The Equity Premium Puzzle, Intrinsic Growth & Monetary Policy An Unexpected Solution Theory & Strategy for the Coming Jobless Age
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| Title | : | The Equity Premium Puzzle, Intrinsic Growth & Monetary Policy An Unexpected Solution Theory & Strategy for the Coming Jobless Age |
| Author | : | |
| Rating | : | 4.52 (532 Votes) |
| Asin | : | 1304655369 |
| Format Type | : | Hardcover |
| Number of Pages | : | 232 Pages |
| Publish Date | : | 2016-05-05 |
| Genre | : |
This book shows we must adjust money supply to account for productivity if deflation is to be avoided. The central banker is not profit oriented and can create money at will, not subject to rational investor constraints. Businesses leverage low interest rates enforced by the central bank to grow and increase employment, compensating for the reduced labor necessary for the former level of goods and services. This leveraged difference in returns is the equity premium. Even a one time productivity increase requires a corresponding permanent increase not in the money supply itself, but in the "rate of increase" of the money supply. Given the steady growth in productivity of the last 100 years, the world economy is now grossly under-stimulated and in danger of precipitous deflation. Both academic models and arguments based on historical events are presented, along with analysis of the meaning of money, investor behavior, and practical techniques for obtaining the equity premium in one's por
Editorial : From the Back Covertruly fascinating - N. Mosley, UBS Sr. VPpage turner - B.G. Smith, NASA engineeramazing sense of humor - C. Wolfe, investor/artistWhy do STOCKS return 4 to 8% more than BONDS?·Do you believe in Efficient Markets? Rational Investors? Then such differences in return rates should not exist.·Do you believe bonds are much safer than stocks? Individually maybe, but over the long term bonds fluctuate with interest rates and are approximately as risky as index funds, and may default more often, justifying maybe a 1% risk premium at most. Why is the EQUITY PREMIUM important to you?Would you like to know if an investment strategy reliably returns more profit? What if all investments returned nearly the same? If home loans and government bonds had to yield high returns like Apple or Google, what then? For 28 years economists have tried to e
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