Credit Expansion, Crisis, and the Myth of the Saving Glut
Contents Introduction Credit Expansion, Standard Money, and Fiduciary Media The Stock Market and Real Estate Bubbles Evasion of Responsibility for the Bubbles The Saving Glut Argument The Non-Existence of a Saving Glut Current Account Deficits as a By-Product of the Increase in the Quantity of Money Net Saving as a By-Product of the Increase in the Quantity of Money Summary and Conclusion Summary and Conclusion Introduction Readers who are already familiar with the nature of