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Index
The page references in this index correspond to the print edition from which this ebook was created, and clicking on them will take you to the the location in the ebook where the equivalent print page would begin. To find a specific word or phrase from the index, please use the search feature of your ebook reader.
Ackman, Bill, 130
Adams, John, 58
Adams, John Quincy, 59
algorithmic trading, 13, 148–49, 151–52
alpha trap, 123–54; and active fund managers, 129–35; alpha and beta described, 123–29; and “everything bubble,” 135–45; and “no-bid” market, 145–54
Altman, Sam, 181
Amazon, 85, 134, 286
The American Class Structure in an Age of Growing Inequality (Gilbert), 233
American Dream, 239
American Economic Association, 90
American Enterprise Institute, 177
American Recovery and Reinvestment Act, 73
Ames Research Center, 250
anchoring bias, 94, 97, 129, 132
Andreeson, Marc, 181, 249–50
Applied Physics Laboratory, 31
Argentina, 271, 273–75
Ariely, Dan, 113–14, 115, 119
artificial intelligence, 144–45, 153
Asian financial crisis, 214
Asian Tigers, 272
Assad, Bashar al-, 35
asset bubbles, 6, 11–14, 50, 139
austerity, 160, 161, 173
Austrian School, 138, 248
autocorrelation, 260, 261
automation, 148, 181
Bad Ragaz, Switzerland, 112–13
Baker, James, 146, 175–76, 197
bancor, 195, 206, 292
bank failures, 84, 139, 152, 228, 231, 237, 289–90
Bank for International Settlements (BIS), 138, 158–59, 211, 255
Bank of England, 192, 208
Bank of Japan, 6, 187
bankruptcies, 4, 65, 159, 231, 237, 280–83, 288
barbell portfolios, 188–89
barter economy, 173, 292, 295
Basic Income (Van Parijs and Vanderborght), 180
Bauer, D. H., 209
Bayesian probability, 153, 256
Bear Stearns, 231, 236, 237, 288
Beeghley, Leonard, 232–33
behavioral psychology and economics, 90–96, 110, 113–14, 116, 119, 129, 135, 153
benchmarks, 128, 135
Bentham, Jeremy, 93
Bernanke, Ben: and 2008 financial crisis, 236; and Fed Funds rates, 3–
4; and Fed Puts, 151, 152; and Fed response to crises, 270–71; and global monetary reset proposal, 200, 201, 205; and portfolio channel effect, 136–37; and prospects for new recession, 269; and quantitative easing, 4–5
Bernoulli process, 277, 290
beta, 127–28
Bezos, Jeff, 240, 286
Biddle, Nicholas, 61
Biden, Joe, 41–42
Bismarck, Otto von, 180
bitcoin, 148
black market economy, 293
Black-Scholes options, 124
black swan events, 141, 153, 277
Blankfein, Lloyd, 238
Bloomberg, Mike, 22
Bloomberg TV, 253
blue whales, 224–28, 230–31
bond vigilantes, 70–71
Booker, Cory, 187
boom and crash cycles, 271–72, 289–90
Bowles, Samuel, 119–20
Brando, Marlon, 156
Brazil, 207–8, 214, 271, 273
Bretton Woods conference, 52, 194–95, 195–97, 199, 203, 212–13, 221, 291. See also International Monetary Fund (IMF); World Bank
Brexit, 149–50
Brezhnev, Leonid, 15–16
BRICS economies, 273
Buchanan, James, 60
Buchanan, Pat, 45
budget deficits: and congressional control of budget, 79–80, 82; and context of current U.S. debt, 66–68, 70, 73–79; and employment rates, 178; and Fed rate policies, 9; and history of U.S. debt, 57, 60–64; and investing strategies for gold-backed currencies, 220; and investing strategies for mercantilist world, 52; and modern schools of economic thought, 171, 173; and prospects for new recession, 13, 282; and PSE/GBI proposals, 184, 186; and Reagan/Trump comparison, 56; recent U.S. trend, 182–83; and risk of high debt-to-GDP ratios, 156–57, 160–61, 163; and scale issues in capital markets, 229; and stock/bond price correlations, 143
budget surpluses, 57–61, 63, 71, 80
Buffett, Warren, 150, 288
bull markets, 136, 220, 283–87
Bush, George H. W., 45, 56, 66–68, 71, 79
