Summary:
The book analyzes the patterns of private debt accumulation that have led to major financial crises, arguing that excessive lending is a key predictor of economic disaster. It proposes policy solutions to monitor and mitigate the risks of private debt to prevent future economic collapses.
Key points:
1. Private Debt Surge Signals Crisis: Vague suggests that rapid private debt growth, outpacing GDP, often foretells financial crises, like the one in 2008.
Books similar to "The Next Economic Disaster":
Leveraged
Moritz Schularick
Financial Reckoning Day
William Bonner|Addison Wiggin
This Time Is Different
Carmen M. Reinhart|Kenneth S. Rogoff
The Ten Trillion Dollar Gamble
Russ Koesterich
Endgame
John Mauldin|Jonathan Tepper
House of Debt
Atif Mian|Amir Sufi
Between Debt and the Devil
Adair Turner
Contagion
John R. Talbott
The Return of Depression Economics and the Crisis of 2008
Paul Krugman
After the Music Stopped
Alan S. Blinder