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The Everything Bubble: The Endgame For Central Bank Policy by [Graham Summers MBA]

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Graham Summers MBA

The Everything Bubble: The Endgame For Central Bank Policy Kindle Edition

by Graham Summers MBA (Author) Format: Kindle Edition

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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 bubbles: 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 policy: 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 sections: 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.

Length: 235 pages	Word Wise: Enabled	Enhanced Typesetting: Enabled
Page Flip: Enabled

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Product details

ASIN : B0794RLM8R
Publication date : January 18, 2018
Language : English
File size : 8735 KB
Text-to-Speech : Enabled
Enhanced typesetting : Enabled
X-Ray : Enabled
Word Wise : Enabled
Print length : 235 pages
Lending : Enabled

Best Sellers Rank: #163,064 in Kindle Store (See Top 100 in Kindle Store)
- #60 in Money & Monetary Policy (Kindle Store)
- #185 in Money & Monetary Policy (Books)

Customer Reviews:
115 ratings

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3 star		7%
2 star		3%
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Top reviews from the United States

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Tom A Duggleby

Valuable information - I want (need) more!

Reviewed in the United States on November 11, 2017

Verified Purchase

Excellent book. Easy to read and understand. Valuable in terms of looking to future pathways and options for fed and government. Two great sections- How we got here - and what to expect. I only wish there had been a thir section offering some insight or suggestions for how the individual investor might be able to minimize future impact. Maybe a follow up e-book. I rate the book itself at a 5 but knock it down one notch for lacking a third section - call it “What can you do about it” - or “Options for survival” or “How to survive”. I hope that Graham has a follow up in the works.

28 people found this helpful

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Robert Moriarty

It's a Bond Bubble yes but it's not an Everything Bubble

Reviewed in the United States on January 21, 2018

Verified Purchase

This is easily the very best book written about the actions of the Federal Reserve and the US Bond Bubble and yes, it's going to blow sky high and destroy the world's financial system when it blows.

But it is certainly not a book about The Everything Bubble. The author skips Japan and their QE to infinity. He pretty much ignores the EU and their QE to infinity. He missed the incredible subprime auto bubble as well as the student loan scam. There is nary a mention of the stock market bubble or the reemergence of the real estate bubble. So it's great on the bond bubble but that was just to start of The Everything Bubble.

As others have pointed out, the book doesn't end, it just stops. It's all well and good to be a prophet but people want to vote for a savior. OK, the Bond Bubble blows up. I want to know what I do then, not just the dingbats in the government who indeed will attempt to steal every cent from the public to maintain the lifestyle they would like to become accustomed to. If the Everything Bubble is the problem, what is the solution?

Part One is very well done indeed but there must be a Part Two.

34 people found this helpful

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Michael Wilson

I mean aren't they the smart guys? This book ties it all together - ...

Reviewed in the United States on January 12, 2018

Verified Purchase

Although I already knew the history of the Fed and had read many of the books referenced - although I have lived through the blowing of three bubbles, the implosion of two, and am now awaiting the implosion of the third - I never understood the ignorance of central bankers. I mean aren't they the smart guys?
This book ties it all together - why the fed did what they did and have then been forced to stay on the same path. I mean, after watching the mistakes of Japan and the BOJ, why repeat them?
I saw it happen and I did realize that the Fed was opting for Japan II over Great Depression II in 2009 - but why not a third option?
This book explains the trap central bankers are caught in. Unfortunately it also explains what is likely to happen when this, the third central bank bubble, also implodes.
Unfortunately it doesn't lay out a specific action plan as for what to do. That's why I only gave it 4 stars.

13 people found this helpful

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The Curmudgeon

THE NEXT BIG BUBBLE

Reviewed in the United States on July 31, 2018

Verified Purchase

Finally here is a book which explains the US financial system and thus the US economy in clear English. The main point is that the US is in a new major bubble due to the actions of the Federal Reserve.

Summers explains how the Fed was created in 1913 to maintain financial stability after the Panic of 1907. Nevertheless the Great Depression started in 1929 due to the crash of the stock market whose speculative bubble was financed by excessive debt fueled by low interest rates. The Federal Reserve was supposed to prevent crashes like this but obviously did not. This crash led to people withdrawing their money from banks in the form of gold. In 1933 FDR put a stop to this by confiscating all gold owned by Americans and replacing it with depreciated dollars.

The next speculative bubble financed by low interest rates started in the 1990s when the Greenspan Fed lowered interest rates to make debt fueled stock speculation cheap. The resulting bubble in tech stocks led the media to celebrate Greenspan as the Maestro before the bubble burst in 2000. Instead of letting the bad debts be cleared the Greenspan Fed kept interest rates low which then created the housing bubble. The government had mandated that mortgage loans be made to lower income subprime borrowers so the cheap money naturally gravitated there.

By the time this bubble began crashing in 2006 Greenspan was gone and Bernanke took his place. The Fed's response to the resulting Great Recession was to keep interest rates low to generate debt for the next bubble. Here the Fed not only lowered short rates (the Federal Funds rate) to almost zero but also started its Quantitative Easing program (surely a term designed to obscure) to lower long term rates by having the Fed print money to buy US Treasury Bonds.

