Reddit mentions: The best international accounting books

Denso, concettoso. Come sottotitolo gli darei 'la meccanica dell'emigrazione': per capire come funzionano le leve e gli ingranaggi.

https://www.amazon.it/dp/8858125509


Anche consigliato, ma meno accessibile:

https://www.amazon.it/dp/8842090743

Actually, people are already writing books about it. I would never be called a genius.

https://www.amazon.com/Chinas-Guaranteed-Bubble-Government-Propelled-ebook/dp/B019PN9AAI

But most of all, predicting when the bubble bursts is hard since China's government has a lot more power and fewer regulations than democratic societies. They can forcibly crack down on the economy to delay it for years- countries like the U.S. can't.

You misinterpreted my remark. I did not ignore your source, but I admittedly did not read it in its entirety, not did I read each citation in the document. I will edit this past to include a list of useful books when I return home.

Edit: The reason why commercial banks create the illusion of an inflated monetary supply is that certain low-risk investments (demand deposits, treasury bills, and commercial paper to name a few) are grouped as cash on financial statements. Thus, if you were to add up all of the "cash" recorded in every company and individual's "balance sheet," you would find that the total exceeds that of the total monetary supply. The reason for this is that all of these assets share the same characteristics. They are highly liquid, and fungible. Distinguishing these assets from cash is immaterial in every way; it would provide no additional useful information to stakeholders, and would be costly to report. For more information on these accounting principles, consult Financial Accounting.

Commercial banks (which I will later distinguish from Investment banks) have a very well defined business model. Through a combination of equity and semi-permanent liability funding, they make loans with varying degrees of risk (E.G. car loans and mortgages). Deposits in these types of institutions can be revoked at any time, thus the name demand deposit, the deposit will be refunded on demand. These are the types of banks you are talking about. This type of financing is substantially similar to financing options available to corporations, especially commercial paper. For more information on Corporate Finance, consult Ross. For more information on treasury management, consult Bragg.

I get where you are coming from. A lot of people want to blame banks for the recent recession. I think there is an argument to be made that investment banks inadequately estimated and reported risks in certain investments. But it is important to distinguish commercial banks from investment banks. Commercial banks take deposits from customers, and provide low risk loans to generate revenue. Depositors have very little control over the investments involved, and commercial banks are required to maintain accounts at the federal reserve, and maintain a reserve of cash to refund deposits. Depositor's accounts are insured by the FDIC (in the States). These accounts are reported as cash. Investment banks take deposits from customers, and invest in a variety of financial instruments. Often, depositors maintain control over the investments made in their accounts. Investors bear the liability for any losses on their accounts, and earn any income generated by the financial instruments. Investors are not guaranteed by the FDIC. These accounts are reported as investments, not cash.

Neither of these types of accounts pull money out of the air, or generate something for nothing. Again, I think there is an argument to be made that investment bankers have, in the past, poorly reported risk exposure. There is also an argument to be made that moral hazard became involved through government institutions such as Freddie Mac and Fannie Mae. There is not, however, room to argue that banks are some sort of magical institutions which have any special powers that you or I do not. If you want to argue that banks are bad, blame investment banks for inadequate risk disclosure. Blaming commercial banks for the recent recession is a bit like blaming Netflix for the collapse of Enron.