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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
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Binding: HardcoverDewey 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 Studio: Viking Adult Related Items:
Browse for similar items by category: Click to Display Editorial Review: Product Description: The bestselling author reveals how the U.S. financial sector has hijacked our economy and put Americas 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 Phillipss 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. Americas current challenges (and failures) run striking parallels to the decline of previous leading world economic powersespecially 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 megafinancethe 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 worlds 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 Phillipss last book, whose dire warnings are now proving frighteningly accurate. Average Rating:
 Rating: - A Labor PerspectiveThe fact that Joe "I'm-mortgaged-to-the-hilt" is now living in a car he can't afford to move may mean more than a temporary adjustment in the credit system. That's according to author Phillips, and his book makes good sense. As he shows, our financial underpinnings are rickety, to say the least. Worse, our financial bubble no longer rests on an industrial foundation, but has become the economic foundation itself. Now talk of "foundations" has slipped out of fashion with the rise of ... Read More Rating:  - Bad Money, Great Writing, Great InformationIf you love words and sentence construction then you will really appreciate Mr. Phillips' writing style. It's a pleasure to read popular nonfiction written above the ususal boring high school level. Yes, his style takes active reading at first, but then your brain becomes used to it and savors each passage as a refreshingly delightful and active experience. I am SO glad to have read this book. I feel much better prepared for the future. Rating: - Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American CapitalismThe book is excellent, the research appears unbiased and objective, and the delivery of the information is direct without being dogmatic. The mainstream media should be so honest about the mess we're in! Rating:  - Phillips Loses Sight of an Essential American TraitI have spent four decades reading Kevin Phillips' books. In other forums, I have identified him as one of my favorite authors and analysts. In my mind he has authored at least brilliant books: The emerging Republican majority, The Politics of Rich and Poor: Wealth and the American Electorate in the Reagan Aftermath and Wealth and Democracy: A Political History of the American Rich. It is difficult for me to say, this book does not measure up to his early high analytic standards Read More Rating: - GreatReading this book requires some background knowledge in economics and finances, but it's great. It's packed with statistics (hence the subject matter) and it has a kind of academic vibe, so it's not for everybody. But it's very insightful and a great critique of what American capitalism has become. A supplemental read for those interested in solutions to our environmental and economic woes, should read "Natural Capitalism: Creating The Next Industrial Revolution." 
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