Bad Money: Reckless Finance, Failed Politics, and the Global Cri... Cover Art

Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism (Paperback)

By: Kevin Phillips (Author)


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Review

"What is amazing is how lucid Phillips manages to be in 200 or so pages that were assembled on very short notice. The credit crunch that paralyzed Wall Street last August is the catalyst, but Phillips is up-to-date, economically speaking, right through the end of 2007. And he's lucky, even if the country isn't -- nothing that has happened since the new year began disproves Phillips' main theme, which is that Wall Street's chickens have come home to roost. The opposite is true -- every day brings further evidence that flaws in the foundation on which the United States is constructed are cracking wide open."

"When you take into account how often [Phillips] has been right in the past, this 14th volume in his continuing commentary on the American condition becomes positively alarming....The fact that much of BAD MONEY feels ripped from this morning's headlines adds to its sense of urgent relevance."

"Philips is an entertaining writer. His prose is full of jabs and one-two combinations that keep things moving briskly. "

Annotation

In BAD MONEY, political commentator Kevin Phillips presents a gloomy forecast for America's future, both economically and politically, as he rings the warning bell on issues such as our growing debt, our dependence on oil, and our inept financial and political systems. The ever-prescient Phillips first discussed such issues in earlier works such as AMERICAN DYNASTY and AMERICAN THEOCRACY. As time has passed, many of Phillips's concerns have been made clearer, and his tone is more urgent here. Phillips thinks both political parties are unwilling to call for the painful measures that need to be taken to stabilize our economy and shore up our position in the world. Phillips was ahead of the curve when he embarked on his earlier books, and many of the things he warned about are in today's headlines. His writing stands out for its trenchant analysis of current events, and for his learned application of the lessons of history.



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