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The Everything Bubble: The Endgame For Central Bank Policy
The Everything Bubble chronicles the creation and evolution of the US financial system, starting with the founding of the US Federal Reserve in 1913 and leading up to the present era of serial the Tech Bubble of the ‘90s, the Housing Bubble of the early ‘00s and the current bubble in US sovereign bonds, which are also called Treasuries. Because these bonds serve as the foundation of our current financial system, when they are in a bubble, it means that all risk assets (truly EVERYTHING), are in a bubble, hence our title, The Everything Bubble. In this sense, the Everything Bubble represents the proverbial end game for central bank the final speculative frenzy induced by Federal Reserve overreach. The Everything Bubble book is the result of over a decade of research and analysis of the financial markets and economy by noted investment analyst, Graham Summers, MBA. As such, this book is intended for anyone who wants to understand how the US financial system truly operates as well as those interested in the Federal Reserve’s future policy responses when the Everything Bubble bursts. To that end, The Everything Bubble is divided into two How We Got Here and What’s to Come. Combined, these sections represent a blueprint for all things finance and money-related in the United States. This knowledge is now yours.
235 pages, Kindle Edition
Published January 18, 2018
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Displaying 1 - 20 of 20 reviews
January 29, 2020
"...the ENTIRE $60 trillion in debt securities floating around the US financial system is vulnerable to debt deflation when the Everything Bubble bursts."
Imagine the scenes from Apocalypse Now, or maybe The Grapes of Wrath. We're talking the financial end of everything we have grown accustomed to in this country. This book paints a very dire picture of what will happen when the current debt bubble bursts. This financial bubble, inflated by gads of digitally-created dollars pumped out of the Fed and into Everything financial, including corporate balance sheets, stocks, bonds, government balance sheets, and even consumer debt. Upon the smallest of Black Swan events, the stress can rapidly deflate debt, increasing interest rates, causing further defaults, loss of jobs, and the downward drama then feeds on itself.
When the bubble bursts, the author argues, the Fed will have no choice but to take drastic actions to try to re-inflate the bubble. Such measures will strive to prevent wealthy people from selling financial investments (exacerbating deflation). Effectively, it will be a war against holding cash. There will be NEGATIVE interest rates (you pay the bank for holding your cash for you, or you pay interest if you own a bond), as they now have in Europe and Japan. Further, a portion of all cash held in a depository institution (i.e, bank) will be confiscated by the government to shore up any potential bank losses from the bubble. There will be a tax on all wealth (ala Eliz Warren). And, don't think you can stuff cash in your mattress either. Paying for something with cash means there will be a "cash carry" tax withheld from the purchase. The author describes how all of these measures have already been discussed as contingency plans.
The book is a bit out there (not quite Area 51, but definitely an extreme perspective). But, I felt some good points were made and I'm actually a believer that we're headed toward a financial reckoning within the next few years. Worth reading, just don't invest too much in an underground bunker (yet).
Imagine the scenes from Apocalypse Now, or maybe The Grapes of Wrath. We're talking the financial end of everything we have grown accustomed to in this country. This book paints a very dire picture of what will happen when the current debt bubble bursts. This financial bubble, inflated by gads of digitally-created dollars pumped out of the Fed and into Everything financial, including corporate balance sheets, stocks, bonds, government balance sheets, and even consumer debt. Upon the smallest of Black Swan events, the stress can rapidly deflate debt, increasing interest rates, causing further defaults, loss of jobs, and the downward drama then feeds on itself.
When the bubble bursts, the author argues, the Fed will have no choice but to take drastic actions to try to re-inflate the bubble. Such measures will strive to prevent wealthy people from selling financial investments (exacerbating deflation). Effectively, it will be a war against holding cash. There will be NEGATIVE interest rates (you pay the bank for holding your cash for you, or you pay interest if you own a bond), as they now have in Europe and Japan. Further, a portion of all cash held in a depository institution (i.e, bank) will be confiscated by the government to shore up any potential bank losses from the bubble. There will be a tax on all wealth (ala Eliz Warren). And, don't think you can stuff cash in your mattress either. Paying for something with cash means there will be a "cash carry" tax withheld from the purchase. The author describes how all of these measures have already been discussed as contingency plans.
The book is a bit out there (not quite Area 51, but definitely an extreme perspective). But, I felt some good points were made and I'm actually a believer that we're headed toward a financial reckoning within the next few years. Worth reading, just don't invest too much in an underground bunker (yet).
July 11, 2023
I thought I would enjoy this one. I was expecting insight into the Fed and its role in the future devaluation of the USD. I have to say, I was more than a little disappointed.
At any point the author has an opportunity to provide thoughtful discourse, he instead opts to take the easy road out with smart-alleck comments. He takes potshots at everyone from Roosevelt to Greenspan, without providing historical context or giving consideration to the alternatives. More than anything, the book demonstrates a lack of knowledge and lack of maturity.
The decline of the USD will play out within our lifetimes, and there are many great books out there on the subject. This was not one of them.
At any point the author has an opportunity to provide thoughtful discourse, he instead opts to take the easy road out with smart-alleck comments. He takes potshots at everyone from Roosevelt to Greenspan, without providing historical context or giving consideration to the alternatives. More than anything, the book demonstrates a lack of knowledge and lack of maturity.
The decline of the USD will play out within our lifetimes, and there are many great books out there on the subject. This was not one of them.
