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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... Peak Oil : A Potential Pivot of the 2010s 120 6 The Politics of Evasion : Debt , Finance , and Oil 154 7 The Global Crisis of American Capitalism 179 2882 1 29 69 Afterword : Speculative Capitalism Endangered : The Domestic and Global ...
... Peak Oil : A Potential Pivot of the 2010s 120 6 The Politics of Evasion : Debt , Finance , and Oil 154 7 The Global Crisis of American Capitalism 179 2882 1 29 69 Afterword : Speculative Capitalism Endangered : The Domestic and Global ...
Page 14
... petroleum - intensive , and to match the absolute peak price of a quarter century earlier , not just a monthly average , a barrel would have to reach $ 100 or so in current dollars . Nevertheless , if housing , mortgage , and credit ...
... petroleum - intensive , and to match the absolute peak price of a quarter century earlier , not just a monthly average , a barrel would have to reach $ 100 or so in current dollars . Nevertheless , if housing , mortgage , and credit ...
Page 16
... oil in 1998 and $ 25 oil in 2003 , the expert consensus was that the era of ... peak and unable to support demand . Absent a global recession , world demand ... oil analyst , dramatized the simultaneous shortfall in new discoveries : " In ...
... oil in 1998 and $ 25 oil in 2003 , the expert consensus was that the era of ... peak and unable to support demand . Absent a global recession , world demand ... oil analyst , dramatized the simultaneous shortfall in new discoveries : " In ...
Page 17
... peak oil have won . " 21 No one doubted that more fuel could be had from ultradeep drilling in the Gulf of Mexico and the South Atlantic ; from submerged Arctic mountain ranges claimed by nearby Russia ; from the western Canadian oil ...
... peak oil have won . " 21 No one doubted that more fuel could be had from ultradeep drilling in the Gulf of Mexico and the South Atlantic ; from submerged Arctic mountain ranges claimed by nearby Russia ; from the western Canadian oil ...
Page 22
... peak , and espe- cially with their financial aspects . By no means is every upswing in busi- ness excessive ... oil demand , if only for a while . " The hints of another watershed snowballed between 2005 and 2007 - inadequate world oil and ...
... peak , and espe- cially with their financial aspects . By no means is every upswing in busi- ness excessive ... oil demand , if only for a while . " The hints of another watershed snowballed between 2005 and 2007 - inadequate world oil and ...
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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