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Bad Money
The Inexcusable Failure of American Finance: An Update to Bad Money (A PenguinGroup 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.
