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Meltdown: A Look at Why the Economy Tanked and Government Bailouts Will Make Things Worse | [Thomas E. Woods]

Meltdown: A Look at Why the Economy Tanked and Government Bailouts Will Make Things Worse

The media tells us that "deregulation" and "unfettered free markets" have wrecked our economy and will continue to make things worse without a heavy dose of federal regulation. But the real blame lies elsewhere. 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.
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Publisher's Summary

The media tells us that "deregulation" and "unfettered free markets" have wrecked our economy and will continue to make things worse without a heavy dose of federal regulation. But the real blame lies elsewhere.

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

What the Critics Say

"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)

What Members Say

Average Customer Rating

4.2 (402 )
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4.2 (139 )
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Performance
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  •  
    Andrew Los Angeles, CA, United States 04-10-12
    Andrew Los Angeles, CA, United States 04-10-12 Member Since 2011
    ratings
    REVIEWS
    7
    1
    Overall
    Performance
    Story
    "Opinion Piece with Sprinkled Facts"
    Would you recommend this book to a friend? Why or why not?

    Parts of this book were very interesting and it was clearly written by an author who is trying to make it understandable for the masses, but the often blatant rants on current policy make this book not only unbearably boring but almost completely uninformative. The author rehashes the same tired arguments over and over without any new facts or statistics, making his claims difficult to accept. While some of his assertions can be accepted based off pure logic, analogies are not a substitute for facts. More detailed examples with specific facts and figures and less general overlooks of important events.


    Would you ever listen to anything by Thomas E. Woods again?

    Probably not. There are plenty of other books that cover similar subjects in a much better manner.


    What does Alan Sklar bring to the story that you wouldn’t experience if you just read the book?

    The narrator's voice is somewhat overdramatic. It is appropriate for the content of the story, but can sometimes be distracting with how much it plays up even the most mundane of subjects. The narrator is not a bad reader, but his style just isn't to my taste.


    Was Meltdown worth the listening time?

    Not really. There are plenty of other books in my library from which I would have learned more.


    Any additional comments?

    None.

    0 of 2 people found this review helpful
  •  
    Mr. Ronald B. Blank 01-21-12 Listener Since 2006
    HELPFUL VOTES
    8
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    7
    3
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    Story
    "You can't always know what you're buying"
    This book wasn???t for you, but who do you think might enjoy it more?

    Someone who would like to see Ron Paul as the President. Ron Paul wrote the forward, thus setting up the rest of the book. He pretends to give the author the credit for the book but it is a thinly disguised Ron Paul speech. I didn't know much about Ron Paul before but know I feel I know all I need to know.


    Has Meltdown turned you off from other books in this genre?

    I don't know. I will still look for a book about economics that does not have a personal ax to grind.


    How did the narrator detract from the book?

    He is selling a political point of view. I only have to turn on the TV to get that.


    What reaction did this book spark in you? Anger, sadness, disappointment?

    Disappointment mostly.


    Any additional comments?

    I was looking for an open minded explanation and discussion or our current economics, not a political tirade about all the mistakes other politicians and economists have made. If I had this book for a college text I would drop the class, even if I agreed with the text because it hjas only one narrow viewpoint. The other side does not get to speak, and there are no detailed explanations of how we got here. There is only criticism.

    0 of 2 people found this review helpful
  •  
    Ronald D Vicksburg, MI, USA 09-01-09
    Ronald D Vicksburg, MI, USA 09-01-09 Member Since 2007
    HELPFUL VOTES
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    "Disappointed"

    Seemed to be more opinion than fact. The author frequently touts the explanatory value of what he calls "Austrian Business Cycle Theory" without providing any real evidence. In some cases the author's position seems to be influenced by a dislike for and/or jealousy of other economists.

    1 of 6 people found this review helpful
  •  
    Michael East Peoria, IL, United States 07-13-09
    Michael East Peoria, IL, United States 07-13-09 Member Since 2014
    HELPFUL VOTES
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    "Maybe, Maybe Not"

    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.

    4 of 21 people found this review helpful
  •  
    Christopher SYLMAR, CA, United States 03-10-09
    Christopher SYLMAR, CA, United States 03-10-09 Member Since 2002
    HELPFUL VOTES
    35
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    "If only I could give it ZERO Stars!"

    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.

    13 of 79 people found this review helpful

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