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Download Bad Money: The Inexcusable Failure of American Finance: An Update to Bad Money Audiobook

Extended Audio Sample Bad Money: The Inexcusable Failure of American Finance: An Update to Bad Money, by Kevin Phillips Click for printable size audiobook cover
3 out of 53 out of 53 out of 53 out of 53 out of 5 3.00 (511 ratings) (rate this audio book) Author: Kevin Phillips Narrator: Scott Brick Publisher: Penguin Random House Format: Unabridged Audiobook Delivery: Instant Download Audio Length: Release Date:
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The bestselling author reveals how the US financial sector has hijacked our economy and put America's global future at risk.

In American Theocracy, Kevin Phillips warned us of the perilous interaction of debt, financial recklessness, and the increasing cost of scarce oil. The current housing and mortgage debacle is proof once more of Phillips's prescience, and only the first harbinger of a national crisis. In Bad Money, Phillips describes the consequences of our misguided economic policies, our mounting debt, our collapsing housing market, our threatened oil, and the end of American domination of world markets. America's current challenges (and failures) run striking parallels to the decline of previous leading world economic powers—especially the Dutch and British. Global overreach, worn-out politics, excessive debt, and exhausted energy regimes are all chilling signals that the United States is crumbling as the world superpower.

“Bad money” refers to a new phenomenon in wayward megafinance—the emergence of a US economy that is globally dependent and dominated by hubris-driven financial services. Also “bad” are the risk miscalculations and strategic abuses of new multitrillion-dollar products such as asset-backed securities and the lure of buccaneering vehicles like hedge funds. Finally, the US dollar has been turned into bad money as it has weakened and become vulnerable to the world's other currencies. In all these ways, “bad” finance has failed the American people and pointed US capitalism toward a global crisis. Bad Money is the perfect follow-up to Phillips’s last book, whose dire warnings are now proving frighteningly accurate.                                          

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Listener Opinions

  • 2 out of 52 out of 52 out of 52 out of 52 out of 5 by Jrobertus | 2/20/2014

    " Saddly, I could not work up enough interest to finish this book. I have enjoyed some of his other books, and I don't doubt this one is well researched and spot on. It deals with the history and casue of our our current (2008-9) financial mess. Even so, it is just too boring for words, so I gave up. "

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 by Devi | 2/18/2014

    " One way I know a non-fiction book that interested me is by the number of "stickies" that are in the book identifying references or other points I want to look at later. This book is loaded with them. "

  • 5 out of 55 out of 55 out of 55 out of 55 out of 5 by Bucky | 2/16/2014

    " Be sure to get the latest paperback edition which includes a 50-page forward/update written just after Obama's inauguration. "

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 by Rod Zemke | 2/12/2014

    " Great author--good book. Phillips has a great mind and is a very original thinker. The material can be a bit arcane if you are not that interested in finance. "

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