Bad Money: Reckless Finance, Failed Politics, and the Global

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

The bestselling author reveals how the U.S. financial sector has hijacked our economy and put Americaâ€™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 Phillipsâ€™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. Americaâ€™s current challenges (and failures) run striking parallels to the decline of previous leading world economic powersâ€”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.

â€œBad moneyâ€ refers to a new phenomenon in wayward megafinanceâ€”the emergence of a U.S. economy that is globally dependent and dominated by hubris-driven financial services. Also â€œbadâ€ 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 worldâ€™s other currencies. In all these ways, â€œbadâ€ finance has failed the American people and pointed U.S. capitalism toward a global crisis. Bad Money is the perfect follow- up to Phillipsâ€™s last book, whose dire warnings are now proving frighteningly accurate.
Country USA
Brand Viking Drill & Tool
Manufacturer Viking Adult
Binding Hardcover
ReleaseDate 2008-04-15
UnitCount 1
Format Bargain Price
EANs 9781615513765

Country	USA
Brand	Viking Drill & Tool
Manufacturer	Viking Adult
Binding	Hardcover
ReleaseDate	2008-04-15
UnitCount	1
Format	Bargain Price
EANs	9781615513765

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

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