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Fear and Greed: Investment risks and opportunities in a turbulent world by Nicolas Sarkis

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Chapter 2: Will Deleveraging Drag us Down?

Deleveraging is an ugly construct of a word. Mercifully, it is seldom heard outside of financial circles. But while the actual word may be alien to most lay folk, the process of deleveraging is touching everyone in some way today. Following the catastrophe of the credit crunch, the developed world has begun the long and painful task of reducing its enormous debt burden to more sustainable levels.

The deleveraging process promises to be one of the defining financial themes of the coming years. It will affect economic growth for the foreseeable future and perhaps our attitudes and behaviour for even longer. It could well also lead to the restriction of certain liberties that we currently enjoy, especially ...

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