This has created a mountain of debt in the US of almost $70 trillion counting government, business, and personal debt. When derivatives are added the total goes to $124 trillion. When unfunded government liabilities are added it goes even further. Summers maintains that there are no assets left to further inflate in the US as the treasury bond market is the basis of the whole financial system.

Summers predicts that the whole system will crash with all assets crashing when US bonds begin to crash. The Fed will respond with three basic programs. The first will be a negative interest rate policy (NIRP). This means that US bondholders will have to pay to lend money to the government while average people will have to pay to keep any money in banks. People will do so because these will be the only safe places to hold money. This already happened temporarily in Europe during the recent Euro (Greek) crisis.

Next the Fed will basically ban cash so people cannot escape the NIRP policy by converting assets to cash. Big bills will be banned outright while smaller bills will be tracked electronically and a carry tax (a tax assessed for holding cash) will be assessed against this money based on how long it is kept out of a bank.

Third the Fed will rescue insolvent banks through bail-ins. This happens when money is taken from depositors to cover losses suffered by banks during a bubble crash. This already happened in Cyprus in 2013 when the Euro crisis escalated there. All three methods are designed to force any people with any assets left to help bail out various financial institutions when the Everything Bubble based on US Bonds implodes. This will be necessary because the Greenspan-Bernanke remedies of low rates and Quantitative Easing plus government bailouts will not be enough. Read the book to get all the details.

9 people found this helpful

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Mahatma Head

Good Analysis, Light Advice

Reviewed in the United States on December 6, 2017

Verified Purchase

This book is an excellent analysis of our current situation. Where it falls short is in advice on what to do to protect yourself. This is due to the fact that the author's employers are selling their services through the book. I'm not being critical of them, but I would have liked more advice to go with the good analysis.

17 people found this helpful

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Dojo

Superb explanation of how the staggering world debt explosion happened

Reviewed in the United Kingdom on August 21, 2019

Verified Purchase

Superb, easy to read with regular recaps throughout the book.

Politicians, economists and financial industry ‘so called’ experts should read it several times but alas based on form to date ‘they who need to read it’ will not. Students of politics, finance, economics etc should have this book as compulsory reading.

Time to change the financial management of ‘the system’ wherever it might be. Also, Greenspan and Bernanke should hang their heads in embarrassment. Asleep at the wheel or complicit in some of the keys events leading up to 2008 and post 2008.

The political insight on the reasons behind who set up the federal reserve, and the actions by Roosevelt and Nixon were a real eye opener in how to let the genie out of the bottle. A big bad genie.

Amazon Customer

Shows “experts” can be clueless

Reviewed in the United Kingdom on May 22, 2020

Verified Purchase

I have been an economic writer for decades and bought this book hoping to gain a different perspective on the US financial system from someone with an impressive biography.

What I received was partisan, hyperbolic, misunderstood blabber (the author in chapter one states explicitly that what he is writing is not hyperbole, which is usually a sign of bull#*%^). The writer is more interested in making headlines than understanding the topic. Disappointing in the extreme.

Arguments are presented from a single point of view, seemingly misunderstanding key underlying concepts (I hope he has just left information out intentionally, given some of the jobs he has held; if not it is an example of some of the most irresponsible hiring ever). I would consider this book more as propaganda than information.

Anyone who bases their understanding of the monetary system on this book will be a danger to society. Please, if this is you go and read at least three other books on the subject so you can see what I mean. The fact that the author is considered a respected teacher is a joke.

I guess I should have expected less from a book written by a quasi politician.

One person found this helpful

... sound and the overall construction of the argument is excellent. We are heading into a cashless

Reviewed in the United Kingdom on July 10, 2018

Verified Purchase

It did repeat a bit but the arguments are sound and the overall construction of the argument is excellent. We are heading into a cashless, zero or negative interest rate world, and the writing in on the wall for even the most myopic.

2 people found this helpful

Bola

Great Summary of the economic mess we are in....

Reviewed in the United Kingdom on January 29, 2019

Verified Purchase

Worth a read for sure....then buy some gold OUTSIDE of the banking system. Another great read, anything by peter schiff..

One person found this helpful

Michael

Rettungsvorschläge fehlen

Reviewed in Germany on December 16, 2017

Verified Purchase

Die Gefahren werden deutlich dargestellt, teilweise aber aber für absolute Laien formuliert.
In dieser Branche ist es üblich, nach dem Schockfrosten der Leser die große Rettung, die gewöhnlich nur der Autor kennt, zu präsentieren.
Die aber fehlt komplett.
Und wenn man nach den E-Mail-Kommentaren geht, die mir der Autor regelmäßig zusendet, wundert man sich etwas: fast jede Woche werden Charts (die im Buch übrigens sehr simpel ausfallen und immer arithmetisch sind, was optisch für besondere Dramatik sorgt) gezeigt, aus denen er seit längerem unermüdlich den unmittelbaren Zusammenbruch der Finanzmärkte ableitet, läßt das - alles entscheidende - Timing sehr zu wünschen übrig. Also: lesenswert schon, aber keine Überlebensstrategie erwarten.

One person found this helpful

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