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By March 9, 2009, the Dow had fallen to 6,500, a percentage decline exceeding the pace of the market's fall during the Great Depression and a level which the index had last seen in 1997. On March 10, 2009, a countertrend bear market rally began, taking the Dow up to 8,500 by May 6, 2009. Financial stocks were up more than 150% during this rally.
The title of the book points at the sharp decline in stock prices following the bankruptcy of the investment bank Lehman Brothers in September, 2008. Meanwhile, its subtitle reveals Stiglitz's conviction that free markets are at the bottom of the crisis, as he makes deregulation responsible for the rise of the shadow banking system, over-leveraged banks and subprime mortgages.
Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and the Government Bailout Will Make Things Worse is a book on the global financial crisis of 2007–2008 by historian Thomas Woods, with a foreword by Ron Paul. The book was published on February 9, 2009 by Regnery Publishing.
The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009. [1] The scale and timing of the recession varied from country to country (see map).
By October 2009, the unemployment rate had risen to 10.1%. [20] A broader measure of unemployment (taking into account marginally attached workers, those employed part-time for economic reasons, and some (but not all) discouraged workers) was 16.3%. [21] In July 2009, fewer jobs were lost than expected, dipping the unemployment rate from 9.5% ...
Nassim Nicholas Taleb doesn't want everyone to think he's predicting a bout of hyper-inflation for the U.S. economy, contrary to a much-discussed Wall Street Journal article earlier this week.One ...
the-crash-of-2008-its-the-panic-of-1825-all-over-again In a desperate attempt to stem the panic, the central bank steps in as "the lender of last resort" and unleashes a flood of new money into ...
No part of this book may be transmitted or reproduced in any form by any means without permission in writing from the publisher. Developmental Editor: John Barstow Editorial Director: Shay Totten Project Manager: Emily Foote Copy Editor: Nancy Crompton Fact-checker: Mary Fratini Book Designer: Peter Holm Printed in Canada on recycled paper.