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Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism | 
| Author: Kevin Phillips
Publisher: Viking Adult
Category: Book
List Price: $25.95
Buy Used: $9.70
You Save: $16.25 (63%)
Rating:  67 reviews
Sales Rank: 484
Media: Hardcover
Pages: 256
Number Of Items: 1
Shipping Weight (lbs): 1.1
Dimensions (in): 9.1 x 6.2 x 0.1
ISBN: 0670019070
Dewey Decimal Number: 330.973
EAN: 9780670019076
ASIN: 0670019070
Publication Date: April 15, 2008
Availability: Usually ships in 1-2 business days
Shipping: Expedited shipping available
Shipping: International shipping available
Condition: HARDCOVER - NEVER READ, PUBLISHER'S OVERSTOCK - in excellent clean condition -
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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.
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| Customer Reviews: Read 62 more reviews...
Bad Money is a good read! November 20, 2008
David M. Cann
This is a must read for any elected pol who thinks they know whats going on.
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