It was an enjoyable and very interesting listen. This book was made up of some interesting facts and observations regarding behaviors and cultural differences between countries.I think the book was missing a few conclusions or even bring some thoughts to an end. I felt the book opened up a whole lot of questions without really giving some kind of an answer.
I would have recommended to friends until the author went into great detail about German and their alleged feces fascination. Trying to make some logic about why Germans got into sub-prime...
Entertaining but hardly definitive. Mr. Lewis jumps to very broad conclusions about certain nationalities based on anecdotal evidence. His comments on the excretory hangups of Germans, for instance, are superficial and gratuitous - to say nothing of somewhat disgusting. The ending of the book is parfticularly weak. Despite these flaws, the narration is very good, and it is an entertaining listen overall.
After the Blind Side and the Big Short, I became a Michael Lewis fan. I got Boomerang immediately after finishing Blind Side. Maybe I knew a little too much about the topics included in Boomerang. They aren't as compelling and don't pull together as much of a story as his other books.
Boomerang is still worth the listening time, and I'll try another Michael Lewis book when it comes out.
This was a tedious deconstruction of all things Icelandic, German etc etc. I have always been delighted by Michael Lewis's books in the past. This was tedious, repetitious and petty.
The narrator also was awful.
See above. Go back to his original style and get rid of the awful narrator.
This book should not have been published.
This book, like Moneyball, was an entertaining read. Early in the book, when Lewis claimed that the conversion from euros to dollars was to simply multiply the euro amount by 100 it became difficult to acccept any of the other analysis in the book. This was not just an oversite, the ratio was used throughout the book and lead the reader to some astonishing numbers and conclusions. I continued to read the book, but more for the story and perhaps for the conclusion than for insight. I think Lewis presents himself as a story teller and not a world class economist, but this error was a little over the top.
You really have to like the story. Who would not root for the cod fisherman one day who became an investment banker the next day. Perhaps even better, how the Greek Church scammed the Greek government.
Facts, ratios and analysis aside, the book resembled Moneyball, a few assertions leading to grand conclusions. Look at it as entertaining and little more and you'll have an enjoyable read.
LIke Malcolm Gladwell, this book seemed like a bunch of magazine articles put together. Interesting topics for sure, but much less of a book that it could have been.
This is information that we all need to know.
This was written in a way that follows the money around the world. He interviews with people who influenced it's course and problems with our world wide economy from Subprime - Iceland - Greece, the entire Euro and even Ireland. Engrossing to say the least!
He has a stable voice with an edge of humor.
Following the reason Bass is such reliable a source; I was about sick when he interviews the Texas Hedgefunder and quotes his advice to buy hard assests like gold, nickels by the millions and firearms.
As always Michael Lewis has some interesting observations about societies. Entertaining read. This book, I feel, is definately worth the cost.
I’m very happy to have this eye-opening knowledge. The entertainment value is the strange incompetence and stupidity of people. But it is also depressing. Terrible things are happening to ordinary people. I loved hearing it as an audiobook, educating me while I was doing other things. Reading this as a physical book might be less desirable for me. In the book the author describes himself as a “financial disaster tourist.” He travels to and writes about five areas: Iceland, Greece, Ireland, Germany, and California. He’s an excellent writer. He makes nonfiction interesting. An example of his thinking follows. In Ireland homeowners can’t walk away from their homes like in the U.S. If the bank forecloses and takes the property, the homeowner still owes the money. He can’t declare bankruptcy to get away from debt. I liked the author’s phrase “In their rush to freedom, the Irish built their own prisons.”
I would have liked more thoughts about the future - possibly having different experts give opinions. I wanted more about “what might happen.” The Vallejo, California, story was an excellent example of what can happen, but parts of that were not clear enough. For example, he states “the city had 1,013 claimants with half a billion dollars in claims but only $6 million to dole out to them.” “In August 2011, a judge approved the bankruptcy plan for Vallejo. Vallejo’s creditors ended up with 5 cents on the dollar, public employees with something like 20 and 30 cents on the dollar.” I have a question. Assuming Vallejo dispersed all the money at once today (for example the $6 million) how much will go to “retired workers” (police, firefighters, teachers, and others)? Assume a retired person has $30,000 coming to them each year for the rest of their life. Assume that has a present value of $500,000. Do they get $100,000 today (I’m using 20%) and nothing else? Or is the $100,000 put into an annuity somewhere which would pay them $6,000 per year? Or do they get $6,000 every year from the city as long as there is money? I wish the author would have clarified that.
I understand this entire book was published in a series of articles for Vanity Fair magazine. All but the Iceland portion is available to read free online - at this time.
NARRATOR: Dylan Baker was excellent.
GENRE: financial nonfiction.
Mischaracterization of cultures.
Author seems to be buried in right wing spin, and has not yet questioned it.
Austerity budgets lead to Much Lower Economic growth.