Empire of Debt : Financial Crisis
United States is an Empire of Debt
In clear but 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. However, the authors argue that the United States is in a precarious position that threatens the standard of living of most Americans.
Greatest Debtor
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.
Impact on every American
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.
Empire of Debt: The Rise Of An Epic Financial Crisis by Bill Bonner and Addison Wiggin
ISBN: 0471739022
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