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Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism

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Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism Cover

ISBN13: 9780670019076
ISBN10: 0670019070
Condition:
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Synopses & Reviews

Publisher Comments:

The bestselling author reveals how the U.S. financial sector has hijacked our economy and put Americ‛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 Phillip‛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. Americ‛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 mone” 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“ba” 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 worl‛s other currencies. In all these ways,“ba” finance has failed the American people and pointed U.S. capitalism toward a global crisis. Bad Money is the perfect follow- up to Phillip‛s last book, whose dire warnings are now proving frighteningly accurate.

Review:

Kevin Phillips is alarmed by the increasing gap in wealth between the richest Americans and the rest of the population. Other analysts see this trend coming from political choices, the unplanned chaos of global markets and individual avarice. Phillips, author of "American Dynasty" and "American Theocracy," spies the shadowy hand of the financial elite pulling the strings. According to him, since the... Washington Post Book Review (read the entire Washington Post review)

Synopsis:

The bestselling author of American Theocracy reveals how the U.S. financial sector has hijacked the economy and put America's global future at risk.

Synopsis:

In his acclaimed book American Theocracy, Kevin Phillips warned of the perilous interaction of debt, financial recklessness, and the spiking cost (and growing scarcity) of oil- warnings that are proving to be frighteningly accurate. Now, in his most significant and timely book yet, Phillips takes the full measure of this crisis. They are a part of what he calls "bad money"- not just the depreciated dollar, but also the dangerous attitudes and the flawed products of wayward mega-finance. His devastating conclusion: In its hubris, the financial sector has hijacked the American economy and put our very global future at risk-and it may be too late to stop it.

About the Author

Kevin Phillips has been a political and economic commentator for more than three decades. A former White House strategist, he is a regular contributor to the Los Angeles Times and NPR and writes for Harper's and Time. His books include New York Times bestsellers The Politics of Rich and Poor and Wealth and Democracy.

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neaq2002, September 25, 2008 (view all comments by neaq2002)
Appropriate name for the times!
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Product Details

ISBN:
9780670019076
Subtitle:
Reckless Finance, Failed Politics, and the Global Crisis ofAmerican Capitalism
Author:
Phillips, Kevin
Author:
Brick, Scott
Publisher:
Penguin Audio
Subject:
Government - National
Subject:
Economic Policy
Subject:
United states
Subject:
Economic Conditions
Subject:
Public Policy - Economic Policy
Subject:
United States--Economic conditions--2001-
Subject:
United States - Economic policy - 2001-
Copyright:
Edition Description:
Hardback
Publication Date:
20080415
Binding:
Hardback
Grade Level:
from 12
Language:
English
Illustrations:
b/w charts and graphs throughout
Pages:
256
Dimensions:
9.52x6.03x.96 in. .99 lbs.
Age Level:
from 18

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Related Subjects

History and Social Science » American Studies » Culture Wars
History and Social Science » Economics » General
History and Social Science » Economics » US Economy
History and Social Science » Politics » General
History and Social Science » Politics » United States » Culture
History and Social Science » Politics » United States » Politics

Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism Sale Hardcover
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Product details 256 pages Viking Books - English 9780670019076 Reviews:
"Synopsis" by , The bestselling author of American Theocracy reveals how the U.S. financial sector has hijacked the economy and put America's global future at risk.
"Synopsis" by ,
In his acclaimed book American Theocracy, Kevin Phillips warned of the perilous interaction of debt, financial recklessness, and the spiking cost (and growing scarcity) of oil- warnings that are proving to be frighteningly accurate. Now, in his most significant and timely book yet, Phillips takes the full measure of this crisis. They are a part of what he calls "bad money"- not just the depreciated dollar, but also the dangerous attitudes and the flawed products of wayward mega-finance. His devastating conclusion: In its hubris, the financial sector has hijacked the American economy and put our very global future at risk-and it may be too late to stop it.

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