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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
charge�promising to make the entire world "safe for
democracy!" Never has such a bold plan been put into
action�that 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 Wiggin�the team that brought you the
international bestseller Financial Reckoning Day�reunite 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 economics�it 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.
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