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In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future. Soros, whose breadth of experience in financial markets is unrivaled, places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity. "This is the worst financial crisis since the 1930s," writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centers around the world. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for our nation and the world.

Throughout the violent financial disruptions of the past several years, three men have stood out as beacons of judgment and wisdom: Warren Buffett, George Soros, and Paul Volcker. Though their experiences and styles vary-Buffett is the canny stock market investor; Soros is the reader of shifting global tides in trade and currencies; and Volcker is the regulator and governor, sheriff and clean-up crew-they have very much in common.

All three men have more than fifty years of deep involvement in markets. All are skeptical of Wall Street frenzies. They believe that markets tend to be right, but usually only over the medium term. They have seen too many cycles of herd-driven, emotion-riding booms and busts to make their views hostage to the sweeping and simplistic assumptions of "efficient-markets" models.

With the benefit of his own deep understanding of markets and finance, Morris brilliantly analyzes the records of these men, distilling their wisdom and experience-and argues for the importance of consistent values in navigating the treacherous terrain of today's globalized world.

Long known as "the world''s only private citizen with a foreign policy," George Soros combines his razor-sharp sense of economic trends with his passionate advocacy for open societies and decency in world politics to come up with a workable, and severely critical, analysis of the Bush administration''s overreaching, militaristic foreign policy.

Soros believes that this administration''s plans abroad come from the same sort of "bubble" psychology that afflicted our markets in the late 1990s. They have used a real fact, our overwhelming military supremacy, to create a deluded worldview, that might makes right and that "you''re either with us or against us," in the same way that the recent boom used a real fact, the growth in technology, to lead to a delusion, the "new economy."

Like the best of the books that have responded quickly to world events, The Bubble of American Supremacy has a clear, intriguing, comprehensive thesis that makes necessary, and compelling, order of our seemingly disordered world.