Economic Cycles

As a self-proclaimed futurist and economic thinker, Khafra sees a world bordering on economic calamity but also understands that our world has the technological genius to create the conditions for a massive transformation after a period of purgatory. The central thesis of this book is to examine the power and massive influence of Boom and Bust Cycles on a global scale; a parallel mission is to also examine elements, technologies and systems that will give rise to a new era during our next recovery phase.

What is the arrogance cycle? We've just lived through it. As market bubbles build, our confidence level rises (dis)proportionately. Everyone wants in on the action. We want to believe Wall Street, and once we do, the inevitable happens. Like Dr. Frankenstein breathing life into inanimate flesh, investment professionals sought ever more novel ways to create wealth. The only problem was that it was all artificial.