9780470476154

Endless Money : The Moral Hazards of Socialism

by ;
  • ISBN13:

    9780470476154

  • ISBN10:

    047047615X

  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2009-11-02
  • Publisher: Wiley
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Summary

A detailed look at how, and why, the American financial system has reached its current stateToday's economy and capital markets are faced with the long-term buildup of public and private credit. Furthermore, we face higher taxes, greater spending, and more debt. We are now at a critical crossroads and our leaders have few realistic solutions. Proposals calling for tax reforms or fewer regulations have fallen on deaf ears. In fact, U.S. democracy has become more socialist and reform is needed immediately. Endless Money is an examination of how the U.S. government and the country's financial systems have embraced socialism, and why cultural deterioration reinforces the trend and jeopardizes democracy. In it, author William Baker sees this socialism embodied in two things. The first is the socialization of income, the second is the socialization of credit. Explores the present socialistic qualities of the American government and its financial system Looks back at how today's conditions relate not just to the Great Depression, but ancient empires such as Rome Calls for radical changes such as reduced regulatory power of the Federal Reserve, a considerable devaluation of the dollar in terms of gold, and repeal of income tax Includes a Web site devoted to book, with recommendations, quotes from the financial community, and think tank contactsInsightful and informative, Endless Money examines our current economic condition and describes what the United States can do to get back on the right economic track.

Author Biography

William Baker is the founder of Gaineswood Investment Management, Inc., where he has managed money since 1996. He has over 25 years of investment experience, including as a portfolio manager for Oppenheimer Funds. Baker received his master's in business administration from Dartmouth College and BA in economics from the University of Pennsylvania.

Visit www.readendless.com

Table of Contents

Forewordp. ix
Introductionp. xiii
The Calm before the Stormp. 1
Unknown Unknownsp. 3
Wings of Waxp. 18
Endless Moneyp. 33
The Rise and Fall of Hard Moneyp. 35
Flat-Earth Economicsp. 70
Spitting into the Windp. 116
Moral Hazardp. 135
Faux Class Warfarep. 163
The Rich are Different from You and Mep. 165
Sharecroppersp. 188
Assuming Powerp. 205
The Heart of Financial Systemp. 209
A Return to Malaisep. 221
Democracy: The Achilles' Heel of Capitalism?p. 232
Socialism-Roman Style!p. 237
From the Golden Era to Totalitarianismp. 241
Other Perspectivesp. 257
The Obsolescence of Characterp. 275
Bending to the Modern Worldp. 277
Self-Indulgencep. 300
The New Commandmentsp. 314
The Futurep. 333
Elephants in the Roomp. 335
The Elephant Killer-Goldp. 341
America Invictap. 358
Epiloguep. 369
Notesp. 381
About the Authorp. 407
Indexp. 409
Table of Contents provided by Ingram. All Rights Reserved.

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