Bad Money: The Inexcusable Failure Of American Finance: An Update To Bad Money (a Penguin Group…

Paperback | March 31, 2009

byKevin Phillips

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In his acclaimed book American Theocracy, Kevin Phillips warned of the perilous interaction of debt, financial recklessness, and the spiking cost (and growing scarcity) of oil- warnings that are proving to be frighteningly accurate. Now, in his most significant and timely book yet, Phillips takes the full measure of this crisis. They are a part of what he calls "bad money"- not just the depreciated dollar, but also the dangerous attitudes and the flawed products of wayward mega-finance. His devastating conclusion: In its hubris, the financial sector has hijacked the American economy and put our very global future at risk-and it may be too late to stop it.

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In his acclaimed book American Theocracy, Kevin Phillips warned of the perilous interaction of debt, financial recklessness, and the spiking cost (and growing scarcity) of oil- warnings that are proving to be frighteningly accurate. Now, in his most significant and timely book yet, Phillips takes the full measure of this crisis. They a...

Kevin Phillips has been a political and economic commentator for more than three decades. A former White House strategist, he is a regular contributor to the Los Angeles Times and NPR and writes for Harper’s and Time. His books include New York Times bestsellers The Politics of Rich and Poor and Wealth and Democracy.

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Format:PaperbackDimensions:352 pages, 8.5 × 5.43 × 0.75 inPublished:March 31, 2009Publisher:Penguin Publishing GroupLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0143114808

ISBN - 13:9780143114802

Appropriate for ages: 18 - 18

Customer Reviews of Bad Money: The Inexcusable Failure Of American Finance: An Update To Bad Money (a Penguin Group Especial From

Reviews

Rated 2 out of 5 by from The title is a little misleading Where to start with this book? It took a while to get through, as it is a disjointed effort at best. First off, the book's main thesis is more centred around Mr. Phillip's belief that the US 'empire' is in permanent decline, than any serious attempt to discuss the 'reckless finance' espoused on the cover. He spends countless pages attempting to parallel the current US situation with the military/ economic declines of Spain, Holland and Britain. That said, Mr. Phillips does do a credible job of illuminating most of the relevant issues; although even though he manages to lay out much of the facts, almost invariably he draws his conclusions from conjecture and his personal biases, rather than from the very facts he's brought forth. As confusing as that is, Mr. Phillip's ultimate failing is his comic biases against the Bush family, Citibank and people with religious beliefs. In the end, I doubt many that share his views would have muddled through his diatribe; and those that would manage are unlikely to be persuaded by his arguments.
Date published: 2009-09-07

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Editorial Reviews

"A harrowing picture of national danger that no American reader will welcome, but that none should ignore. . . . Frighteningly persuasive."
-Alan Brinkley, The New York Times

"An indispensable presentation of the case against things as they are."
-Time

"Sobering . . . positively alarming."
-Los Angeles Times