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Bad money : reckless finance, failed…

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

by Kevin Phillips

Other authors: See the other authors section.

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» See also 9 mentions

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Reckless finance, failed politics, and the global crisis of american capitalism
  jhawn | Jul 31, 2017 |
Okay, we're all going to hell in a handbasket. Oil, bad mortgage loans, banking system that is not transparent. The Euro or the Yen will replace the dollar as the currency of choice. Our standard of living is actually falling. Education doesn't really help. Gloom and doom. Maybe it's all correct, but somehow or other I believe USA will muddle through for a little while longer. ( )
1 vote cdeuker | Jul 15, 2011 |
Kevin Phillips has published 13 books relating to the subject of doom of the American financial system and as of this review almost 100 reviewers on Amazon have recommended this book and admitted Phillips shows no solution to the decline of the US economy, largely because we have left agriculture and manufacturing for a plunge into finances as our largest economic section. The rest of the world hates and resents us and now has us under their feet. It could have been entitled, Goodbye American Dreams. What is interesting is that published before the Obama administration took office, predictions are correct.

There are interesting historical references to the decline and fall of earlier empires, Rome Spain, the Netherlands,and of course Britain.

Ah, and now, April 2011 the Republicans are about to close the government down to force the Democrats to make drastic cuts in humanitarian spending and the US is getting involved in yet another mid eastern war. This remains a timely book. ( )
  carterchristian1 | Nov 6, 2010 |
So far, so good. But, where were all of the professional economists who could have warned persons who relied on S&P and Moody's ratings, that they were unreliable?
  BrotherSka | Apr 9, 2009 |
Keven Phillips is a respected and knowledgeable writer on politics and economics since as a young man he predicted the realignment of American politics with the domination of conservative Republicans. In this book he looks at the current global crisis, comparing it against three previous imperial failures, that of Spain, the Dutch, and the British. He goes into lengthy explanations of the financial services sector domination of the U.S. economy and the questionable nature of the wealth it produced and the reasons for the failure of these financial instruments. He also ties in the question of the influence of oil on the world's economy, politics, and wars. If oil production has, or is about, to, peak, the world's economies are in for major and painful restructuring. Moreover, failed U.S. foreign policy, especially the disastrous Iraq war, has increased the speed of the formation of anti-American or post-American power blocks.

An important look at the current financial crisis and the problems that led up to it. ( )
1 vote reannon | Nov 22, 2008 |
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Author nameRoleType of authorWork?Status
Kevin Phillipsprimary authorall editionscalculated
de Vicq de Cumptich, RobertoCover designersecondary authorsome editionsconfirmed
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Gresham's Law . . . a general law or principle concerning the circulation of money . . . [named] after Sir Thomas Gresham, who clearly perceived its truth three centuries ago. This law, briefly expressed, is that bad money drives out good money, but that good money cannot drive out bad money.
-- W. S. Jevons, nineteen-century economist

In a Global free market, there is a variation on Gresham's Law: bad capitalism tends to drive out good.
-- Professor John Gray, False Draw, 1998
To William Russell Philips, our new grandson
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The most worrisome thing about the vulnerability of the U.S. economy circa 2008 is the extent of offical understatement and misstatement -- the preference for minimizing how many problems there are and how interconnected they are. (Preface, The Political Economies of Deception)
For centuries, the importance of harvesttime in the affair of men made August and September months notorious for declarations of war, crop failures, and, eventually, bank crises.
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Amazon.com Product Description (ISBN 0670019070, Hardcover)

In a devastating follow-up to his last bestseller, American Theocracy, Kevin Phillips describes the consequences of our catastrophic economic policies, our mounting debt, our collapsing housing market, our diminishing oil, and the end of American domination of world markets.

(retrieved from Amazon Thu, 12 Mar 2015 18:02:56 -0400)

(see all 2 descriptions)

A survey of the role of America's financial sector in compromising the nation's global future examines the sources of rising debt, high mortgage rates, and increasing oil prices, making sobering predictions about the downfall of America as a world power.… (more)

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