Boomerang: Travels in the New Third World
The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge.
Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a pi...more
Checking in with the whiz kids who predicted the Wall Street crash that he wrote about in The Big Short, his excellent look at the latest Wall Street meltdown, Michael Lewis finds that the next big bust will be on the nation-state scale. His construct for analyzing how nations deal with the economic environment of the 21st century is to imagine each of these countries in a dark room in which piles of money were dumped, the easy credit available in the first chu ...more
This is less of a story and more of a collection of five separate articles about the lead up to the fin ...more
Three Icelandic Members of Lollypop Guild, Which Controls Iceland's Economy
I've been entertained and enlightened by every Michael Lewis book I've read, including this one and his exploring Major League Baseball mathematics, the NFL's left tackle, the stock market and financial shorting ( The Big Short ). Lewis has the uncanny, creative ability to explain in clear and simple terms subj ...more
I was chatting to a couple of people the other day who really know finance and suchlike, and they objected that Lewis doesn't get everything right. I can't say whether that's a question of fact or a matter of nuance and opinion. What I can say is that a) nothing he writes clashes with my experience or understandi ...more
I think my main complaints can be summarized with three observations: 1) This book seemed rushed, and not in-depth; 2) Lewis has demonstrated the ability to simplify complex situations, but in this book he instead relies on over-simplistic cliches; 3) as opposed to explaining and illuminating, he seems to have an axe to grind -- a biased viewpoint he ...more
Lewis’s books are all about what’s between the lines. He is all about the subtle extrapolation of meanings and hidden meanings lurking beneath the subject matter. In his wonderful book, “Moneyball”, which was ostensibly about baseball and the econ ...more
I listened to the Recorded Books edition of this book, and Lewis has a laugh in his v ...more
What I found most fascinating about the story of Iceland was not in the book, but in the comments of a friend who lives there. Because Iceland ...more
While other financial writers can make eyes glaze over as they detail the markets and throw around acronyms like ECB (European Central Bank) and IMF (International Monetary Fund), Lewis has a rare gift for making economics personal. In “Boomerang: Travels in the New Thir ...more
I bought it for Wilhelm but made the mistake of leaving it lying around and yesterday I did what I said I would not do and started reading it. And couldn't put it down. Fortunately it's short.
In an attempt to figure out what happened to the euro ...more
If you’re scratching your head over the financial news from Europe these days and wondering what on earth has been happening in Greece, Ireland, and elsewhere that has everyone, especially the Germans, in a state of panic, Michael Lewis will make it all clear to you with his customary straight talk, humor, and insight. Boomerang — a collection of Lewis’ articles for Vanity Fair on what he calls “financial-disaster t ...more
"I'll give ye a pot o'financial credit for ten years", - he says.
"I'll waste it on heroic but useless enterprises, cause I'm a manly viking" - says the Icelander.
"I'll lend it to meself and declare bankruptcy when I can't pay the interest" - says the Irish.
"I'll stop working, spend the money and then refuse to pay back, cause I'm cunning and lazy" - says the Greek.
"I won't spend a pfennig on myself, will give my money to the greek ...more
The entertainment value is the strange incompetence and stupidity of people. But it is also depressing. Terrible things are happening to ordinary people. I loved hearing it as an audiobook, educating me while I was doing other things. Reading this as a physical book might be less desirable for me. In the book the author describes himself as a “financial disaster tourist.” He travels to and writes about five area ...more