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The Rise Of An Epic Financial Crisis
Wiley
November 2005
384 pages
ISBN: 0471739022
Hardcover
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Self-Help | Non-Fiction
There was a time when being a "conservative" meant you were a stodgy old curmudgeon; an isolationist, closed to new ideas. Now, the conservatives are leading the chargeΓ―ΒΏΒ½promising to make the entire world "safe for democracy!" Never has such a bold plan been put into actionΓ―ΒΏΒ½that is, not since the "liberal" democrat Woodrow Wilson coined the phrase nearly a century ago! How could such a shift in the politics and economy of the United States have come about in a span of less than 100 years? In Empire of Debt, maverick financial writers Bill Bonner and Addison WigginΓ―ΒΏΒ½the team that brought you the international bestseller Financial Reckoning DayΓ―ΒΏΒ½reunite to provide you with the first in-depth look at how the American character has shifted to accommodate its new imperial role; how we have abandoned the private virtues of personal liberty, economic freedom, and fiscal restraint; and how the "guv'mint" has gained control of public life and the economy. The result has been, among other horrors, unfettered deficit spending, gluttonous consumption, and fearless military adventurism. All the while, the nation slouches ever more precipitously towards bankruptcy. Empire of Debt is a wry, witty, and erudite look at the state of the empire. To the delight of many, Bonner and Wiggin do not spare the political icons of either national political party. Casting a wide-angle lens through history and into the next century, the authors suggest a "great empire" is to the world of geopolitics what a great bubble is to the world of economicsΓ―ΒΏΒ½it is attractive at first but will eventually end in catastrophe. Unfortunately for some, the Empire of Debt will be received like an unwelcome guest who intends to spend the night. But for those who open the door to the often uproarious, but always sensible, wisdom within these pages, the future will be bright, indeed. "They've done it again!" says financial commentator Eric Fry, "Once more, Bonner and Wiggin have weaved together the disparate worlds of politics, economics, and personal finance to produce an enormously entertaining snapshot of modern American life." We entreat you to sit back, relax, and drink in the splendor that is America's Empire of Debt.
 Media BuzzCBS Sunday Morning - February 26, 2006
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