The Londoner

By Sikander Hayat  This is a great introduction to how the economy really works.  This explains the basics in a way which you will not find in a usual text book. It covers all the following topics and more. 1. Credit  ( Can be instantly created out of thin air) 2. Economic Cycles  ( Borrowing Creates Cycles) 3. Productivity Growth 4. Debt Cycles ( Short and long term debt cycles) 5. Asset & Liabilities 6. Short Term Debt Cycles 7. Inflation 8. Interest Rates ( This rises due to high inflation) 9. Deflation ( Can lead to Recession) 10. Long Term Debt Cycles 11. Economic bubble 12. Debt Burden 13. Asset Values & Rising Incomes During A Boom 14. Unsustainable Debt Burden 15. Deleveraging ( Worst than Recession) 16. Austerity ( which leads to deflation and less tax collection) 17. Depression 18. Budget Deficits (Leading to taxation on wealthy) 19. Most of what people thought of money is actually credit 20. Government ( Print and Spend)