In Meltdown, best-selling author Thomas E. Woods, Jr., unearths the real causes behind the collapse of housing values and the stock market---and it turns out the culprits reside more in Washington than on Wall Street. And the trillions of dollars in federal bailouts? Our politicians' ham-handed attempts to fix the problems they themselves created will only make things much worse.
Woods, a senior fellow at the Ludwig von Mises Institute and winner of the 2006 Templeton Enterprise Award, busts the media myths and government spin. He explains how government intervention in the economy---from the Democratic hobby horse called Fannie Mae to affirmative action programs like the Community Redevelopment Act---actually caused the housing bubble. Most important, Woods, author of the New York Times best seller The Politically Incorrect Guide to American History, traces this most recent boom-and-bust---and all such booms and busts of the past century---back to one of the most revered government institutions of all: the Federal Reserve System, which allows busybody bureaucrats and ambitious politicians to pull the strings of our financial sector and manipulate the value of the very money we use.
Meltdown, which features a foreword by Congressman Ron Paul (R - Texas), also provides a timely history lesson to counter the current clamor for a new New Deal. The Great Depression, Woods demonstrates, was only as deep and as long as it was because of the government interventions by Herbert Hoover (no free-market capitalist, despite what your high-school history teacher may have taught you) and Franklin D. Roosevelt (no savior of the American economy, in spite of what the mainstream media says). If you want to understand what caused the fi...
©2009 Thomas E. Woods, Jr.; (P)2009 Tantor
"Provocative, well-written, and deserves to be read." (Catholic Historical Review)
"Well written, well researched, and the thesis put forth is well argued." (Journal of American History)
If unregulated capatilism works so well...well...it doesn't, that's the problem. Perhaps we should minimize government involvement, but government involvment to some extent is required. Just read Upton Sinclair's "The Jungle". And the current "Great Reccession" and the fall of several companies that were too big to fail was caused by unregulated credit default swaps, etc., and the imaginary financial markets that produced nothing and did nothing that have exsisted for the past 8 years. Anyone who denies this is a fool. Listen to this book, but know that it is crap.
What a crock of drivel!
Good grief, the narrator doesn't even attemmpt to make it sound anything other than partisan hogwash. Oh, that nasty government! How dare those poor people try to buy homes?
About the only thing we can agree on is that the current policies of blindly paying off Wall Street, while selling our manufacturing base down the river, is wrong.
If you're trying to undertsand the current crisis, this is not the the place to start.
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