>> Free PDF THE DEBT-DEFLATION THEORY OF GREAT DEPRESSIONS (Illustrated), by Irving Fisher

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Irving Fisher was the greatest economist the United States has ever produced. He made important contributions to utility theory, general equilibrium, theory of capital, the quantity theory of money and interest rates. Fisher was also a pioneer of the development of index numbers for stock markets. Fisher equation, the Fisher hypothesis, the international Fisher effect, and the Fisher separation theorem were named after him.

Following David Ricardo and John Keynes, Fisher was also one of those rare people who were deeply involved in investing and researching stock markets.
One of Fisher’s key contributions is the theory of debt deflation. Fisher’s theory of debt deflation was widely used to explain the cause of the Great Depression and became more popular after the 2008 recession.

This book (THE DEBT-DEFLATION THEORY OF GREAT DEPRESSIONS) is Irving Fisher’s most important work. Irving Fisher used it to answer the fundamental cause in the nature of the Great Depression.

This is a must-read book for readers who are also interested in the deepest thoughts and views about the theory of debt deflation by Irving Fisher, one of the greatest economic thinkers on the planet.

• Sales Rank: #519268 in eBooks
• Published on: 2012-11-02
• Released on: 2012-11-02
• Format: Kindle eBook

About the Author
Irving Fisher (1867-1947) was one of America’s most celebrated economists. Although not widely remembered outside of economics, within it he has increasingly become considered a giant of the profession. (Dalls Federal Reserve)

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22 of 26 people found the following review helpful.
The Debt-Deflation Theory of Great Depressions
By MICHAEL SCHEMMANN Author
"I have been both a central banker and a market regulator. I now find myself questioning whether my early career, largely devoted to liberalising and deregulating banking and financial markets, was misguided. In short, I wonder whether I contributed - along with a countless others in regulation, banking, academia and politics - to a great misallocation of capital, distortion of markets and the impairment of the real economy. We permitted the banks to betray capital into 'hopelessly unproductive works', promoting their efforts with monetary laxity, regulatory forbearance and government tax incentives that marginalised investment in 'productive works'. We permitted markets to become so fragmented by off-exchange trading and derivatives that they no longer perform the economically critical functions of capital/resource allocation and price discovery efficiently or transparently. The results have been serial bubbles - debt-financed speculative frenzy in real estate, investments and commodities.

"Since August of 2007 we have been seeing a steady constriction of credit markets, starting with subprime mortgage-backed securities, spreading to commercial paper and then to interbank credit and then to bond markets and then to securities generally. While the problem is usually expressed as one of confidence, a more honest conclusion is that credit extended in the past has been employed unproductively and so will not be repaid according to the original terms. In other words, capital has been betrayed into unproductive works.

"The [Global Financial Crisis] credit crunch today is not destroying capital but recognising that capital was destroyed by misallocation in the years of irrational exuberance. If that is so, then we are entering a spiral of debt deflation that will play out slowly for years to come. To understand how that works, we turn to Professor IRVING FISHER of Yale..."

Quotation from 'London Banker'
Thursday, 31 July 2008

11 of 12 people found the following review helpful.
A Good Historical Book to COmpare Past Trends to Today
By Jim
Good use of Google can result in PDF copies of this book being found on the web for free. No need to buy unless you want a printed nice looking reference for future usage.

12 of 14 people found the following review helpful.
Bullet-point summary of debt deflation
By fitzalling
A very short (25 page not including graphs)article summarizing Professor Fisher's theories or "creed," as he puts it, on the causes of the Great Depression. The article (it's not really a book) expresses this creed in 49 articles. The article was first published in 1933. It remains relevant today (2011) since excess debt and the response to this debt deeply affect our own economy. He looks at the components of the economic cycle and concludes that debt and deflation are the only two components that truly matter. Once an economy has incurred "excess debt" and Professor Fisher does not provide metrics to quantify this, the effort of large numbers of debtors to liquidate their debt leads to decreasing values for the remaining assets. This decrease in value leads to deflation. Deflation makes it progressively more difficult to pay the remaining debts (each remaining unpaid dollar gets "bigger"). This, in Professor Fisher's view, was the principal cause of the economic ills then plaguing the United States. He found a general attribution of economic cycles as a cause unpersuasive.

