Surviving the Debt Storm (Ebook)

Getting capitalism back on track

Leigh Skene, Melissa Kidd

How the policies being followed by governments and central banks risk leading to an even greater economic mess - and how that can be avoided

Banking system collapses have annihilated credit markets and even the few borrowers with investment grade credit ratings cannot borrow. Conditions are worse than when the monetary system collapsed in 1931. Government revenue streams have shrunk to a trickle and services have shrivelled commensurately. Benefits are virtually non-existent, so protests, civil disobedience and riots continue to rise. Developed nation hope for emerging nation growth to provide export markets vanished with China plummeting into prolonged recession. Instead, China is trying to distract its increasingly restive population from their problems with an aggressive foreign policy over military control of the South China Sea ...

Can this actually happen? Indeed it can! In fact, this book is a searing indictment of the agenda now adopted by governments and central banks, which is likely to result in yet more bank failures, countries leaving the eurozone, dysfunctional capital markets and higher taxes and reduced government services and benefits.

Yet it is still not too late to choose a different path that will help put capitalism back on track. Skene and Kidd outline what that path should be to ensure a prosperous rather than austere future.

Publication date: 20/06/2013


ISBN: 9781847659521


Imprint: Profile Books

Subject: Current Affairs, Politics & Economics

Leigh Skene

Leigh Skene

Leigh Skene is a Canadian who has been involved in financial markets ever since he first purchased equities when he was a teenager. He became involved in debt analysis and trading at the Sun Life Assurance Company of Canada. He moved to the sell side and became Head of Fixed Income Trading at investment bank Burns, Fry and Company (now BMO Nesbitt Burns), then became Chief Economist. In 1980, he left Burns Fry and established himself as an independent economic consultant specializing in financial markets and wrote articles for several publications.
He has been a director of Lombard Street Associates since 2004, and wrote three key reports in 2007; The ABC of 21st Century Risk; The Sub-prime Mortgage Fiasco – The Start of Something Big; and Credit and Credibility which pointed out the dangers of the new financial system, warned of the impending credit crunch and forecast the ensuing financial turmoil. He has written five books on money and credit. His latest, The Impoverishment of Nations (2009) is a treatise on the long term outlook.

Melissa Kidd

Melissa Kidd

Melissa Kidd is a director and analyst at Lombard Street Research, specialising in global equity sectors.