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Empire of Debt: The Rise of an Epic Financial Crisis (Hardcover)
by William Bonner , Addison Wiggin
| Category:
U.S. economy |
| Market price: ¥ 288.00
MSL price:
¥ 268.00
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| Stock:
Pre-order item, lead time 3-7 weeks upon payment [ COD term does not apply to pre-order items ] |
MSL rating:
 Good for Gifts |
| MSL Pointer Review:
A good summary of the current US debt problem by putting the debt in the context of history - sharp, witty and refreshing insights. |
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Author: William Bonner , Addison Wiggin
Publisher: Wiley
Pub. in: November, 2005
ISBN: 0471739022
Pages: 384
Measurements: 9.1 x 6.4 x 1.3 inches
Origin of product: USA
Order code: BA00840
Other information: ISBN-13: 978-0471739029
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- MSL Picks -
There was a time when being a "conservative" meant you were a stodgy old curmudgeon; an isolationist, closed to new ideas. Now, the conservatives are leading the charge - promising to make the entire world "safe for democracy!" Never has such a bold plan been put into action - that is, not since the "liberal" democrat Woodrow Wilson coined the phrase nearly a century ago! How could such a shift in the politics and economy of the United States have come about in a span of less than 100 years?
In Empire of Debt, maverick financial writers Bill Bonner and Addison Wiggin - the team that brought you the international bestseller Financial Reckoning Day - reunite to provide you with the first in-depth look at how the American character has shifted to accommodate its new imperial role; how we have abandoned the private virtues of personal liberty, economic freedom, and fiscal restraint; and how the "guv'mint" has gained control of public life and the economy. The result has been, among other horrors, unfettered deficit spending, gluttonous consumption, and fearless military adventurism. All the while, the nation slouches ever more precipitously towards bankruptcy.
Empire of Debt is a wry, witty, and erudite look at the state of the empire. To the delight of many, Bonner and Wiggin do not spare the political icons of either national political party. Casting a wide-angle lens through history and into the next century, the authors suggest a "great empire" is to the world of geopolitics what a great bubble is to the world of economics - it is attractive at first but will eventually end in catastrophe.
Unfortunately for some, the Empire of Debt will be received like an unwelcome guest who intends to spend the night. But for those who open the door to the often uproarious, but always sensible, wisdom within these pages, the future will be bright, indeed.
"They've done it again!" says financial commentator Eric Fry, "Once more, Bonner and Wiggin have weaved together the disparate worlds of politics, economics, and personal finance to produce an enormously entertaining snapshot of modern American life." We entreat you to sit back, relax, and drink in the splendor that is America's Empire of Debt.
- From the publisher
Target readers:
People who are interested in America or economic history
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Bill Bonner is President and CEO of Agora Inc., one of the world's largest financial newsletter companies. Agora is headquartered in Baltimore, Maryland, and has offices overseas in London, Paris, Ireland, Bonn, Madrid, Melbourne, and Johannesburg. Bonner is the creator of the Daily Reckoning, a contrarian financial newsletter sent via e-mail. Mr. Bonner is the author, with Addison Wiggin, of the international bestseller, Financial Reckoning Day.
Addison Wiggin is the Editorial Director and Publisher of the Daily Reckoning. The newsletter now has more than 500,000 readers in the United States and Great Britain and is translated into French, German, and Spanish. It has received praise from mainstream publications, including Money, Dow Jones' MarketWatch.com, and the New York Times Magazine. Mr. Wiggin is the author of The Demise of the Dollar... and Why It's Great for Your Investments.
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From the publisher
In Empire of Debt, maverick financial writers Bill Bonner and Addison Wiggin provide you with the first in-depth look at how the American character has shifted to accommodate its new imperial role; how we have abandoned the private virtues of personal liberty, economic freedom, and fiscal restraint; and how the government has gained control of public life and the economy.
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| View all 8 comments |
Robin (MSL quote), USA
<2007-06-13 00:00>
In a society already encouraging people to 'buy now' and worry later, this book provides essential diagnosis and prescription for much-needed changes. Both authors discuss very pertinent financial information in a manner which makes the book interesting and readable to the 'average person' I included.
America's spendthrift attitudes are driving the country into debit and making a mockery out of our international standing. How can we even think that we have the right to influence what goes on in the world stage when the USA obviously does not have it's own affairs first in order?
Using their unique brand of sharp insight and witty humor, Bill Bonner and Addison Wiggin argue that big government has created these problems. They clarify that we are actually living in the era of big government today.
However, the authors are much less interested in politics and partisan battles than examining disciplines. Instead of having pointed fingers, they want us to concentrate on the consequences of actions to having created current conditions. Foresight is so little encouraged in most other other books examining current affairs that it is a radical suggestion. |
James (MSL quote), USA
<2007-06-13 00:00>
What a read.
This book is far more readable and entertaining than Friedman's drippy, World is Flat.
The idea that Americans are the most innovative, smart and democratic society in the world (as Friedman contends) is exactly the sophomoric and arrogant line of thinking that will lead to our downfall - if we don't mind our P's and Q's.
We simply cannot continue to sustain this country as we are right now. 71% of our GDP is being artificially propped up by consumer spending. And the average consumer has NO money left to spend!
If you only read one chapter... turn to page 261 and read the section titled "Something Wicked This Way Comes." It will be the most eye-opening 11 pages you read all year. |
A reader (MSL quote), USA
<2007-06-13 00:00>
Once again my favorite financial dynamic duo Bonner and Wiggin team up to expose the raw and gritty undebelly of politics and economics and how they operate in the United States. Using their usual good humor and sarcastic tone, similar to their commentary in the Daily Reckoning, the reader is given the cold hard facts about the true state of the economy. Empire of Debt does this in a no nonsense manner, no fluff here, no handholidng just the facts! Empire of debt is filled with chilling information that wakes the reader up from the hallucination of the belief in economic bliss and visions of a never ending credit and borrowing. The book illustrates a principal that is vital to me, how investors today must think out of the box using things like gold to hedge their portfolios for the coming implosion. Empire of Debt sends a stern message to investors, BEWARE! With any luck on his way out the door to go fishing Mr. Greenspan will leave a copy of this book and a goodbye note for Mr. Bernanke on his first day in office, more importantly I hope Mr. Bernanke reads the book. Cheers for Bonner and Wiggin "Empire of Debt" kept me riveted hoping for the happy ending that never came. |
Kelly (MSL quote), USA
<2007-06-13 00:00>
This book summarizes all of the things you've thought but have never been able to verbalize. Clear, concise, definitely witty writing, the authors have struck gold again (literally and figuratively). Regardless of our views, it is critical to take a step back from the present and view our circumstances against the ruler of history. We must be willing to accept that there may not be something all that special about us, and that perhaps are better days may be behind us. It is only by discerning where we may have gone wrong, applying the lessons of the past, and being honest about where we find ourselves right now that we can possibly hope to restore the glory of the Old Republic.
A true tour de force and an engaging read. Well worth the money for not only your personal enrichment, but to encourage the authors to write again!! |
View all 8 comments |
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