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Bad money : reckless finance, failed politics, and the global crisis of American capitalism

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 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."@en
  • "From the Publisher: The bestselling author reveals how the U.S. financial sector has hijacked our economy and put America's global future at risk. In American Theocracy, Kevin Phillips warned us of the perilous interaction of debt, financial recklessness, and the increasing cost of scarce oil. The current housing and mortgage debacle is proof once more of Phillips's prescience, and only the first harbinger of a national crisis. In Bad Money, Phillips describes the consequences of our misguided economic policies, our mounting debt, our collapsing housing market, our threatened oil, and the end of American domination of world markets. America's current challenges (and failures) run striking parallels to the decline of previous leading world economic powers-especially the Dutch and British. Global overreach, worn-out politics, excessive debt, and exhausted energy regimes are all chilling signals that the United States is crumbling as the world superpower. "Bad money" refers to a new phenomenon in wayward mega finance-the emergence of a U.S. economy that is globally dependent and dominated by hubris-driven financial services. Also "bad" are the risk miscalculations and strategic abusesmulti trilliontrillion-dollar products such as asset-backed securities and the lure of buccaneering vehicles like hedge funds. Finally, the U.S. dollar has been turned into bad money as it has weakened and become vulnerable to the world's other currencies. In all these ways, "bad" finance has failed the American people and pointed U.S. capitalism toward a global crisis. Bad Money is the perfect follow-up to Phillips's last book, whose dire warnings are now proving frighteningly accurate."

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  • "Electronic books"@en

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  • "Bad money : reckless finance, failed politics, and the global crisis of American capitalism"
  • "Bad money : reckless finance, failed politics, and the global crisis of American capitalism"@en
  • "Bad money reckless finance, failed politics, and the global crisis of American capitalism"@en
  • "Bad money : reckless finance, failed politics, and the global crisis of american capitalism ; [updated with a new preface and afterword]"
  • "Bad money"
  • "Bad money reckless finance, failed politics, and the global crisis ofamerican capitalism"@en
  • "Bad money : reckless finance, failed politics, and the global crisis of American capitalism ; [with a new preface and a new afterword]"
  • "Bad money : reckless finance, failed politics, and the global crisis of American capitalism ; [with a new preface and afterword]"
  • "Bad money : reckless finance, failed politics, and the global crisis of american capitalism"

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