Engineer in St Louis, Missouri, United States
You can like this book for two reasons. One is that it is a great read on the financial challenges this country has with government gone wild and out-of-control. Next, Stockman produces several hours of straight diatribe and invective like you may never get from any thing similar.
I've read many books on economics and this is quality work with many new topics that you could not get from a lesser direct source. This was written by a congressman, cabinet member, investment banker, and a CEO.
Stockman has a great understanding of budgets and money, shows throughout. If you read Creature of Jeckyl Island, this will be very interesting to you.
The author repeats himself over, and over, again. The book probably could have been half the length and been equally informative.
No, this is a tough read and seems to get repetitious. I will definitely listen to select bits again, but not the whole sad story of betrayal.
The sad fact is that it seems to all have the ring of truth. True capitalism has been assassinated by the crony capitalism version favored by government.
Low interest rates have corrupted the price finding mechanism of the market.
At the end of the book, Stockman makes some recommendations as to how the train wreck might be averted. However, everything he proposes leaves you thinking, "Yeah right, that will never happen."
There is a lot of good stuff in this book - but I found it hard to follow.
The excessive use of economic jargon left me lost in many places.
He makes many good points but the delivery is more complex and technical than it needs to be.
Perhaps for those whose who are working in the finance sector it may be Ok, but for an engineer like me - it was pretty hard going for a lot of the time.
I do however agree with his overalll conclusions:'
- Capitalism has been taken captive by some elusive group
- The American tax payer has been robbed greviously of over $700 billion
- America is on the verge of financial collapse.
This book is right up there with "Human Action," "Where the Right Went Wrong" and "Palestine: Peace Not Apartheid" in terms of taking complex subjects and explaining them in ways that reveal their essential truths.
I majored in economics but the macro side was never explained or taught to me in a way that made as much sense as does this book. Mr. Stockman has rendered a great service to both the contemporary audience and future generations in producing this singular work.
Abu Dhabi, UAE
Not read print version so no basis for comparison.
Efficient and comprehensive coverage of a vast topic.
No I have not.
It's all in here!
I chose this book hoping to learn something useful about our economy. Instead I got a book that seems to be analogous of it: disjointed, complex, totally mysterious and above all, resembling an enormous Rube Goldberg machine with levers and buttons that the servants of the moneyed class pull and push like children running rampant on an active submarine. When it sinks, they will all point the finger of blame at someone else. I have long suspected this; Stockman’s book proves it. Or, at least I think it does. I could almost hear other people with his background shouting refutations and angry rebuttals at his interpretation of things.
The greatest genius in the world teaches no one if he will not speak on their level. If portions of this book were accidentally shuffled on an iPod, how would you know? Knowledgeable authors are able to present things in a simple-enough manner to get their points across, while the ignorant ramble on as if they have insight and savvy flowing over. This author handles his subject as if it is so sophisticated that it can only be talked about using a never-ending stream of esotericism; acronyms, abbreviations and similes practically tripping over one another. I know the world of high finance has a language of its own, but,..“If the trumpet makes an uncertain sound, who shall prepare for battle?” One gets the idea he is trying to impress the reader. Mostly he baffles him.
The book really opens your eyes to how corrupt Wall Street is and how the government supports crony capitalism. I have listened to David Stockman on the internet and he doesn't speak the way this book was written. It is almost like an editor or someone took David Stockman's real words and "spruced up" the language to make it seem more important. The problem is they went crazy with it. The editor should be ashamed to put such a good book into print like that.
I had watched Mr. Stockman several times on tv - internet prior to his book and he talked about various problems in the economy in an intellgent manner, but this book is dreadful. He is all over the place - rambling from one thing to another with very little real objective detail. He makes grand and unsuppported statements. After 45 minutes I could not listen to anymore. Disappointing- certainly no "Big Short" (Martin Lewis). If you like Glenn Beck then "Deformation" is for you.
Poorly written - Poorly Presented - Poorly organized
This book would challenge any narrator
The beginning - possibly the middle - most likely the end.