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By John R. Talbott

How powerful used to be the yank economic system going into the current hindrance? How robust will it's a yr from now? How approximately 5 years from now? traders and voters all over the world become aware of, as by no means sooner than, that we have been misled--lied to--about the steadiness of our economic climate. yet what now?

John R. Talbott's creative new booklet, The 86 largest Lies on Wall highway, exposes the lies after which exposes us to the reality of what it's going to take to rebuild our economic climate. As a former funding banker at Goldman Sachs, Talbott is familiar with firsthand how the economic system operates and what it's going to take to mend it. because the "oracle" who anticipated the housing main issue in his 2003 e-book, the arriving Crash within the Housing industry, warned of a world banking concern in his 2006 booklet, promote Now, and known as the election for Obama while the senator from Illinois used to be nonetheless the underdog in Obamanomics, Talbott' s revelations approximately how the road and the financial system relatively paintings are as clear-eyed and indisputable as his...

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52. The Federal Reserve works for average Americans and is concerned with keeping the economy growing and vibrant. 53. Business cycles and recessions are necessary and normal to a well-functioning economy. 54. Big job growth in a country is an indication of a healthy, prosperous economy. 55. Tax cuts cause economic growth. 56. Greater country wealth, on average, brings greater happiness. 57. Social Security is a program that cares for our elderly poor. 58. GDP needs to keep growing for America’s economy to be healthy.

Annual cash flow (EBITDA) is a much more reliable measure of a company’s earning potential than net income. 33. Companies selling addictive products, such as liquor and tobacco, make for good investments. 34. High inflation causes interest rates to peak and, because rates are higher, common stock P/E ratios become depressed. 35. The stock market’s two-decade appreciation is primarily due to growth, innovation, the opening of new markets, and good management. 36. Low P/E stocks are considered bargains because they sell cheap relative to earnings, especially if they are big-dividend payers.

Order in liberal democratic societies is dependent not on a king or a dictator, but rather on a set of laws, rules and regulations. So, also, are economic systems. You could not have an economic marketplace, and you could never develop sophisticated capital markets, without significant rules and regulations. The protection of property rights, the honoring of contracts, protection against fraudulent behavior in business, consumer protections, and the elimination of monopoly rents are examples of regulations that are necessary to ensure the proper operation of a capitalist economy or a properly functioning market.

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