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The Paradox of Debt
  • Language: en
  • Pages: 311

The Paradox of Debt

  • Type: Book
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  • Published: 2023-07-06
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  • Publisher: Swift Press

When we talk about debt and its economic impact, we usually centre on "government debt," and overlook the debt owed by individuals and firms that is vital to truly understanding the economy. In this iconoclastic book, Richard Vague examines the assets, liabilities, and incomes of the American economy as a whole, not just of the government. The book shows that debt growth in excess of GDP growth is a feature of modern economic systems, not a bug—and thus ever-increasing leverage is built into the very structure of the economy. Vague uses the data presented in the book to show that rising debt is the primary source of economic growth, new money creation, and wealth creation—but that it also brings heightened inequality and can bring economic calamity when left unchecked. Vague also compares and contrasts the financial data of the U.S. to the world's other largest economies. As an expert on the role of private debt in the global economy, Vague offers an innovative set of policies to try to manage this debt paradox. Whether you are a policymaker or a private citizen looking to understand these dynamics, this book is an indispensable guide.

A Brief History of Doom
  • Language: en
  • Pages: 240

A Brief History of Doom

Financial crises happen time and again in post-industrial economies—and they are extraordinarily damaging. Building on insights gleaned from many years of work in the banking industry and drawing on a vast trove of data, Richard Vague argues that such crises follow a pattern that makes them both predictable and avoidable. A Brief History of Doom examines a series of major crises over the past 200 years in the United States, Great Britain, Germany, France, Japan, and China—including the Great Depression and the economic meltdown of 2008. Vague demonstrates that the over-accumulation of private debt does a better job than any other variable of explaining and predicting financial crises. In...

The Next Economic Disaster
  • Language: en
  • Pages: 101

The Next Economic Disaster

Current debates about economic crises typically focus on the role that public debt and debt-fueled public spending play in economic growth. This illuminating and provocative work shows that it is the rapid expansion of private rather than public debt that constrains growth and sparks economic calamities like the financial crisis of 2008. Relying on the findings of a team of economists, credit expert Richard Vague argues that the Great Depression of the 1930s, the economic collapse of the past decade, and many other sharp downturns around the world were all preceded by a spike in privately held debt. Vague presents an algorithm for predicting crises and argues that China may soon face disaster. Since American debt levels have not declined significantly since 2008, Vague believes that economic growth in the United States will suffer unless banks embrace a policy of debt restructuring. All informed citizens, but especially those interested in economic policy and history, will want to contend with Vague's distressing arguments and evidence.

A Brief History of Doom
  • Language: en
  • Pages: 240

A Brief History of Doom

Financial crises happen time and again in post-industrial economies—and they are extraordinarily damaging. Building on insights gleaned from many years of work in the banking industry and drawing on a vast trove of data, Richard Vague argues that such crises follow a pattern that makes them both predictable and avoidable. A Brief History of Doom examines a series of major crises over the past 200 years in the United States, Great Britain, Germany, France, Japan, and China—including the Great Depression and the economic meltdown of 2008. Vague demonstrates that the over-accumulation of private debt does a better job than any other variable of explaining and predicting financial crises. In...

An Illustrated Business History of the United States
  • Language: en
  • Pages: 304

An Illustrated Business History of the United States

  • Type: Book
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  • Published: 2021
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  • Publisher: Unknown

"An illustrated business history of the United States from colonial times to the present"--

The Case for a Debt Jubilee
  • Language: en
  • Pages: 75

The Case for a Debt Jubilee

We were drowning in in record levels of debt before the COVID-19 crisis, and we are now deluged in it. U.S. private-sector loans have tripled relative to income since 1950 – and government debt is also at an all-time high. Soaring debt burdens individuals, stifles growth, compounds inequality, and brings falling living standards for millions. Richard Vague’s new book argues that, contrary to mainstream assumptions, we cannot simply hope that the trend will correct itself. Mounting debt is a feature of our economic system, not a bug: debts perpetually grow and compound, polarizing and impoverishing economies if not overtly dealt with. He offers a detailed plan for how we can restructure a range of debts – such as student loans, auto loans, medical debt and more – and offer hard-pressed debtors a ‘jubilee’ now, not in some utopian future. Vague’s bold polemic contains a wealth of ideas that will free millions from modern-day debt peonage, reduce inequality and bring new vigor to the economy as it struggles to emerge from the pandemic.

Terrain Vague
  • Language: en
  • Pages: 124

Terrain Vague

  • Type: Book
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  • Published: 2000
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  • Publisher: Wave Books

In his debut volume, Richard Meier risks "an affront to the personal" by dismantling and reassembling the lyric "I." His poems demonstrate a dizzying grace while uncovering a terrain less vague than tremendously powerful. The emotional tenor of Meier's poems work with the strong intellect behind them to produce a captivating collection. Winner of the 2000 Verse Prize, selected by Tomaz Salamun.

Book of Lies
  • Language: en
  • Pages: 467

Book of Lies

New package for a cult classic. First published in 2003, The Book of Lies was hailed as a 21st grimoire and instantly became a cult classic. Now reformatted for the next generation of magicians and all counterculture devotees, it gathers an unprecedented cabal of occultists, esoteric scholars, and forward thinkers, all curated by Disinformation's former "wicked warlock" Richard Metzger. This compendium of the occult includes entries on topics as diverse and dangerous as Aleister Crowley, Secret Societies, Psychedelics, and Magick in theory and practice. The result is an alchemical formula that may well rip a hole in the fabric of your reality: Terence McKenna asks if we contact "aliens" with...

The Great Demographic Reversal
  • Language: en
  • Pages: 260

The Great Demographic Reversal

This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a...

The Rose Of Sebastopol
  • Language: en
  • Pages: 353

The Rose Of Sebastopol

  • Type: Book
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  • Published: 2008-09-18
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  • Publisher: Hachette UK

A spellbinding novel of love and courage set in the England, Italy and Florence Nightingale's Crimea. A Richard and Judy Book Club bestseller - includes a fascinating and moving brand new final chapter. Russia, 1854. As the Crimean War grinds on, Rosa Barr - young, headstrong and beautiful - travels to the battlefields, determined to join Florence Nightingale and save as many of the wounded as she can. For Mariella, Rosa's cousin, the war is contained within the pages of her scrapbook, her sewing circle, and the letters she receives from Henry, her fiancé, a celebrated surgeon who has also volunteered to work within the shadow of the guns. But when Henry falls ill, and Rosa's communications...