Renew

In Aftershock authors David and Robert Wiedemer and Cindy Spitzer write about the next global meltdown. Despite the risk of sounding like "Chicken Little," here is their executive summary: What is a bubble?   An asset value that temporarily booms and eventually busts, based on changing investor psychology, rather than on underlying fundamental economic drivers that are sustainable over time. What is a bubble economy?   An economy that grows in a virtuous upward spiral of multiple rising bubbles (real estate, stocks, private debt, dollar, and government debt) that interact to drive each other up,a dn that will inevitably fall in a vicious downward spiral as each falling bubble puts downward pressure on the rest, eventually pulling the whole economy down. What is the bubblequake?   Phase I of the popping of the bubble economy, including he fall of the real estate bubble, private debt bubble, stock market bubble, and discretionary spending bubble. What i...