Table of Contents
Foreword . . . xiii
Acknowledgments . . . xv
About the Author . . . xvi
Introduction . . . 1
Chapter 1: The Fed Sentences the Consumer to Debtor’s Prison . . .7
An Economic Recovery Built on Borrowed Money . . . 8
The Fed’s Potion of Low Rates and Rising Home Prices Becomes an Economic Elixir . . . 14
A Chicken in Every Pot? Try a Hummer in Every Garage. . . 15
The Three Cs of Credit Give Way to Financial Innovation . . . 19
Chapter 2: The Biggest Gamblers Go “All In” on the Housing Bet . . .35
Trouble in Paradise . . . 37
The Canary Died Unheard from the Boardrooms, Yachts, and Golf Courses . . . 39
The Credit Bubble Draws in Every Last Bull . . . 46
Chapter 3: Financial Chaos . . . 53
The Crisis Moves from Subprime to Prime Time . . . 61
Chapter 4: Quis Custodiet Ipsos Custodes? . . . 71
An Alphabet Soup of Rescue Acronyms Will Save Us. . . 72
Strategy Number Two: Spend Our Way Out of a Spending Problem . . . 75
The Vestigial Effects of the Crisis Come into Focus . . . 79
The Visible Hand Is Coming into View, and It’s All Thumbs . . . 92
Chapter 5: A New Landscape for Investors . . . 101
Entrepreneurialism Is Thriving in Many Key Emerging Markets. . . . 105
Crisis Is an Opportunity for Those in a Position to Seize the Opportunity. . . 111
The New Landscape . . . 113
Chapter 6: China: Ready for Prime Time . . . 117
A Culture Well Suited for Capitalism. . . 119
Putting Those Rainy-Day Savings to Work in the Worst Storm of the Past Century . . . 122
Urbanization Is the Growth Engine . . . 126
The Path Toward Consumerism and the Domestic Economy. . . 128
Prime-Time Products . . . 135
Chapter 7: Proteins and Agribusiness: Billions and Billions to Be Served . . .141
Where’s the Beef (and Chicken and Pork, Too)? . . . 142
Eating Good in the Global Neighborhood . . . 146
Brazil Has the Competitive Advantages in Agribusiness. . . 152
Strong Fundamentals Across the Value Chain. . .161
Chapter 8: Formula for Success: Rise Early, Work Hard, Strike Oil . . .165
In the Long Term, Healthy Demand Meets Higher Cost Supply. . . 170
Market Distortions from the Fed’s Loose Credit and Easy Money . . . 179
Seeking Alternatives in the Hydrocarbon Space. . . 191
Chapter 9: An All-Too-Common Tragedy . . . 201
Human Behavior Is Timeless . . . 202
Strong Demand Underscores the Overexploitation . . . 206
A Tragedy Leads to an Opportunity . . . 210
Chapter 10: What Happens When 700 Million Students Want Extra Help?. . .217
Spending on Education Takes Precedence in Many Emerging-Market Households. . . 220
The Role of Technology and Innovation . . . 223
10 Million Students Applying for 6 Million Spots in College–No Pressure . . . 225
Continuing Education. . . 227
Financial Crisis Portends Continued Growth in the Emerging-Market Education Services. . . 230
Education Plays and Their Fundamental Dynamics . . . 234
Chapter 11: A Rare Opportunity . . . 241
Demand for Global Technology Remains Strong. . . 242
It’s Not Easy Being Green . . . 245
There Is Oil in the Middle East; There Are Rare Earths in China. . . 249
Index . . . 257
