The Credit Crunch
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Chapter 1
In 2008 two ordinary people were invited to Jordan – and decided to visit Israel/Palestine as well. Their trip had anything but ordinary consequences. Knowing very little about the history and politics of Israel and Palestine, Monica and Roger found themselves face to face with the realities of the legacy of Britain’s colonial rule. Why didn’t I know? Britain’s Legacy in Palestine is an eye opening, moving and personal story that encourages the reader to believe that they too can find a meaningful purpose which gives hope in a world so short of hope. To mark the publication of the book, we are holding a special online event on 17th December 2024. Denis Nowlan, Executive Director of Initiatives of Change UK, will be in conversation with Author Monica Spooner, founder of the Balfour Project, and Andrew Whitley, its Chair. This is an opportunity to hear how a bold individual initiative can have national and international implications.
Overview & Preview
23 Chapters
320 Pages
This book argues that the current financial turmoil signals a crisis in globalisation that will directly challenge the free market economic model. Graham Turner shows that the housing bubbles in the West were deliberately created to mask the damage inflicted by companies shifting production abroad in an attempt to boost profits.
As these bubbles burst, economic growth in many developed countries will inevitably tumble. The Japanese crisis of the 1990s shows that banks and governments may struggle to contain the fallout. The problem has not been limited to the US, UK and Europe: housing bubbles have become endemic across wide swathes of emerging market economies.
As the West slides, these countries will see an implosion of their credit bubbles too, shaking their faith in the free market. Turner is an experienced and successful economic forecaster, whose opinions are sought by large international banks and top financial journalists.
Drawing from his first hand experience of the Japanese property crash of the 1990s, he presents his analysis in a clear and persuasive style, showing that the end of housing market growth spells disaster for neoliberal globalisation.
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