The Interest of Time

<p>The Interest of Time is a book about <em>your</em> Money.</p><p>As we approach the 10-year anniversary of the events that led to the <em>Global<br />Financial Crisis</em> the economies around the world have yet to regain pre-crisis<br />growth levels. After unprecedented levels of stimulus the US has embarked<br />on a process of normalization of interest rates. Will the central banks of<br />the world raise rates before the private sector has repaired their balance sheets?<br />Or will another recession put us on a collision course with 0% interest rates and<br />the Zero Lower Bound?</p><p>There are two ways to build wealth. <em>Make more</em> money. Or <em>spend less</em>. Traditional<br />economic theory relies on households and corporations who are always<br />trying to “maximize profits” (make more money). However once every 50-100<br />years a special type of debt-driven recession damages balance sheets so drastically it changes people’s thinking. They go into balance sheet repair mode. They <em>spend less</em> instead of trying to <em>make more</em>.</p><p><em>The Great Depression</em> was a <em>Balance Sheet Recession</em> that lasted over 12<br />years and caused a global depression that fueled the start of World War II.<br />Japan’s Lost Decade is a <em>Balance Sheet Recession</em> and has been raging for<br />almost 2 decades now.</p><p>And finally the <em>Global Financial Crisis</em> or <em>The Great Recession</em> is a <em>Balance<br />Sheet Recession.</em> And it is not over.</p><p>Everybody knows that there was a financial crisis that occurred in 2008. This<br />is the true story about how the 30 million families that found themselves in underwater balance sheets recovered from the greatest financial crisis since <em>The Great Depression</em>. Many more are still struggling under the weight of backbreaking debt and stagnant wages in the US and around the world.</p><p>This book is about the <em>Great Balance Sheet Recession</em> why it happened how<br />the governments households and corporations of the world can deal with it<br />and steps you can take to strengthen your family’s balance sheet for the future.</p>