If you read the title, you got all of the information this book has to offer. The author provides only the most basic of analysis, and even for this cites others, specifically Rogoff, over and over again. He takes the basic premise that is in the title and repeats it over and over and over again, using anecdotal stories, not facts, figures, or data. I really dislike it when authors do this, because it screams that they wanted the book revenue, or to get their name out there, in other words writing the book was about them, not about the person who was going to read it. I agree with the author's premise, but lets face it, so do millions of others, and this is written about constantly on the internet, and in the non-mainstream financial press. To make this book compelling the author would need to cite something new, new data, or a new way of looking at the old data. He does none of this. I turned it off half way through. Spend your money elsewhere.
You will be better able to make your own financial and even political choices. You will understand how global debt/leverage creates instability, and how that affects national and global economy.
Both scholarly and readable, this is a thorough, practical report in very palatable form, and in terms understandable by the curious layman.
The book is a perfectly clear description and explaination of the effect of debt/leverage on financial/economic dynamics, on national and global scales, and in historical context. Its theses are extremely well explained and supported.
Overall the book was informative for someone who has never read or studied anything about economics. It certainly seemed to present an eyes open view of financial realities to come. I do have a couple of criticisms, one cynical and one national.
First, it appears that the USA, Japan, Great Britain and most of the world are doomed ... probably ... almost certainly, but it's OK because in a few generations we'll be able to look back with fondness on the, as yet, imminent tough times. Meanwhile, exciting technological advances will anesthetize us into thinking the pain isn't so bad.
Second, I find it rather amazing, that even though Canada is the largest or second largest trading partner with the USA, there was more in this book about the economies of Latvia & Estonia than us in the frozen wasteland to America's north. If like me, you are a Canadian, let me sum up; gather as many Loonies (that's Cdn$, not whacko's) as possible as opposed to other currencies and, the Canadian housing bubble hasn't burst, yet.
I don't regret using a credit for this audiobook because I did learn a lot about an important, albeit dry subject. If you choose this for your own library, do it for the education not the excitement and if you want to know what's in store for us polite, igloo living schmucks north of 49 you better ask Prime Minister Harper. I hear he's an economist too.
its past the time of this books audience. however it has some gems of economic knowledge. being optimistic they think grand of the future some of which is now and the reality much like project 2000 it was long on hope and very short on recognizing the economic will to hold back inovation.
Must read to any one exposed to financial markets. Looking forward to more books from this author.
Yes. The audiobook provides important insights to the state of the world.
I recommend the book to all.
I give this book a 5 star rating because it is a great book and it deserves it. In my case I not a person will great knowledge of the economic scenery around the world and in the USA. He uses many terms that I was not familiar which had me search on the web. The book allowed me how integrated the economies around the world affect and depend of she other. I would recommend this book with the comment that it may require some research to understand in depth. I benefited from this book and I'm more aware of what is going on with the USA economy and how it is affected by China, India and Europe.