I finally finished a book published earlier this year titled "Endgame – The End Of The Debt Supercycle And How It Changes Everything" by John Mauldin and Jonathan Tepper.
The first half of the book deals with basics of economics and looks at recent research about sovereign debt problems. Besides some economics 101 they explain the concepts of the debt supercycle, deflation, inflation and hyperinflation. In the second half the authors look at various countries and their specific problems: The United States, The European Periphery ("PIIGS"), Eastern Europe, Japan ("the bug in search of a windshield"), The United Kingdom and Australia.
The authors argue that we are in a balance sheet recession which is the end of the 60-year long debt supercycle. They write: "The recovery time in much of the developed world is going to be measured not in months but in years, perhaps decades for some. It will be a much more volatile economy with more frequent recessions. For some countries, this will be very deflationary; for others, not so much. And for some, the risk of high inflation is very real.”
The full review is available only via Seeking Alpha: