The Great Deformation (135 page)

Cuomo, Andrew,
411

Currency futures

      
beginnings,
290–293

      
D-mark example,
292–293

      
examples/description,
292–293
,
297–299

      
traditional futures vs.,
294–295
,
297–298

      
Wall Street changes with,
301–302

Daley, Richard M.,
305

Davis, John,
141

De Gaulle, President,
119

Debt ceiling,
645
,
669–670

Debt monetization

      
effects,
57
,
60
,
322

      
ending gold standard and,
56–57
,
60
,
109

      
Johnson/Nixon and,
233

      
World War II and,
196–197
,
202–203

Debt service to DPI,
644

Debt (US)

      
after 1980,
4–5
,
61–62
,
277
,
327
,
642–644

      
business sector (1996–2008),
501–502

      
century before 1980,
4

      
consumer credit,
277
,
326

      
debt ceiling,
645
,
669–670

      
foreign banks and,
61
,
111
,
274–275
,
351
,
414
,
447–448

      
GDP comparisons,
4–5
,
372–373

      
growth (2002–2007),
18
,
275–276

      
household consumption/debt,
371–373

      
Peak Debt/effects,
644–648
,
668–669

      
reduction recommendations,
710–711

      
World War II and,
199–200

      
See also
Fiscal cliff

Debt zombies,
516
,
529–536
,
562

Defense spending

      
Afghanistan/Iraq wars and,
678
,
690
,
692–693

      
Bolton/Romney proposals,
554

      
conventional forces/imperial invasions,
71
,
76
,
77
,
78–80
,
86
,
216
,
688–689
,
692–693

      
fiscal cliff and,
680
,
681
,
692–693

      
NSC-68,
215
,
216

      
recommendations,
710

      
societal costs with,
85–86

      
“twofer” belief,
85

      
See also specific individuals
;
specific wars

Defense spending (US/1980s)

      
conventional forces,
71
,
74–78

      
Eisenhower Minimum vs.,
84–86
,
216

      
lack of analysis/expertise,
71–73

      
myth on Soviet collapse and,
75
,
86

      
Soviet “nuclear capabilities” and,
70–71
,
72
,
74
,
75–76
,
83

      
wars of invasion and,
71
,
76
,
77
,
78–80
,
86

“Deficits don't matter,”
51
,
55
,
56
,
91
,
108
,
275
,
379
,
590
,
647
,
669

Dell Inc.,
354–355

Dell, Michael,
453

Delphi,
662–664
,
665

Deng Xiaoping,
60
,
64
,
66

Deposit insurance

      
abolishing,
707

      
New Deal origins,
175–176

      
See also
Glass-Steagall

Derivative contracts beginnings,
312

Deutsche Bank,
7
,
10
,
28–29

Dex Media,
510–513

DiCaprio, Leonardo,
603
,
604

Dillon, Douglas

      
background,
20
,
245
,
318

      
gold standard and,
245–246
,
247
,
248
,
249

Dimon, Jamie,
668

Ditech online mortgage operation,
40

“Dividend stoppers,”
11

Doerr, John,
598
,
603
,
606

Dole, Bob,
308
,
309

Dot-com bubble

      
collapse/aftermath,
66
,
340
,
342
,
345
,
355
,
361
,
362
,
363

      
M&A deals,
479–481

      
stock market/Greenspan and,
17
,
346
,
358–360

Douglas, Lewis,
141
,
143

Douglas, Paul,
239

Draghi, Mario,
570

DRGs (diagnostic review groups) system/reform,
527–529

Dudley, Bill,
246

Dudley, William,
556

ECB,
703
,
704

Eccles, Marriner,
189
,
190
,
206
,
207
,
497

Economic Stabilization Fund,
21

Economy (global)

      
monetary bubble,
702–705

      
nationalism (early 1900s),
142
,
145

      
post–World War I stabilization process,
146

Economy in Government Act (1933),
160–161

Economy (US)

      
agriculture (World War I/early 1900s),
151
,
179–180

      
autos/autos supply chain (1929–1932),
147

      
Fed favoring one percent,
653–656

      
fiscal gap statistics/future,
683–686

      
household leverage ratio changes,
642–644

      
manufacturing sector (2000–2012),
677–679

      
nationalism (early 1900s),
112
,
137
,
142
,
144
,
145
,
148
,
160
,
191–192

      
1914–1929,
137
,
138
,
145–147
,
179–180

      
ten-year budget baselines/forecasts and,
683
,
684–687
,
690
,
691–692

      
2002–2012,
66–67
,
682

      
See also specific components
;
specific events
;
specific individuals

Economy (US Main Street after financial crisis)

      
Bernanke reflation,
656–658

      
debt vs. productivity/earned income,
633

      
Fed/Wall Street vs. Main Street,
584–585
,
635
,
639
,
640
,
656–660

      
junk bond boom and,
658–660

      
lack of recovery,
631–632
,
640–641
,
668

      
99 percent vs.
1
percent,
649–653

      
overview (2009–2012),
631–632

      
PCE,
631
,
640
,
641

      
retail sales,
649–652

      
“wealth effects” and,
631
,
633
,
634
,
637
,
649
,
652–653

      
See also
Jobs market

Ehrlichman, John,
114–115
,
116

Eisenhower, Dwight D.

      
administration,
20

      
background,
213

      
comparisons with successors,
213–219
,
233–234

      
conventional force vs. nuclear deterrence,
215–216

      
defense spending and,
76
,
84–86
,
215
,
216

      
farewell address/warning,
85

      
federal budget and,
218–219
,
221
,
229–232

      
fiscal stimulus refusal and,
128
,
195
,
223
,
224

      
fiscal success factors,
219–220

      
Heller's “new economics”/mistakes,
226–229

      
interest rates,
299

      
Korean War armistice and,
214

      
recession (1953–1954) and,
223–225
,
226

      
recession (1957–1958),
229–230

      
taxes and,
87
,
220–222
,
674

      
Truman's war budget/taxes and,
214–215
,
216
,
220
,
221–222
,
231

Eisenhower Minimum,
84–86
,
218
,
689–690
,
692
,
710

Election reforms

      
campaigns and,
672
,
673
,
707–708

      
incumbency and,
673
,
707

      
overview,
672–674
,
707–708

Electric vehicles/batteries

      
fuel efficiency/carbon footprint and,
603–604
,
607

      
incumbent companies,
602

      
stimulus (after 2008 financial crisis),
602–607

Elliot Capital,
663–664

Energy sector

      
black/green energy lobbies,
694–695

      
energy independence and,
694–695

      
problems overview,
694–695

      
See also
Green energy
;
specific companies