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by: Kevin Phillips List Price: $25.95 Amazon.com's Price: $17.13 You Save: $8.82 (34%)Prices subject to change. Availability: Usually ships in 24 hours
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: 512 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. Average Rating:
 Rating:  - bad moneyThis book should be read before The Predator State is read. It is a less detailed, somewhat bias claim the understand the current situation in our economy but it lacks the meat that Galbraith covers in the Predator State. I do believe that is is worth reading so that some understanding of what we are doing by borrowing so much at this time has caused. We seem to need a good recession to get back our ethics and begin real growth sometime soon. We are in very bad shape and now that the problem ... Read More Rating:  - Too bad he is an ideologueIf you are a Bush hater you will like this one. Too many statistics though. The author does have some interesting ideas about the current economic crisis and I look forward to learning more and deciding which I think are true. Rating: - Interesting but lack of attention to the Kindle versionI'd give this 3 1/2 stars as I found the content fairly well presented but felt some of the issues were too rushed and could be more deeply examined analytically. It felt like the publisher's deadline was the more important criterion. Also, I appreciate that this was not a political partisan or ideological diatribe. Phillips is pretty fair in assigning failures to the people in control. The loss of a star was due to the Kindle edition not linking footnotes or the index to their references ... Read More Rating:  - Best Book Around on the Financial CrisisThere is simply nothing better for understanding the mess we are in and what we will have to address if we really hope to dig our way out of this very deep hole. Required reading for all Americans. It is surprisingly readable for the information and deeper understanding Phillips is giving us. Puts things together so well you end up feeling like every other source of information or commentary sees only part of the elephant. Pair this with "The World is Flat" by Tom Friedman and you've got the ideal gift ... Read More Rating:  - bad bookThis book could have been a nice 10 page pamphlet. The other 190+ pages are just a repeat of the same arguments, sometimes using the same words. And, after hearing the author on Bill Moyers PBS program I expected more and perhaps even a prescription for how to get out of our 2008 financial meltdown. Unless you are a pessimist and see the end of American capitalism this book is not for you. |
