 | Summaries and Customer Reviews are supplied by Amazon.com | An updated look at the United States' precarious position given the recent financial turmoil In The New Empire of Debt, financial writers Bill Bonner and Addison Wiggin return to reveal how the financial crisis that has plagued the United States will soon bring an end to this once great empire. Throughout the book, the authors offer an updated look at the United States' precarious position given the recent financial turmoil, and discuss how government control of the economy and financial system-combined with unfettered deficit spending and gluttonous consumption-has ravaged the business environment, devastated consumer confidence, and pushed the global economy to the brink. Along the way, Bonner and Wiggin cast a wide angle lens that looks back in history and ahead to the coming century: showing how dramatic changes in the economic power of the United States will inevitably impact every American. - Reveals the financial realities the United States currently faces and what the ultimate outcome may be
- Weaves together the worlds of politics, economics, and personal finance in a way that underscores the severity of the situation
- Addresses the events leading up to the implosion of the U.S. financial system
- Looks ahead to help you avoid the pitfalls presented by a weaker United States
- Other titles by Bonner: Empire of Debt, Financial Reckoning Day, and Mobs, Messiahs, and Markets
- Other titles by Wiggin: I.O.U.S.A., Demise of the Dollar, and Financial Reckoning Day
The United States is heading down a difficult path. The New Empire of Debt clearly shows how this has happened and discusses what you can do to overcome the financial challenges that will arise as the situation deteriorates. |
Average Customer Rating:   The New Empire of Debt: The Rise and Fall of an Epic Financial Bubble Good summary of the financial problems currently facing the USA and of the Imperial role that this country has assumed in the World since the end of WW2.
The statistics provided, however, seem a bit biased as they do not seem to be related to the growth of GDP.
A useful sequel would be a detailed review of the stakes of Japan and China in this situtation; OK they have lots of US financial assets and they can dump the US dollar, but if they do, won't they also dump their own export oriented economies?
Fundamentally,aren't current economic problems simply due to the fact that the share of labour income as a proportion of total production is constantly declining in the US and elsewhere? US consumers are too indebted to consume, Asian consumers are too poor to do so and The New Empire of Debt: The Rise and Fall of an Epic Financial Bubblenot used to do so.
The fatalism displayed in this book is also depressing; the nature of humankind is to try to improve its environment, not let a marketplace (institutional framework) which produces unsatisfactory results function as it usually does. if only our politicians would read it. very well written, plenty of humour splashed in amongst the facts. Sure wish we could get our political "leaders" to read it. Offers some frightening forecasts we all need to consider The second updated edition of William Bonner and Addison Wiggin's THE NEW EMPIRE OF DEBT: THE RISE AND FALL OF AN EPIC FINANCIAL BUBBLE returns to the original treatise and prediction to reveal how the financial bubble plaguing the U.S. will soon end this society. From the shaky position of the U.S. to how government control has ravaged the business sector, THE NEW EMPIRE OF DEBT offers some frightening forecasts we all need to consider. Analytically Brilliantt, Politically Destructive, Historically Superb. I read on page 182...5th. paragraph..."...:a remarkable combination of self- delusion and self-satisfaction headed for self-destruction." I was immediately reminded of Sir Winston's timeless quotation regarding his analysis of the former Soviet Union.
The above reference to the book being Politically Destructive relates to the monumental and endless bungling of those educated morons in D.C., with one exception: Dr. Ron Paul.
Alas, I am merely a little more than half way through the book---page 191---therfore, I cannot offer a greater insight, but I know that it will be fscinating, entertaining, and POLITICALLY DESTRUCTIVE. THE NEW EMPIRE OF DEBT I HAVE FOLLOWED THE AUTHORS FOR SEVERAL YEARS READING THEIR WEBSITE DAILY. SUBSEQUENTLY, I HAVE READ ALL THEIR BOOKS.
AS AN INVESTOR, I APPRECIATED THEIR EARLY WARNINGS REGARDING THE HOUSING/DEBT CRISIS. THEY HAVE HELPED ME FORMULTATE MY MACROECONOMIC POSITION.
I WISH THIS BOOK WAS REQUIRED READING FOR ALL AMERICANS. OUR IGNORANCE OF ECONOMIC HISTORY AND THE CONSEQUENCES OF OUR MISGUDED POLICIES IS A SUBJECT TOO FEW AMERICANS ARE WILLING TO UNDERSTAND, ESPECIALLY OUR ELECTED LEADERS.
"NONE ARE SO BLIND AS THISE WHO REFUSE TO SEE". THIS BOOK SHOULD OPEN SOME EYES AND MINDS.
JIM MCCURRY
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