The Fearful Rise of Markets: Global Bubbles, Synchronized Meltdowns, and How to Prevent Them in the Future

Is the world economy already at risk of another, even more catastrophic financial collapse? How do so many investment bubbles form at once, across the world? Why are so many markets that "seemed" disconnected now able to collapse all at the same time? In The Fearful Rise of Markets, award-winning Financial Times journalist and editor John Authers takes on these critical questions, and offers real, deeply sobering answers. This remarkably clear and readable book helps you understand how the first truly global super-bubble was inflated - and now appears to be inflating again. Authers illuminates the multiple roots of repeated financial crises, including massive shifts in the global balance of economic power; the migration of key decisions from banks to capital markets funded with "other people's money"; the wholesale financialization of key asset classes; and massive failures of both academic theory and government policy. This book presents a truly global view, avoiding oversimplifications and ideology as it outlines how we got here and where we now stand. Even more valuable, it offers realistic solutions -- for both global decision-makers and individual investors who want to evade the fallout of the next financial collapse.