The article is short and, to use the author's own word, "dogmatic." The brevity of the article was not fully satisfying. Also, the theory seems possibly to be another expression of the "paradox of thrift." Nonetheless, I could see why Professor Fisher's theory of debt-deflation as the principal cause of the Depression could influence the present head of the Federal Reserve, Ben Bernanke, to pursue a policy of monetary expansion to battle deflation as a primary economic evil.

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* Free Ebook Day by Day Devotions 2, by Karyn Henley

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Just like growing kids need water, calcium, and vegetables, a growing believer needs Gods Word.

Growth comes in small steps, but big things can happen before you know it. In just seven minutes a day, your child can grow to know and love God. It just takes a little time.

Best-selling author and educator Karyn Henley has provided another great devotional tool to help you invest your time well. Day by Day Devotions 2 contains a full years worth of just right teaching for your kids ages six to ten.

Here's what you'll find: Each week focuses on a single topic like “Who Wins?” or “Fighting Temptation” or “Getting Along with Others.”

Every days devotion includes a different selected passage from the Day by Day Kids Bible and follows with a kid-friendly reading and prayer.

And each weeks topic includes four or five activity ideas to help kids anchor the truths they've learned with hands-on fun things to make or do!

• Sales Rank: #233850 in eBooks
• Published on: 2012-11-01
• Released on: 2012-11-01
• Format: Kindle eBook

About the Author
Award-winning author Karyn Henley has written over 100 titles, which include a mix of children's books and articles, parent-teacher books, articles, and curricula, and preschool musicals and CD's/DVD's of original music for children. An accomplished songwriter, Karyn has been a Dove Award nominee, and received a regional Emmy Award as Music Composer for a Christmas television special. She has traveled worldwide speaking to parents and teachers and entertaining children and their families in storytelling/active movement sessions and concerts. Most of her work has been in the area of spiritual development. She is best known as the author of the original version of The Beginner's Bible, which during the fifteen years it was in print (1989-2004), sold over 5 million copies and was translated into 17 languages. A graduate of Abilene Christian University (BSEd), Karyn received a Master's of Fine Arts degree from Vermont College of Fine Arts in 2004. She lives in Nashville, Tennessee. Karyn's debut line of YA fantasy novels is entitled Angelaeon Circle. The first release in the series is Breath of Angel, published by WaterBrook Multnomah in 2011, followed by Eye of the Sword in 2012. The third title in the series, Throat of the Night, will be released March 2013.

Most helpful customer reviews

0 of 0 people found the following review helpful.
fits HP Touch pad great! (but the smell....ugg)
By Summer
A friend of mine has one and we tried my sons HP touch pad in it. Fits perfectly! So we had to buy one. It is so easy to handle. Love the arms - they make it so convenient to grab it. The color and size are great as well -prevents others from sitting on it when its left in blankets on the couch. Foam feels great in your hands...firm but smooth. A little firmer than squeezing a stress ball. Received lower stars for two reasons. 1. The molding seam is rough. I used craft knife to trim it. 2. The smell is horrible when you first take it out of the plastic. We sat it outside for a few days to off gas. It was so bad that we couldn't sit in the same room without getting a headache! That has been remedy now but was a really problem because our little guy was so excited to use it and could only admire it through the window! ;)

0 of 0 people found the following review helpful.
This author really understands children
By Rachel Dawn
We have been fans of Ms. Henley's writings, songs and videos for more than 7 years now. She simply does a fantastic job of communicating with children. She doesn't just simplify truth but truly seems to look at the world through the eyes of a child and see from their perspective. It gives her an ability to connect truths with little hearts in a unique way.
This book didn't disappoint. My 3, 5 and 8 year old daughters are equally enthralled with her lovely, simple writings and clear, concise points. I find the simplicity of the messages refreshing.
I decided to buy the first edition of this devotional after looking at this one because we enjoy her so much.
So far, she is still my absolute favorite children's Christian writer.

