The New Empire of Debt The Rise and Fall of an Epic Financial Bubble

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  • Edition: 2nd
  • Format: Hardcover
  • Copyright: 2009-08-03
  • Publisher: Wiley
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Second edition of the bestselling Empire of Debt by authors William Bonner (Mobs, Mesiahs, and Markets) and Addison Wiggin (I.O.U.S.A, Demise of the Dollar). In clear, almost literary prose, the authors cast a wide angel lens that looks back in history and ahead to the coming century. At the heart of the book is the United States, which for years has positioned itself and its people as the greatest country from which other countries sought advice, money, investments, etc. The authors give an updated look at the United States' precarious position given the recent financial turmoil, a situation that threatens the standard of living of most Americans. The US has been transformed from the largest creditor to the world's greatest debtor. Americans are by far the biggest consumers around the world. Furthermore, the West has used up nearly half of the world's ready oil supply, in just a few generations. This is not the same as other cycles in economic history with a declining stock market and then a sharp uptick. The authors argue that there will be a dramatic change in the economic power of the US that will inevitably impact every American. Understanding this trend is important for a range of readers from government to corporate leaders to individual investors wanting advice on the safest place to keep their savings.

Author Biography

William Bonner is President and CEO of Agora Inc., one of the world's largest financial newsletter companies (www.agorafinancial.com). He is the creator of the Daily Reckoning (www.dailyreckoning.com), a financial newsletter with more than 500,000 readers in the United States, Great Britain, and Australia, and is translated daily into French and German. Mr. Bonner is also the coauthor, with Addison Wiggin, of the international bestsellers Financial Reckoning Day and Empire of Debt.

Addison Wiggin is the Executive Publisher of Agora Financial. He is also the Executive Producer and a writer of the feature-length documentary film I.O.U.S.A., which was nominated for the Grand Jury Prize at the 2008 Sundance Film Festival. Mr. Wiggin is the coauthor, with Mr. Bonner, of the international bestsellers Financial Reckoning Day and Empire of Debt, and author of The Demise of the Dollar . . . And Why It's Even Better for Your Investments.

Table of Contents

Introduction: The Bubble Empirep. 1
Imperia Absurdum
Dead Men Talkingp. 19
Empires of Dirtp. 35
How Empires Workp. 51
As We Go Marchingp. 77
Woodrow Crosses the Rubicon
The Road to Hellp. 89
The Revolution of 1913 and the Great Depressionp. 125
MacNamara's Warp. 143
Nixon's the Onep. 169
Evening in America
Reagan's Legacyp. 181
America's Glorious Empire of Debtp. 207
Modern Imperial Financep. 235
Something Wicked This Way Comesp. 249
Fin De Bubble
Welcome to Squandervillep. 259
Still Turning Japanesep. 277
The Mighty Fallenp. 285
What to Do When the Barbarians Arrivep. 323
Notesp. 329
Indexp. 339
Table of Contents provided by Ingram. All Rights Reserved.

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