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03592aam a2200421 i 4500 001 0C6765FCC87711EDB34712E023ECA4DB 003 SILO 005 20230322010036 008 211016t20222022paud b 001 0 eng d 010 $a 2022943839 020 $a 1589881656 020 $a 9781589881655 035 $a (OCoLC)1276848542 040 $a YDX $b eng $e rda $c YDX $d BDX $d NYP $d GO3 $d IAD $d IBI $d OCLCF $d JCX $d VP@ $d BKL $d PAU $d SILO 050 4 $a HB3722 $b .P6556 2022 082 04 $a 330.973 $2 23 100 1 $a Pollock, Alex J., $e author. 245 10 $a Surprised again! : $b the COVID crisis and the new market bubble / $c Alex J. Pollock, Howard B. Adler. 246 30 $a COVID crisis and the new market bubble 250 $a First Paul Dry Books edition. 264 1 $a Philadelphia : $b Paul Dry Books, $c 2022. 300 $a 224 pages : $b charts ; $c 22 cm. 504 $a Includes bibliographical references and index. 520 $a "About every ten years, we are surprised by a financial crisis. In 2020, we were Surprised Again! by the financial panic of the spring triggered by the Covid-19 pandemic. Not one of the 30 official systemic risk studies developed in 2019 had even hinted at this financial crisis as a possibility, or at the frightening economic contraction which resulted from the political responses to control the virus. In response came the unprecedented government fiscal and monetary expansions and bailouts. Later 2020 brought a second big surprise: the appearance of an amazing boom in asset prices, including stocks, houses, and cryptocurrencies. Alex Pollock and Howard Adler lived through this historic instability while serving as senior officials of the U.S. Department of the Treasury. Their book lays out the many elements of the panic and its aftermath, from the massive elastic currency operations which rode to the rescue by financing the bust with unprecedented government debt, to the consequent asset price boom, which included a renewed bubble in house prices financed by government guarantees. It considers key leveraged sectors such as commercial real estate, student loans, pension funds, banks, and the government itself. It reflects on how to understand these events both in retrospect and prospect." $c Publisher marketing. 505 00 $a Machine generated contents note: $g 13. $t Reflections on the Surprises of the Covid Crisis. $g 2. $t The Panic of2020 -- $g 3. $t Elastic Currency to the Rescue -- $g 4. $t The Run on Prime Money Market Funds -- $g 5. $t A Second Surprise: The Amazing 2020-21 Market Boom -- $g 6. $t Cryptocurrencies: An Assault on Central Banks or Their New Triumph? -- $g 7. $t Banks: Not Their Turn This Time -- $g 8. $t The Mortgage Market: Built on a Government Financial Triangle -- $g 9. $t Municipal Debt in Covid Times -- $g 10. $t Pension Funds: Some Dubious Promises -- $g 11. $t Student Loans: A Failed Government Lending Program -- $g 12. $t Central Banking to the Max -- $g 13. $t Reflections on the Surprises of the Covid Crisis. 650 0 $a COVID-19 (Disease) $x Economic aspects. 650 0 $a COVID-19 Pandemic, 2020- $x Economic aspects. 650 0 $a COVID-19 (Disease) $x Economic aspects $z United States. 650 7 $a COVID-19 (Disease) $x Economic aspects. $2 fast $0 (OCoLC)fst02021810 650 7 $a Economics. $2 fast $0 (OCoLC)fst00902116 651 7 $a United States. $2 fast $0 (OCoLC)fst01204155 648 7 $a Since 2020 $2 fast 700 1 $a Adler, Howard B., $e author. 941 $a 2 952 $l OVUX522 $d 20231117031904.0 952 $l UNUX074 $d 20230322013401.0 956 $a http://locator.silo.lib.ia.us/search.cgi?index_0=id&term_0=0C6765FCC87711EDB34712E023ECA4DB 994 $a Z0 $b NIUInitiate Another SILO Locator Search