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!! PDF Ebook Life of Pi, by Yann Martel

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As a teenager in Pondicherry, India, Pi Patel's father is the proprietor of the Pondicherry Zoo, where Pi learns much of the workings and raising of animals. At age 16, Pi's father decides that Mrs. Gandhi's (the leader of India) political actions are unsavory and closes up the zoo to move to Toronto.The animals are loaded onto the same boat that the family will take to reach Winnipeg, Canada. On the journey to North America, the boat sinks. As the only survivor of the shipwreck, he's stuck in a lifeboat with a dying zebra and a hyena. Pi sees another survivor floating in the water and only after throwing them a life preserver and pulling them aboard does he realize that "Richard Parker" is actually the 400 pound tiger from his father's zoo. So, upon reentering the boat, he wedges the tarpaulin up with an oar and decides he might survive if he can stay on top and keep Richard Parker beneath it. Over the next week an Orangutan arrives as well and the four animals interplay carefully, eating each other until there is only Richard Parker left. Over the course of the next 7 months aboard the lifeboat, Pi hides on a makeshift raft behind the boat and begins the process of taming Richard Parker with a whistle and treats from the sea, as well as marking his portion of the boat. He begins to get close to the tiger, developing the kind of bond a zookeeper does with his menagerie. Life of Pi is a fantasy adventure novel by Yann Martel published in 2001. The protagonist, Piscine Molitor "Pi" Patel, a Tamil boy from Pondicherry, explores issues of spirituality and practicality from an early age. He survives 227 days after a shipwreck while stranded on a boat in the Pacific Ocean with a Bengal tiger named Richard Parker.

• Sales Rank: #1357522 in Books
• Published on: 2001
• Binding: Paperback
• 319 pages

Features

• FICTION Action & Adventure

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0 of 0 people found the following review helpful.
Beautifully written. Very descriptive.
By Elizabeth B
I bought this book for my daughter because she had to read it for her high school English class. Now, it is important to tell you that my daughter and I are very close and prior to this she absolutely hated reading. I have tried for years to help her find a book that would hold her attention, but have had no luck. She hadn't seen the movie "Life of Pi" and had no interest in the subject matter so she was especially dreading this particular book. I had seen the movie and knew it was a fascinating story so I told her to keep an open mind, but I feared that every night would be a battle to get her to read the assignments. You can imagine how pleasantly surprised I was when she fell in love with Life of Pi. She said she loved Yann Martel's descriptive writing and that it was the first book that she had read that really helped her visualize what was happening in the story. She was excited to tell me everyday what she had read & what was happening with Pi. Some days she was confused, some days sad, some days hopeful. A friend of hers let the "twist" at the end slip, but that only intrigued her more and seemed to make her read more carefully into it. Even though I've seen the movie and know the story, hearing her talk about how much she was enjoying the book made me want to read the it too. So I did. Yann Martel is an amazing wordsmith. In Life of Pi, he tells a beautifully written, exciting, thought provoking story of physical and emotional survival.

0 of 0 people found the following review helpful.
I learned a lot.
By D. New
I dislike stories of the sea, but I loved this book. This book actually changed my views on zoos, although that's hardly what it's about. It's philosophy above all, but each scene is believable and the writing is exceptional. The will to live is well put forth, through trials that will make your hair stand on end. And then Martel makes you laugh out loud, usually when you least expect it. Phantasmagorical? Of course. But eminently readable. Don't start this book on Sunday evening, if you have to work on Monday morning!

