likewise to offset the financial instability and systemic risk they create. The depreciation of the currencies they issue at will often cause falls in foreign exchange value, goods and services inflation, or asset price inflations. Of these, asset price inflations are the most insidious, for while they last they are highly popular, leading people to think they are growing rich and to run up their debt. When the asset inflations collapse, the central banks can come as the fire department to the fire they stoked. Nobody is better at diagnosing and dissecting these central bank games than Brendan Brown, whether it is the Federal Reserve (The Global Curse of the Federal Reserve) or the European Central Bank – this book, Euro Crash. It will give you a healthy boost in your scepticism about those who pretend to be the Platonic guardians of the financial system.’ —Alex J. Pollock, Resident Fellow, American Enterprise Institute,Washington, DC; former president and chief executive officer, Federal Home Loan Bank of Chicago.
Also by Brendan Brown BUBBLES IN CREDIT AND CURRENCY WHAT DRIVES GLOBAL CAPITAL FLOWS EURO ON TRIAL THE YO-YO YEN
MONETARY CHAOS IN EUROPE THE GLOBAL CURSE OF THE FEDERAL RESERVE
10.1057/9781137371492 - Euro Crash, Brendan Brown
Copyright material from www.palgraveconnect.com - licensed to University of Toronto - PalgraveConnect - 2014-12-28
THE FLIGHT OF INTERNATIONAL CAPITAL
Euro Crash Third Edition Brendan Brown
10.1057/9781137371492 - Euro Crash, Brendan Brown
Copyright material from www.palgraveconnect.com - licensed to University of Toronto - PalgraveConnect - 2014-12-28
How Asset Price Inflation Destroys the Wealth of Nations
© Brendan Brown 2010, 2012, 2014 Foreword © Joseph T. Salerno 2010, 2012, 2014
No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6–10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2010 Second edition published 2012 Third edition published 2014 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the globa
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