Bush, George W.: and congressional control of budget, 79; and context of current U.S. debt, 66, 71, 74; and DP World scandal, 36; and history of U.S. debt, 58; and nationalism/globalism dichotomy, 45; and overview of U.S. debt-to-GDP ratio, 56
Caesar, Julius, 180
Cambridge Analytica, 115
Campbell, William D., 45
Canada, 191–92, 197, 285
Canada Real Residential Housing Price Index, 138
capital gains taxes, 240
capital markets, 106, 228, 229, 257
Carter, Jimmy, 9, 64, 69, 72, 79
Carville, James, 70
“The Case for a New International Monetary System” (Shelton), 191, 199
cash allocations, 85–86, 222
Catholic Church, 180
Caxton Associates, 130–31
central banks: and catalysts of economic crises, 290; and global monetary reset proposal, 202; and international monetary conferences, 192; and loss of confidence, 83, 84; and the Malaysia Plan, 215, 217; and modern schools of economic thought, 169, 170; policy since 2008, 2; and risk of high debt-to-GDP ratios, 161; and systemic risk, 257
Central Intelligence Agency (CIA), 23–32, 34–38, 43, 252–53
charitable giving, 96–97, 98–99, 240
chartalism, 164–65, 166–68, 171
Chase, Salmon P., 61
China: and acquisition of gold, 248, 282; and behavioral manipulation, 116; Chinese State Administration of Foreign Exchange (SAFE), 211; Chinese yuan, 209–13; and cryptocurrencies, 206–8; and currency devaluations, 151, 262, 265; and current bull market, 285; and emerging-market debt crises, 273–75; financial risks, 258–63; and global wealth gap, 245; and gold-peg operation, 209–13; and investing strategies for gold-backed currencies, 220–21; and investing strategies for mercantilist world, 52–53; mercantilist system of, 22; and North Korea nuclear negotiations, 286; theft of intellectual property, 266–67; trade negotiations with, 262, 264–68, 285–87; and U.S. globalism, 46, 49–50; and U.S. infrastructure vulnerability, 290; WTO membership, 2–3
choice architecture, 90, 95–112, 114–15, 121
Choices, Values, and Frames (Kahneman and Tversky), 92
Christmas Eve Massacre, 283
Churchill, Winston, 194
Citibank, 236–37, 238, 254–55, 271–72
Civil War (U.S.), 60–61, 119, 170, 289
Clapper, James, 40, 45
class structure and divisions, 232–46, 292–93
Claudius, 180
Clay, Henry, 50, 53
clearinghouses, 139, 231–32, 255–56
Clinton, Bill, 36, 41–45, 56, 66, 69–72, 74, 79–80, 82
Clinton, Hillary, 36, 41–43, 115
Clinton Cash (Schweizer), 43
cognitive biases, 94, 125, 130–31, 133, 150, 153, 278
Coinage Act, 193
Cold War, 10, 15–16, 25, 30, 45–46, 67, 70, 263
college admissions, 238, 241
Columbia University, 160
Commerce Department, 43
Committee on Foreign Investment in the United States (CFIUS), 32, 33–40, 267–68
commodities, 169, 208, 271
Commodities Corporation, 132
Communist Party, 261
comparative advantage, 48, 49
confidence, 9, 11, 21, 55, 83, 163, 171–72, 174
confirmation bias, 110, 129–30, 132
Congressional Budget Office (CBO), 77–78, 84
Conrad, Joseph, 156
Consumer Price Index (CPI), 3
contagion effects, 13, 148, 275, 288
Continental Congress, 58
Cooke, Jay, 61
Coolidge, Calvin, 61
Coppola, Francis Ford, 156
Cornyn, John, 51–52
credit ratings, 82, 241–42
cryptocurrencies, 208
currency hawks, 268
currency manipulation, 265–67. See also devaluation of currencies
currency pegs, 192, 196, 207, 210, 213–19, 262
currency speculation, 273
currency wars, 206, 218, 261
Currency Wars (Rickards), 18
Dam, Kenneth W., 192
Danta, Flavia, 185
Darman, Richard, 69
Davidson, Paul, 164
The Death of Money (Rickards), 18
