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The New Empire of Debt: The Rise and Fall of an Epic Financial Bubble (Hardcover)


Review
"How deficit spending, gluttonous consumption and military adventurism, they say, will bring America to its knees…"
— The Economist
"This is a powerful book. In addition to its depth, it is well written, well documented, and vastly readable. I had the feeling of seeing an X-ray of economic reality with the crust removed. It should be made mandatory reading in most circles. Read it, and your views of the world around you will no longer be the same."
—Nassim Nicholas Taleb, author of The Black Swan and Fooled by Randomness

"Now perhaps someone will finally listen!"
—Jim Rogers, author of Investment Biker, Adventure Capitalist, and Hot Commodities

"Instead of trade and work, imperialism breeds militarism, inflation, and debt, as Bonner and Wiggin show. Yet there is a golden hope in freedom and honest money."
—Llewellyn H. Rockwell Jr., President, Ludwig von Mises Institute

"[Empire of Debt] is a fantastic book. It's thoughtful, erudite, witty, well written, practical . . . and spot-on. If you value your financial health, you'll read it from cover to cover. Now!"
—Doug Casey, Chairman, Casey Research, LLC, and author of Crisis Investing

"I laughed, I cried, I renewed my passport. . . . Bonner and Wiggin deliver a steady diet of insight and wit that terrifies the reader, even as it amuses. Empire of Debt is not for everyone, only for those of us who hope to enjoy continuing prosperity amidst difficult conditions."
—Eric Fry, Editor, The Rude Awakening

Product Description
An updated look at the United States' precarious position given the recent financial turmoil

In The New Empire of Debt, financial writers Bill Bonner and Addison Wiggin return to reveal how the financial crisis that has plagued the United States will soon bring an end to this once great empire.

Throughout the book, the authors offer an updated look at the United States' precarious position given the recent financial turmoil, and discuss how government control of the economy and financial system-combined with unfettered deficit spending and gluttonous consumption-has ravaged the business environment, devastated consumer confidence, and pushed the global economy to the brink. Along the way, Bonner and Wiggin cast a wide angle lens that looks back in history and ahead to the coming century: showing how dramatic changes in the economic power of the United States will inevitably impact every American.

Reveals the financial realities the United States currently faces and what the ultimate outcome may be
Weaves together the worlds of politics, economics, and personal finance in a way that underscores the severity of the situation
Addresses the events leading up to the implosion of the U.S. financial system
Looks ahead to help you avoid the pitfalls presented by a weaker United States
Other titles by Bonner: Empire of Debt, Financial Reckoning Day, and Mobs, Messiahs, and Markets
Other titles by Wiggin: I.O.U.S.A., Demise of the Dollar, and Financial Reckoning Day
The United States is heading down a difficult path. The New Empire of Debt clearly shows how this has happened and discusses what you can do to overcome the financial challenges that will arise as the situation deteriorates.

March of the Kakistocracy, August 26, 2009
By A. Jurshevski "Economist" (Toronto Ontario Canada)


Read the full review at [...]


"Whilst we do not agree with everything that the book has to say, we agree the majority of the arguments and we find the context and perspective that it brings to these issues refreshing, well researched and well-written. Unlike many of the writers in this space, the prose is not verbose, bombastic or shrill. This is a thoughtful and cogent treatment of the most important issue the World is facing today.

You are in good company reading this book. Among those endorsing it are Pete Petersen, Warren Buffett, David Walker, Paul O'Neill, Jim Rogers and others. We recommend that all elected officials and concerned citizens everywhere consider this book required reading."

* Kakistocracy: Government populated by the most corrupt and inept members of a society.

A Crumbling Financial Empire?, October 9, 2009
By Larry Underwood "Author, 'Life Under the Corp... (Scottsdale, AZ)


Authors William Bonner and Addison Wiggin, a couple of economic iconoclasts, have compiled a chilling perspective of a crumbling American financial empire; whose irrational economic policy over the years has created huge buget deficits that defy logic; sooner or later, the bubble is going to burst, and this country is in for an economic disaster of epic proportions.

It's not going to be a pretty picture.

The problem began in the post-Reagan years, when any sort of prudent fiscal policy seemed to become a distant memory. Perhaps the greed & hubris of big government is creating an unrealistic perception that creating an unfathomable budget deficit really won't hurt the economy; just keep borrowing. That's no way to run a business and certainly no way to run a country; except to run it into the ground, financially.

We've become a bailout nation, with little regard for any financial common sense. The Stimulis Package is an ill-conceived plan that is going to be ensuring our long term financial devastation, which our children's children will be still paying off, well into their golden years of retirement. Retirement? What's that?

The message delivered by Bonner and Wiggin is startlingly clear; this country is heading down the primrose path of socialism and it's a cost we won't be able to afford. We're crumbling under a mountain of debt, and the inevitable landslide will prove to be catastrophic, unless our fiscal policy is changed; very soon. We don't have much time to waste; our nation's financial future is on very thin ice.

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