9 of 9 people found the following review helpful.
Multiple Gods, a Tiger, a Lifeboat and a Lot of Faith
By Ed Uyeshima
Author Yann Martel has come up with a fanciful tale that revolves around faith, and the story seems to challenge and deepen with every turn of his far-fetched plot. There are two distinct stories told sequentially and book-ended by the recollections of an older version of the main character, the son of a zookeeper in Pondicherry, India. What makes Martel's novel especially compelling is how the two stories tie together through his theme without pontificating about it either way. He first deals with faith directly as a question of identity for the teenaged Pi, who concurrently embraces three different religions in order to encompass how he views God in all the different forms presented to him. Martel uses subtle humor as well as personal insight to get his points across.

Then in an interesting turn, Martel masterfully feeds the second story with the first one by arguing against "anthropomorphosis", a concept that ascribes human emotions and traits to animals. Pi instead believes animals are creatures of habit and content to repeat their daily routines once all their needs are met. Baby boomers will recall this to be the same tenet Joy Adamson was espousing in "Born Free", but the point this time around is not to humanize and sentimentalize the animals inhabiting his story. Rather, this concept proves to be an indispensable survival tool when his family decides to move from India to Canada aboard a Japanese cargo ship, which sinks and forces Pi to share a lifeboat for the better part of a year with a Bengal tiger named Richard Parker. But the story is not so much one of persisting against all odds, as one would expect, but rather it is much more focused on confronting unrelenting challenges to one's beliefs in the face of extraordinary circumstances. Martel then goes further by challenging us at the end to disbelieve it all, thus enveloping the reader into his overriding question of faith. Despite the use of some literary conceits, such as having the older Pi tell his story to the writer, this is a wonderfully creative book that deserves the praise heaped upon it.

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Sixteen-year-old genius Idea Deity believes that he exists only in the pages of a novel written by a malevolent, omnipotent author . . . and that he will die in chapter 64. Meanwhile, an older teen named Reacher Mirage sings lead vocals for the undercover rock band Youforia . . . a band that exists in Idea’s world only as an Internet hoax that Idea himself perpetuated. Then there’s beautiful and mysterious Eunice Truant, who links their destinies. When Idea and Reacher plunge into the reality of Fireskull’s Revenant, the twisted epic fantasy novel they’ve both been reading, chapter 64 bears down on them like a speeding freight train on an unstoppable collision course. Being trapped in a bad book can be a nightmare. Just ask Idea Deity.

• Sales Rank: #4549795 in Books
• Published on: 2011-07-11
• Format: Bargain Price
• Number of items: 1
• Dimensions: 8.50" h x 5.75" w x 1.10" l,
• Binding: Hardcover
• 336 pages

Review
Robert T. Jeschonek "sees the world like no one else sees it, and makes incredibly witty, incisive stories out of that skewed worldview."—Mike Resnick, Hugo and Nebula Award-winning author of the Starship series   "Recalling outsider films like Donnie Darko or Gregg Araki's Teenage Apocalypse trilogy, this proudly surreal piece of metafiction could develop a cult following."—Publishers Weekly   "This first novel has all the look of a cult fave: baffling to many, an anthem for a few, and unlike anything else out there."—Booklist, starred review   "It is also, however, a brilliantly developed and impeccably presented story that will engage readers immediately and keep them intrigued through to the last twists."—The Bulletin of the Center for Children's Books   "Libraries looking for a strong addition to their science-fiction collections will want to invest in this sophisticated novel."—School Library Journal

About the Author
Robert T. Jeschonek's short stories have appeared in anthologies published by DAW (a science fiction and fantasy imprint of Penguin), several Star Trek anthologies published by Pocket Books, and in numerous print and online magazines. He has also written stories for DC Comics and is working on a Twitter serial called "Shave," forthcoming in 2011. For more information, please visit him on the web at www.thefictioneer.com. This is Robert's first novel. He lives in Johnstown, Pennsylvania.

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2 of 2 people found the following review helpful.
Very unique albeit confusing!
By bookworm1858
My Favorite Band Does Not Exist by Robert T. Jeschonek
Clarion Books, 2011
325 pages
YA; Fantasy
3/5 stars

Source: Received a free ARC via Netgalley in exchange for an honest review.