debt: and 2008 financial crisis, 245; debt-and-growth trap, 189; debt-bombs, 83; debt/credit relationship, 280; debt defaults, 161; debt/growth relationship, 158; debt issuance, 137; debt monetization, 11, 70, 166–67, 170–71, 173–74, 269; debt-to-equity ratio, 10, 157–58; debt trends, 285; and modern schools of economic thought, 169; and onset of financial crises, 258; and reality of Chinese economy, 257, 261. See also debt-to-GDP ratio
“Debt and Growth Revisited” (Reinhart and Rogoff), 158
debt-to-GDP ratio: and congressional budgetary politics, 79, 82; historical perspective on, 55–58, 60, 63–64; and investment strategies, 84–85; and the Malaysia Plan, 218; and point of no return, 83; and prospects for new recession, 282; and PSE/GBI proposals, 184, 187; and recent budgetary trends, 65–71, 74–75, 77–78, 182, 245–46; risks of high debt-to-GDP ratios, 155–63; and scale issues in capital markets, 229; and Trump tax cuts, 10
Defense Intelligence Agency (DIA), 28, 34, 43
defense spending, 70, 75, 79–80, 282
Deficit Reduction Act, 70
deficits and deficit spending. See budget deficits; debt-to-GDP ratio; trade deficits
deflation, 3, 170, 174–75, 188–89
deleveraging, 130
DeLong, Brad, 161, 164
The Deluge (Tooze), 21
democracy, 117, 173
Democratic Party, 56, 64, 68–70, 72, 75, 79–80, 82
demographic trends, 65, 78, 262–63, 285
depressions, 14, 177, 248
derivatives, 6, 49–50, 139, 231–32, 236, 255–56
Deuts
che Bank, 239
devaluation of currencies: and Chinese monetary policy, 151, 262, 265; and emerging-market debt crises, 272; and Fed Puts, 151; and Fed rate policies, 8; and global monetary reset proposal, 206; gold as protection from, 17; and international monetary conferences, 194–97; and the Malaysia Plan, 215–18; and nationalism/globalism dichotomy, 49; and prospects for new recession, 282
digital currency, 168, 206–9
Dimon, Jamie, 238
discretionary monetary policy, 17–18
distributed ledger monetary system, 207–8
dollar-gold transactions, 218
domestic spending, 75. See also Keynesian economics
doomsday scenarios, 279–83
dot-com stocks, 2, 12, 50, 135, 187–88
double-entry accounting, 168, 170
Dow Jones Industrial Average, 124, 136, 145, 283–84, 287–88
Dubai Ports World controversy, 35–38, 288
Dukakis, Michael, 68
Dulles, Allen, 32
dynamic stochastic general equilibrium models (DSGE), 106
Eberstadt, Nicholas, 177–78
efficient market hypothesis (EMH), 122, 124–27, 129, 142
Eichamann, Adolf, 92
Eisenhower, Dwight, 15, 63
Eliot, T. S., 155–56
emergent properties, 153, 230, 260
emerging markets, 12–13, 204–5, 263, 271–75
Emirate of Dubai, 35, 37
employment rates, 8, 175–76, 176–78, 186–87, 288
equity credit bubbles, 139
espionage, 24–26
euro, 52, 149
European Central Bank (ECB), 52, 152, 159, 211
European sovereign debt crisis (2009–2015), 273
European Union (EU), 69, 161
Eurozone, 159, 221
“everything bubble,” 135–45
exchange rates, 49, 193
exchange-traded funds (ETFs), 140, 144, 150
exchange-traded markets, 154
exchange-traded notes (ETNs), 140, 144
FAANG stocks, 85, 134–35, 286
Facebook, 85, 134, 240, 286
fallacy of composition, 147, 150, 256
Fama, Eugene, 124
Fannie Mae, 231, 237, 288
Federal Bureau of Investigation (FBI), 43, 259
Federal Deposit Insurance Corporation (FDIC), 152, 237
Federal Open Market Committee (FOMC), 12–13, 174
Federal Reserve: and 2008 financial crisis, 236–37; and context of current U.S. debt, 79; Federal Reserve Board, 236; Fed Funds effective rate, 3–4, 6; Fed Puts, 151–52; and global monetary reset proposal, 201; and history of U.S. debt, 59, 64; and The Mandibles scenario, 292; and modern schools of economic thought, 165, 170–74; and private gold ownership, 17; and PSE/GBI proposals, 187; and quantitative easing, 7; reliance on Phillips Curve, 106; and runs on gold reserves, 247; and scale issues in capital markets, 232; and Trump tax cuts, 10
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