When this crisis happened at first, a lot of people believe it is the fault of investment banks. It’s so absurd. Nowadays there is a lot of ‘truth’. U may admire Prof. Lang, or some other economic analysts, but I only RECOMMENED u to read this book-《Trade Vic》. It published in Aug. 1993, and it is widely recognized as a Bible for speculators. However, it is a pity that a lot of people did not notice the most valuable opinion in this book-- Mr. Sperandeo predicted the dangerous of high finance leverage (not the financial data in financial annual report, but the policy while USA government keeps high debt) of USA, and pointed out it leads too high finance leverage among all the companies cause the inflation is highly underestimated while the consume is highly overestimate. The false prediction leads to excessive products and fake flourish of capital market.
It is the only the truth u need to know, the words 15 years earlier before this crisis – Trader Vic (中文名：专业投机原理)