This is definitely one of the most unique books I've ever read with a premise I'm not sure I can describe. The writing is mostly clear (especially with the confusion of plot) with likable characters and there were some interesting thoughts about failure, control, and authorial dictates. But because of the plot, I didn't feel entirely connected to the book as a whole.

I will try to explain without spoiling anything because this was wonderfully different with a general sense of happiness for me and worth a try if you can get this at the library. Idea Deity is on the run and suffering from Deity Syndrome, the suspicion that he is a character in a novel where the author while kill him (in this case, in chapter 64). His chapters alternate with Reacher Mirage, lead singer of the secret band Youforia. Their lives intersect when Idea realizes that his made-up band Youforia has taken on a life of its own and Reacher realizes that some one is leaking details about his band that would have been impossible to know. Somehow their lives are overlapping and intersecting; mixed up in this is the novel that both guys are reading called Fireskull's Revenant and a mysterious girl with a face on both sides of her head.

I hope that makes sense although it might not because I spent much of the book somewhat confused. Each story within itself made sense but as they started overlapping, my confusion grew. Suffice it to say that there is a very real reason for the similarities in their lives and that most is explained even if I didn't quite catch it all.

Overall: While I cannot in good conscience recommend that you run out and buy this book (because I didn't enjoy it enough to do that), I think it's a distinct change from the usual YA and might be good for fans of Alice in Wonderland, Douglas Adams, and Terry Pratchett.

3 of 4 people found the following review helpful.
The Story Within the Story
By KnC Books
Deity's Syndrome: "Multisystemic symptoms resulting from a psychosomatic manisfestation of the unshakable fear that the patient is a character in a novel".

That mouthful of psychological jargon is the diagnosis for the character of Ideal Deity in Robert T. Jeschonek's "My Favorite Band Does Not Exist". It also sets the stage for a wild allegorical ride through philosophical thought from the Greeks to modern Western philosophy.

The characters we meet are always more than they seem. Symbolism is rife in every name, occupation, and physical description. Janus, two-faced god of beginnings and transitions makes an early appearance, albeit in female form, and is there to guide Ideal along the path from existential solipism, through Cartesian dualism, and finally to nondualist enlightenment. Along the way we meet Descartes' "evil genius" and a host of mythological and religious figures as friends, foes, or fellow travelers. All of this is set in the current world of online music, Twitter, and the Internet - well, except where it moves into a different reality.

Jeschonek does a great job of matching the actual format of the book to the story. You know when you are reading the book within the book because, well it's a book within the book! The language and concepts are accessible; this is not a philosophy text full of 6 syllable words. As the novel moves towards its closing, the story does gather speed, flipping through reality like a deck of cards in "Alice in Wonderland", and it can be a little hard for the reader to keep up.

The question in the back of my mind throughout this fast-moving book was, "Would a teenager like this?" The book is targeted to ages 12 and up (grades 7+), and some of the vocabulary and plot twists are more appropriate for the higher end of that range. I can see this being used in an English classroom to teach metaphors and symbolism; motivated students would have a field day deciphering names and finding hidden symbology. But would they read it for fun? I'm just not sure. I definitely know some kids who would love this - and some who would glaze over a few pages into it.

So I am afraid I must compromise. I rate "My Favorite Band Does Not Exist" 5 stars for how much I enjoyed reading it, but have to lower that to 4 stars in consideration of how I think most teenagers would receive it. That being said, if you know a young adult that likes a story with a little more story to it, and enjoys sci-fi/fantasy, I heartily recommend "My Favorite Band".

