Analyzing Financial Crises: Lessons and Warnings

This chapter provides an in-depth analysis of the financial crises of 1998 and 2008, focusing on the role of derivatives and the interconnectedness of global finance. It emphasizes the importance of learning from past events, particularly the risks associated with subprime mortgages and student loan debt, while discussing potential future crises. The conversation also critiques existing financial models and the potential impact of Modern Monetary Theory on government spending and the economy.

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