| |  | Books : Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism |  | | | | | | | | | |
List Price:$25.95
Our Price: $15.10
You Save: $10.85 (42%)
Prices subject to change.
Availability:Usually ships in 24 hours
Binding: Hardcover
Dewey Decimal Number: 330.973
EAN: 9780670019076
ISBN: 0670019070
Label: Viking Adult
Manufacturer: Viking Adult
Number Of Items: 1
Number Of Pages: 256
Publication Date: April 15, 2008
Publisher: Viking Adult
Sales Rank: 1774
Studio: Viking Adult
Related Items:
Editorial Review:
Product Description:
The bestselling author reveals how the U.S. financial sector has hijacked our economy and put America’s global future at risk
In American Theocracy, Kevin Phillips warned us of the perilous interaction of debt, financial recklessness, and the increasing cost of scarce oil. The current housing and mortgage debacle is proof once more of Phillips’s prescience, and only the first harbinger of a national crisis. In Bad Money, Phillips describes the consequences of our misguided economic policies, our mounting debt, our collapsing housing market, our threatened oil, and the end of American domination of world markets. America’s current challenges (and failures) run striking parallels to the decline of previous leading world economic powers—especially the Dutch and British. Global overreach, worn-out politics, excessive debt, and exhausted energy regimes are all chilling signals that the United States is crumbling as the world superpower.
“Bad money” refers to a new phenomenon in wayward megafinance—the emergence of a U.S. economy that is globally dependent and dominated by hubris-driven financial services. Also “bad” are the risk miscalculations and strategic abuses of new multitrillion-dollar products such as asset-backed securities and the lure of buccaneering vehicles like hedge funds. Finally, the U.S. dollar has been turned into bad money as it has weakened and become vulnerable to the world’s other currencies. In all these ways, “bad” finance has failed the American people and pointed U.S. capitalism toward a global crisis. Bad Money is the perfect follow- up to Phillips’s last book, whose dire warnings are now proving frighteningly accurate.
Customer Reviews Average Rating: 
Rating:  - Help wanted
Does the mortgage credit crisis bother you?Are you concerned about high oil prices?Do you get the feeling that Wall Street is largely a high-stakes casino, where insiders collect billions on winning bets, and also collect billions on losing bets, payed off with taxpayer bailouts?Do you want to understand why this is happening and how the game works?Then go find a different book.The author of this book is a "big idea guy", and he does nothing to elucidate his major points, all of which I ... Read More
Rating:  - People Hurt People
"Guns don't hurt people.People hurt people."It's the same in shadow finance.If you invest for yourself, or if you want to invest for yourself, but you don't trust a system that keeps the middle class investors in the dark, that over-extends its borrowing to crisis levels, that sells questionable contracts & mortgages not only to naive Americans but to unsuspecting foreign institutions (buyer beware), then you will find the root causes of our 2007 financial lock-up in BAD MONEY useful.Like ... Read More
Rating: - Powerful but Depressing
I read this book after hearing the author, Kevin Phillips, give a radio presentation to the Cambridge Forum.Phillips was familiar to me as a spokesman for conservative perspectives over a span of decades, a perspective that I never shared.Thus, I was a bit skeptical when I first heard his presentation on this topic. However, I was quickly impressed by his careful, scholarly analysis, and have come to agree that he is exactly right.Phillips' central point is that the United States has abrogated ... Read More
Rating:  - Tough read but worth checking out
Since there are so many long reviews of this book that pretty much cover most of the salient points, I'll keep mine fairly short. This book is interesting if you are one of those people that suspect there is something wrong with the way our country has been doing things, and there are a number of important ideas you may not have heard about or thought about in the way they are presented. I have only a couple of small complaints. As others have pointed out, the style is often extremely dense, especially ... Read More
Rating: - A tough read but a timely and truly urgent one
Kevin Phillips' latest book - Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism - is not an easy read and not an easy book to review. To properly review it would take more space than is practical in this format. What I truly want to do with this review, then, is to convince people how very important this book is and, as other reviewers have noted, how important it is for anyone willing to tackle its complex subject matter to read it _now_. It will truly change your ... Read More
Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism | | | |
| | | |  | | | | | | | | | | | | | | | |
| | | | | 
2004-2007 Copyright © , All right reserved.
the website powered by web hosting. |
|
|
