● Beyond the Keynesian Endpoint: Crushed by Credit and Deceived by Debt — How to Revive the Global Economy
By Tony Crescenzi
Summary via publisher, FT Press
Since the 1930s, governments have overcome recessions by borrowing and spending to temporarily replace lost consumer and business spending. What happens when they can’t do it anymore? In Beyond the Keynesian Endpoint, PIMCO Executive VP Tony Crescenzi offers a sobering tour of today’s unprecedented global sovereign debt crisis. Crescenzi shows how exhausted national balance sheets have stripped policymakers of their ability to bolster growth… how investors are finding it increasingly difficult to navigate debt-ridden markets… how increased spending intended to cure the financial crisis is instead worsening it. He dissects each scenario for the future, and reveals the crisis’ profound long-term implications for governments, investors, and the global economy.
