Page 6 - Accelerating out of the Great Recession
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CONTENTS
ACKNOWLEDGMENTS ix
INTRODUCTION
IN THE AFTERMATH OF THE GREAT RECESSION xi
PART ONE
WHAT HAPPENED AND WHAT HAPPENS NEXT 1
CHAPTER 1
THE DAMAGED ECONOMY 3
HOW IT HAPPENED 5
HOW GLOBAL MARKETS ABSORBED SO MUCH RISKY BORROWING 9
THE BANKING SECTOR WILL TAKE YEARS TO RECOVER 12
THE OVERSTRETCHED CONSUMER 20
REBALANCING OF GLOBAL TRADE FLOWS 25
DEPRESSION AVOIDED, RECOVERY LIMP 29
EXECUTIVES EXPECT A LONG PERIOD OF SLOW GROWTH 32
CHAPTER 2
THE NEW REALITIES 35
THE RETURN OF THE INTERVENTIONIST GOVERNMENT 36
THE EMERGENCE OF THE NEW CONSUMER 52
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