Wall Street Capitalism: The Theory of the Bondholding Class

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9789810238513: Wall Street Capitalism: The Theory of the Bondholding Class
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Breaking the chains of the bond market...This book goes behind the headlines of the Wall Street Journal to unmask the ';bondholding class';. Insulated from criticism by a self-serving ideology, the bondholders have redefined the indicators of economic well-being decidedly in Wall Street's favor. Created out of the fiscal folly of Reaganomics, fortified by Federal Reserve officials, and patronized by the Clinton Administration, the bondholding class invented the ';Goldilocks economy'; (never too hot, never too cold). As this powerful class has amassed the greatest wealth in history, ordinary Americans have been losing ground to the ensuing global financial turbulence. In a tour de force, Ray Canterbery shows how the evaporation of personal savings -- ';the Angels share'; -- is as necessary to Wall Street capitalism as it is damaging to growth and wages on Main Street.

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"...greatly stimulating and educational... It is lively, enlightening, and important." -- George Brockway

"This book presents a humorous and even irreverent look at the rich and powerful." -- Journal Economics Issues, Sept 2001

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9789810238506: Wall Street Capitalism: The Theory of the Bondholding Class

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ISBN 10:  9810238509 ISBN 13:  9789810238506
Publisher: World Scientific Pub Co Inc, 2000
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