Bad Money
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 riskand it may be too late to stop it.
Stats for nerds
1recommend
3mentions
3people
2008years
33% recommend67% neutral
What Hacker News says
- His nick implies, at least statistically speaking, that he lives in a informational isolation and has no access to news, unless he knows more than one language [and uses it].
For English speakers the only source of information about international affairs, IMO, is books: Internet and TV are useless. For Daniel I'd recommend "Bad Money" by Kevin Phillips.
- I read all the time, no matter what my schedule is. It is an anchor in my life. Mostly sf and time-tested classics.
I'm starting to read Aubrey-Maturin by Patrick O'Brian. I finished Master and Commander and I'm on the next one, Post Captain.
I'm reading Bad Money by Kevin Phillips, which basically called the market failures early this year.
I've got A Canticle for Leibowitz and Anathem, which I'm doing as a pair.
I started reading Stephen King in chronological order a while back, and I'm up to Pet Sematary (early 80s).
Also, Crockford's JavaScript book.
- Aside from my ability or non-ability to speak Russian, I'm curious as to how my nick would imply that I "live in a [sic] informational isolation and has no access to news..."
I'm also looking forward to a book that Amazon touts "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."
Gee. Must be quite the fun guy to run into at parties.
I'm not going to get into Russian corruption and associated risk involved with investing there. I'll let the world markets make those calls. I stand by my original comment until persuaded otherwise, and statistical analysis of my nick ain't cutting the mustard, gentlemen.