September 22, 2018
A lot of facts are crammed into this book, as well as, a lot of conjecture. Well written with a plethora of charts it certainly brings an eye-opening look at economic possibilities regarding the massive federal debt. If you are looking for a tome that will explain where we are, this could very well be it.
October 20, 2020
An interesting perspective on the Federal Reserve's historical approach. I found the concept of cascading bubbles to more senior asset classes particularly interesting...and alarming. As with any prediction one should be cautious about accepting the details uncritically, but the book nevertheless lays out some possibilities with historical precedent.
February 28, 2019
The book explains the "last" economic bubble on earth: the debt. Put simply, there is too much debt and too little capital. All that we have today is just mirage in the desert. And the authority (i.e. government) will try to find the way to tax you, wealth tax, deposit tax, unclaimed asset tax, inheritance tax (estate duty), capital gain tax, sales tax, etc. You name it. Add in the fact that all these are collected from what remains after company's profit tax (i.e. it has to be profitable first before it can pay you) and individual income tax.
The narrative is well paced, supported with many charts and figures to substantiate the author's views. It explains the problems pretty good. Get prepared with the coming financial tsunami. Sadly, the author doesn't offer any solution in the book. Perhaps like what he said, there wouldn't be many choices. You just have to choose the lesser evil. Bear with it. For that, a review star is knocked off the book from a full five star one.
The narrative is well paced, supported with many charts and figures to substantiate the author's views. It explains the problems pretty good. Get prepared with the coming financial tsunami. Sadly, the author doesn't offer any solution in the book. Perhaps like what he said, there wouldn't be many choices. You just have to choose the lesser evil. Bear with it. For that, a review star is knocked off the book from a full five star one.
March 16, 2021
Mixed feelings about this book; the author freely admits that many of his proposals sound crazy, but using some historical and perhaps anecdotal evidence, some decent theories were outlined. I think the book did a great job of explaining the background of interest rates, bond yields, etc in a non-technical way, but there's a constant background alarm blaring. GOOD.GOD.ALMIGHTY. After 2008 and 2020, I really hope his predictions don't come true; I'm tired of living in unprecedented times.
February 12, 2018
Great book to get a grasp on the Fed and banking policy without boring the snot out of a non financial reader. On point and fast moving, this book gives direction of things to come.
Spoiler: book does not get 5 stars because it does not give solutions to the crisis that is to come....especially for the middle class.
Spoiler: book does not get 5 stars because it does not give solutions to the crisis that is to come....especially for the middle class.
This entire review has been hidden because of spoilers.
May 8, 2018
Every chapter ends with OMG
OMG is an understatement. Finally I understand the acronyms and terminology as a result of reading this book. More importantly, I have a sense of what is really going to happen, instead of just knowing something is really wrong but unable to articulate it and figure out what I need to do about it. No tin hat here, but these are scary times.
OMG is an understatement. Finally I understand the acronyms and terminology as a result of reading this book. More importantly, I have a sense of what is really going to happen, instead of just knowing something is really wrong but unable to articulate it and figure out what I need to do about it. No tin hat here, but these are scary times.
October 23, 2018
Great explanation of the impending financial crisis.
4/5 stars because it fully and wonderfully describes the problem, but offers no guidance or suggestions about what to do to prepare for what is to come, only what to expect.
4/5 stars because it fully and wonderfully describes the problem, but offers no guidance or suggestions about what to do to prepare for what is to come, only what to expect.
November 29, 2020
Financial Titanic is approaching
Provocative yet the factual history brings out the stark realism of the roadmap of our destiny. I don't wish to know
what's after "the everything bubble"
Provocative yet the factual history brings out the stark realism of the roadmap of our destiny. I don't wish to know
what's after "the everything bubble"
January 3, 2021
Scary great information
I liked the facts, the point of view and the valuable information. A great reminder of how our financial “system “ is just that- a systematic and progressive evolution of what currency resell is or not.
I liked the facts, the point of view and the valuable information. A great reminder of how our financial “system “ is just that- a systematic and progressive evolution of what currency resell is or not.
April 16, 2021
timely warning
This book does a great job of telling the reader how the government could possibly take all of their money in the event of a massive bank failure. However, it gives us no information on how to sidestep financial doom. For this reason, I give it four stars!
This book does a great job of telling the reader how the government could possibly take all of their money in the event of a massive bank failure. However, it gives us no information on how to sidestep financial doom. For this reason, I give it four stars!
September 22, 2023
For someone who doesn’t know much about the history of the dollar and the financial insanity that has happened in the past 20+ yrs, this is a 4-5 star book. It offers a concise overview and an easy read for the layman. Most of this was a refresher to me, but a welcome and timely one. Good! God! Almighty!
July 18, 2019
Very easy to read. Very good background of the circumstances and development of logic into plausible outcomes. Buckle up!
April 21, 2020
Solid book with a great thesis, we are definitely heading for a bubble of a huge magnitude. It's not a question of if the bubble will pop, it's when.
November 11, 2020
Reads with great humour and enthusiasm, I never though monetary policy could be so interesting.
April 10, 2021
I enjoyed the historical perspective. The book is written so that people with very little finance/economics background can understand it. I didn't enjoy the manic tone.
May 27, 2024
GOOD. GOD. ALMIGHTY.
February 1, 2020
Outstanding. Clearly articulated. Complex financial wizardry finally explained in clear terms.
What a mess this will be when it finally pops.. =\
What a mess this will be when it finally pops.. =\
February 9, 2021
Still reading. Already giving 5 stars.
Displaying 1 - 20 of 20 reviews