Bad Money: The Inexcusable Failure of American Finance: An Update to Bad Money (A Penguin Group eSpecial from Penguin Books)

Bad Money: The Inexcusable Failure of American Finance: An Update to Bad Money (A Penguin Group eSpecial from Penguin Books)

In his acclaimed book American Theocracy , Kevin Phillips warned of the perilous interaction of debt, financial recklessness, and the spiking cost (and growing scarcity) of oil- warnings that are proving to be frighteningly accurate. Now, in his most significant and timely book yet, Phillips takes the full measure of this crisis. They are a part of what he calls "bad money"- not just the depreciated dollar, but also the dangerous attitudes and the flawed products of wayward mega-finance. His devastating conclusion: In its hubris, the financial sector has hijacked the American economy and put our very global future at risk-and it may be too late to stop it. "A harrowing picture of national danger that no American reader will welcome, but that none should ignore. . . . Frighteningly persuasive." -Alan Brinkley, The New York Times "An indispensable presentation of the case against things as they are." - Time "Sobering . . . positively alarming." - Los Angeles Times Kevin Phillips has been a political and economic commentator for more than three decades. A former White House strategist, he is a regular contributor to the Los Angeles Times and NPR and writes for Harper’s and Time . His books include New York Times bestsellers The Politics of Rich and Poor and Wealth and Democracy .