Bad Money: The Inexcusable Failure of American Finance: An Update to Bad Money (A Penguin Group eSpecial from Penguin Books)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. |
From inside the book
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Page xxvi
... currency derivatives ( $ 56 trillion ) with the remainder put into an unallocated category . Then , to assess real - world vulnerability , the BIS set what they called net risk at $ 14.5 trillion , and put a plausible gross credit ...
... currency derivatives ( $ 56 trillion ) with the remainder put into an unallocated category . Then , to assess real - world vulnerability , the BIS set what they called net risk at $ 14.5 trillion , and put a plausible gross credit ...
Page xxxiv
... currency used an obscure federal statute to nullify state laws against predatory lending with respect to national banks . This crimped state - level action against the abuses of subprime lending . Over the last twenty - five years , few ...
... currency used an obscure federal statute to nullify state laws against predatory lending with respect to national banks . This crimped state - level action against the abuses of subprime lending . Over the last twenty - five years , few ...
Page li
... currency of the rescue instead of the vulnerable and blameworthy currency of the underlying implosion . Something similar had happened back in August 2007 , when for four to five weeks a flight to " safety " and U.S. treasury debt ...
... currency of the rescue instead of the vulnerable and blameworthy currency of the underlying implosion . Something similar had happened back in August 2007 , when for four to five weeks a flight to " safety " and U.S. treasury debt ...
Page lxi
... currency reserves , and together these countries count ten times the population of the United States . Most of their governments issue inflation statistics monthly . The data was easy to find , and here are the published annual ...
... currency reserves , and together these countries count ten times the population of the United States . Most of their governments issue inflation statistics monthly . The data was easy to find , and here are the published annual ...
Page lxii
... currency relations were also at work . Parenthetically , in a third of these nations , inflation intensified dur- ing late 2008 because of the depreciation of their local currencies , some of which reflected global panic and some ...
... currency relations were also at work . Parenthetically , in a third of these nations , inflation intensified dur- ing late 2008 because of the depreciation of their local currencies , some of which reflected global panic and some ...
Other editions - View all
Bad Money: The Inexcusable Failure of American Finance: An Update to Bad ... Kevin Phillips No preview available - 2009 |
Bad Money: The Inexcusable Failure of American Finance: An Update to Bad ... Kevin Phillips No preview available - 2009 |
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