false http://photo.goodreads.com/books/1170803970m/72200.jpg 72200 2 Many Americans have resisted the notion that their country is an imperial power. The idea seems to contradict the values of the Republic and its Founding Fathers. But in <I>Empire of Debt</I>, prominent financial analysts Bill Bonner and Addison Wiggin argue passionately that not only is the United States an empire, but it is also one whose end is coming soon. Bonner and Wiggin are the brains behind www.dailyreckoning.com, an iconoclastic and irreverent market advisory service that has long raised concerns about American indebtedness and warned of a looming dollar crisis. In <I>Empire of Debt</I>, a sequel to their earlier doom-and-gloom book <I>Financial Reckoning Day</I>, they elaborate on their argument that the U.S. economy is about to implode. <p> Bonner and Wiggin enumerate a long list of chronic ailments that imperil the American financial system--a massive trade deficit, soaring personal and government debt, a housing bubble, runaway military expenditures. These problems "hardly disturb the sleep of the imperial race," the authors write. "[But] all empires must pass away." Bonner and Wiggin argue that American imperial delusions are similar to the fantasies that fueled the dot-com market mania. They recommend readers buy gold as insurance in the event of a financial crisis. <I>Empire of Debt</I> flounders when discussing how America indebted itself; the authors blame the Federal Reserve Board's low interest rates but gloss over the fact that rates were slashed because the U.S. teetered on the brink of deflation in 2002 and 2003 (a topic they give more attention to in <I>Financial Reckoning Day</I>). As hardcore free-marketeers, Bonner and Wiggin also seem to long for the pre-welfare days of the 1920s but forget how that period's policies led to the Great Depression. That said, <I>Empire of Debt</I> contains many revelations that will open eyes. <I>--Alex Roslin</I> 69898 2005 Empire of Debt: The Rise of an Epic Financial Crisis total:76|5:18|4:30|3:22|2:5|1:1| 76 287 128 19 626495 0471739022 9780471739029 19 7 3.78 http://photo.goodreads.com/books/1176438668m/626495.jpg http://www.goodreads.com/book/show/626495.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 5 1 false Tue Jan 01 00:00:00 -0800 2008 Tue Feb 05 10:38:43 -0800 2008 Sat May 10 18:05:47 -0700 2008
Empire of Debt was written during the ...more...]]> 626495 0471739022 9780471739029 19 7 3.78 http://photo.goodreads.com/books/1176438668m/626495.jpg http://www.goodreads.com/book/show/626495.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 5 1 false Sun Apr 01 00:00:00 -0700 2007 Thu Jun 07 17:42:33 -0700 2007 Thu Jun 07 17:54:25 -0700 2007 more...]]> 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 4 0 false Tue Jan 06 00:00:00 -0800 2009 Fri Dec 26 14:51:30 -0800 2008 Wed Jan 07 11:02:37 -0800 2009 more...]]> 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 4 1 false Mon Jan 01 00:00:00 -0800 2007 Wed Jan 28 17:47:38 -0800 2009 Wed Jan 28 17:49:19 -0800 2009 EDIT: I read this very early in 2007 when nobody believed this stuff. Fast foward to Jan 2009... well these boys sure showed up everyone who doubted them!]]> 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 5 0 false Tue Oct 21 00:00:00 -0700 2008 Tue Oct 21 12:52:56 -0700 2008 Tue Oct 21 13:07:34 -0700 2008 It has a great deal of humor and covers america's foolish foreign policy of the last 100 years as well as the financial mistakes and greed.

Here are a few memorable quotes:

After the West won its Cold war with the Soviet Union, the neocons des...more...]]> 626495 0471739022 9780471739029 19 7 3.78 http://photo.goodreads.com/books/1176438668m/626495.jpg http://www.goodreads.com/book/show/626495.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 3 0 false Tue Jan 01 00:00:00 -0800 2008 Tue Sep 23 20:56:26 -0700 2008 Tue Sep 23 21:13:14 -0700 2008 more...]]> 626495 0471739022 9780471739029 19 7 3.78 http://photo.goodreads.com/books/1176438668m/626495.jpg http://www.goodreads.com/book/show/626495.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 3 0 false Fri Oct 17 00:00:00 -0700 2008 Fri Sep 12 11:46:14 -0700 2008 Fri Oct 17 18:42:59 -0700 2008 more...]]> 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 0 0 false Sun Jan 11 20:55:24 -0800 2009 Sun Jan 11 20:57:40 -0800 2009 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 4 0 false Wed Apr 08 07:37:45 -0700 2009 Sun Mar 15 08:33:41 -0700 2009 Wed Apr 08 07:37:45 -0700 2009 626495 0471739022 9780471739029 19 7 3.78 http://photo.goodreads.com/books/1176438668m/626495.jpg http://www.goodreads.com/book/show/626495.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 5 0 false Sun Feb 24 09:17:51 -0800 2008 Sun Feb 24 09:18:06 -0800 2008
]]> 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 4 0 false Mon May 01 00:00:00 -0700 2006 Tue Aug 28 07:53:47 -0700 2007 Tue Aug 28 07:57:44 -0700 2007 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 1 0 false Tue Mar 04 19:22:43 -0800 2008 Mon Mar 03 08:39:50 -0800 2008 Tue Mar 04 19:22:21 -0800 2008 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 4 0 false Mon Jul 14 00:00:00 -0700 2008 Sat Sep 27 18:57:39 -0700 2008 Sat Sep 27 19:04:28 -0700 2008 twice 626495 0471739022 9780471739029 19 7 3.78 http://photo.goodreads.com/books/1176438668m/626495.jpg http://www.goodreads.com/book/show/626495.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 5 0 false Tue May 01 00:00:00 -0700 2007 Thu Apr 12 21:31:25 -0700 2007 Wed May 02 05:36:02 -0700 2007 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 5 0 false Sun Mar 02 00:00:00 -0800 2008 Wed Feb 27 11:18:23 -0800 2008 Mon Mar 03 07:03:40 -0800 2008 626495 0471739022 9780471739029 19 7 3.78 http://photo.goodreads.com/books/1176438668m/626495.jpg http://www.goodreads.com/book/show/626495.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 3 0 false Fri Dec 19 00:00:00 -0800 2008 Mon Mar 17 19:21:16 -0700 2008 Fri Dec 19 20:47:24 -0800 2008 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 4 0 false Sat Jun 28 18:38:18 -0700 2008 Sat Jun 28 18:38:47 -0700 2008 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 3 0 false Tue Apr 22 07:57:06 -0700 2008 Tue Apr 22 07:57:21 -0700 2008 72200 047198048X 9780471980483 57 12 3.78 http://photo.goodreads.com/books/1170803970m/72200.jpg http://www.goodreads.com/book/show/72200.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 5 0 false Sat Nov 01 00:00:00 -0700 2008 Sun Oct 04 07:11:11 -0700 2009 Sun Oct 04 08:37:42 -0700 2009 more...]]> 626495 0471739022 9780471739029 19 7 3.78 http://photo.goodreads.com/books/1176438668m/626495.jpg http://www.goodreads.com/book/show/626495.Empire_of_Debt_The_Rise_of_an_Epic_Financial_Crisis 0 0 false Sat Dec 05 22:54:53 -0800 2009 Sat Dec 05 22:54:53 -0800 2009 http://www.goodreads.com/book_link/follow/8?book_id=72200