Boomerang: Travels In The New Third World by Michael LewisBoomerang: Travels In The New Third World by Michael Lewissticker-burst

Boomerang: Travels In The New Third World

byMichael Lewis

Hardcover | October 4, 2011

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The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge.

Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a pinata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German; the Irish wanted to stop being Irish.

Michael Lewis's investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency: oh, those foolish foreigners. But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations.
Michael Lewis is the best-selling author of Liar’s Poker, Moneyball, The Blind Side, The Big Short, and The Undoing Project. He lives in Berkeley, California, with his wife and three children.
Title:Boomerang: Travels In The New Third WorldFormat:HardcoverDimensions:288 pages, 8.54 × 5.74 × 0.94 inPublished:October 4, 2011Publisher:WW NortonLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0393081818

ISBN - 13:9780393081817


Rated 5 out of 5 by from Easy to understand Great read on the Eurozone crisis that anyone could understand.
Date published: 2018-09-17
Rated 4 out of 5 by from Good Read Enjoyed this read, found it insightful providing case studies of recent economic collapses.
Date published: 2018-05-02
Rated 5 out of 5 by from interesting read! super interesting read! I've liked everything I've read from Michael Lewis so far. #plumreview
Date published: 2018-01-08
Rated 4 out of 5 by from Great book Cool and interesting at the same time.
Date published: 2017-12-29
Rated 4 out of 5 by from Interesting Read Very interesting and quick read packed with information.
Date published: 2017-10-20
Rated 5 out of 5 by from great read All of Lewis' books are great, but this one is especially nice. Its exciting and short, gets right to the point and some interesting perspectives in looking at how things turned out in Iceland and Greece.
Date published: 2017-03-14
Rated 4 out of 5 by from Credit crisis This text provides a strong account of the credit crisis and the impact on economies around the world as they jumped on this bandwagon. The impact on some countries like Iceland was harrowing and this account doesn't leave you wanting to provide much sympathy to those that perpetrated this financial disaster.
Date published: 2017-02-10
Rated 3 out of 5 by from cool interesting but im not american!
Date published: 2017-02-03
Rated 5 out of 5 by from Snapshots of financial collapses A great snapshot of the collapse of national budgets in the wake of the financial meltdown driven by the U.S. subprime mortgage fiasco. It's really a warning that the dream of ever increasing government spending and services is the road to disaster. Especially chilling is the example of US cities unable on the verge of bankruptcy -- with services hollowed out so they can pay pensions to former workers. One has reached the point that the only service the offer is pensions to former staff. #plumreview
Date published: 2016-11-18
Rated 5 out of 5 by from Boomerang returns dividends on time invested Bestselling author Michael Lewis delivers again with this series of themed travelogues about the financial crisis and originally published in Vanity Fair. Each of the articles stands well on its own, but in series they manage to bring an additional element, a much broader perspective on the financial crisis and on human nature. Lewis travels to the major hot-spots: Iceland, Greece, Ireland, Germany and the US, noting the similarities and the differences in each of their situations, but mostly letting the individual characters who populate his essays tell the stories. Descriptions of people are rich, humorous, playful and cutting, but never mean spirited - the kind of descriptions your friends might use at your roast. Descriptions of countries’ national characters and of specific places are equally pithy; “it’s the sort of place bankers stay because they think it’s where the artists stay.” As expected, bank leadership, politicians and regulators fare poorly in Lewis’ crosshairs, and although they play small walk-on parts, investment banks such as Merrill Lynch come across as morally bankrupt and duplicitous, far worse than their aforementioned dimwitted but greedy co-conspirators. Lewis is finance literature’s equivalent of television’s Jon Stewart, calling all out on their motives, their revisionist explanations, and their mistakes. Ultimately, though, Lewis settles on the root cause - it’s us; it’s human nature and short term thinking. One of his interviewees sums it up best when he says about the virtual bankruptcy of his city, “I think we’ve suffered from a series of mass delusions.” As much as Charles Kindleberger’s excellent book Manias, Panics and Crashes offers a deep retrospective of the evidence of our foibles, Boomerang offers finely drawn characters who give insight into the human behaviour that inevitably leads to the crashes. A much different perspective, much more enjoyable to read, but no less effective. (Margaret Atwood’s “Payback” is an equally excellent and alternative take). As a former bond trader himself, Lewis has an easy grasp of the issues, the interests and the conflicts, and he segues from character to character and setting to setting to weave his story in the most entertaining and engaging of ways. These strengths set Lewis apart from most financial writers who concentrate on a chronological recounting of facts, with character development playing second fiddle. In all of the best ways in these short articles, Lewis is like Charles Dickens with a sketchbook rather than the vast canvas of a full length novel. You really should read this book. You will be entertained, you will learn something, and whatever your political or economic stripe, you will pause for some self reflection, because in the end the financial crisis boomerangs back to us and to human nature.
Date published: 2011-11-13

Editorial Reviews

“Michael Lewis possesses the rare storyteller’s ability to make virtually any subject both lucid and compelling. . . . Combining his easy familiarity with finance and the talents of a travel writer, Mr. Lewis sets off in these pages to give the reader a guided tour through some of the disparate places hard hit by the fiscal tsunami of 2008, like Greece, Iceland and Ireland, tracing how very different people for very different reasons gorged on the cheap credit available in the prelude to that disaster. The book — based on articles Mr. Lewis wrote for magazine — is a companion piece of sorts to , his bestselling 2010 book about the fiscal crisis. . . . Mr. Lewis’s ability to find people who can see what is obvious to others only in retrospect or who somehow embody something larger going on in the financial world is uncanny. And in this book he weaves their stories into a sharp-edged narrative that leaves readers with a visceral understanding of the fiscal recklessness that lies behind today’s headlines about Europe’s growing debt problems and the risk of contagion they now pose to the world.” — Michiko Kakutani (New York Times)“Lewis’s rare gift as a guide through the world of credit default swaps and sovereign debt doesn’t come simply from his deep understanding of how the global financial system works . . . also his skill as a storyteller, his ability to tell the larger tale through fascinating human stories of greed, excess, and self-delusion.” — Chuck Leddy (Boston Globe)“[Lewis’s] explanations of thorny financial processes are surprisingly compelling, his characters entertaining.” — Jessica Loudis (BookForum)