0 of 0 people found the following review helpful.
Book Review - My Favorite Band Does Not Exist by Robert T. Jeschonek
By The Alternative
My Favorite Band Does Not Exist
Robert T. Jeschonek
Clarion Books
Publication Date: July 11, 2011
ARC Trade Paperback Uncorrected Proof
336 pages
ISBN: 054737027X

Robert T. Jeschonek's My Favorite Band Does Not Exist is a somewhat peculiar, highly enjoyable, and intricate, multi-layered in-book fantasy within a tale within a story. Idea Deity (yes, that's his name) has created an imaginary band that's become an overnight, Internet sensation even though they haven't released a single song to the public yet . Idea's website includes fictional tour dates, invented member bios, and imaginary lyrics for a band he calls Youforia. In addition, Idea suffers from a rare disorder known as Deity Syndrome, a psychosomatic condition that makes him believe he's a character created for a novel. To make matters infinitely worse, he's convinced he'll meet his demise in the middle of Chapter 64 which he fears is close. Okay, I know this sounds really weird but it gets better(read weirder)...

Elsewhere, introvert musician Reacher Miracle (yes, that's his name) the actual leader of a band called Youforia can't understand how someone could post so much inside information about his band, his life, and his songs on the Internet. Constantly on the run there's no way anyone could gather so many details about the band. Reacher is determined to find the webmaster of this fake but viral website to find out how he knows so much about him and a band that has yet to play a single note in public. (Does Reacher also suffer from Deity Syndrome?)

In-book, both Reacher and Idea happen to be reading the same Swords and Sorcery fantasy novel called Fireskull's Revenant* and since both protagonists are equally invested in the book we get to read portions of the story along with them. The interspersed chapters from Fireskull's Revenant are presented with tattered, worn pages so you know when you've breached the in-novel fantasy which chronicles the tale of an epic battle between two superhuman/magical characters.

I must admit a certain curiosity pertaining to the link between the various disparate, in-book stories (which prompted a lot of quick page-turning to be sure) and how the author was going to pull it all together but the chain of events he created knit the different story lines together so well that they flowed into a brilliantly written, effortless, and epic conclusion(s). I was pleasantly surprised at the imaginative technique and singular skill Jeschonek employed to bring all the loose story arcs successfully together.

In some ways My Favorite Band Does Not Exist reminds me of Jasper Fforde's Thursday Next series and Bradley Denton's Wrack and Roll both of which I thoroughly enjoyed. The literary trope of jumping between books (while in-book) exits in Fforde's work (although it's a bit more complicated than that) and the out-of-control Rock `n Roll theme is prevalent in Denton's. While My Favorite Band Does Not Exist contains elements of both it's also rife with character paranoia, tribalism, fantasy, and the absurd which, in my opinion, makes it well worth the time spent reading it.

Naming conventions follow the Thomas Pynchon school of thought where character names contain symbolism (both subtle and obvious) and ultimately help define the attributes and personalities of the main characters. With names like Idea Deity, and his parents Vengeful Deity and Loving Deity, Reacher Mirage, Johnny Without, Lord Fireskull, and Eunice Truant this is evidently "meaningful naming" where the first, last, or full names say something primal about the character, often with multiple layers. In addition, the characters we meet are always more than they seem and symbolism is endemic in every name, occupation, and physical description.

As a debut urban-fantasy novel My Favorite Band Does Not Exist stands out as an ambitious and promising start for author Robert T. Jeschonek who is obviously a talented and creative writer. I, for one, would like to see his sophomore effort. As a reviewer I'm always interested in reading additional works of debut novelists so that I can follow their growth as writers, be it urban fantasy or not. What ever he plans to release next I'll be tracking it closely.

File Under: Jasper Fforde meets Wrack and Roll meets Uber-urban fantasy meets metafiction meets Swords and Sorcery meets trashed hotel rooms. If you enjoy any of these individually you'll love My Favorite Band Does Not Exist/ Fireskull's Revenant collectively.

My Favorite Band Does Not Exist is available today, July 11, 2011 in hardcover. Review copy provided free as part of the Amazon Vine program.

4 stars out of 5

The Alternative
Southeast Wisconsin

* Note: I'm not exactly sure how or where I got this impression but I felt that the fantasy novel Fireskull's Revenant was originally written by Mr. Jeschonek as a stand-alone story that eventually got eaten whole by the Idea/Reacher/Youforia novel and churned into the three-way fantasy My Favorite Band Does Not Exist. Then again, I've been known to be wrong...

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