Bad Money : Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism

In his most provocative and timely book yet, Kevin Phillips describes the consequences of our catastrophic economic policies, our mounting debt, our collapsing housing market, our diminishing oil, and the end of American domination of world markets. As always, Phillips goes far beyond the daily news coverage of these topics, both to add historical context and to show the foolish web of dubious strategies in which they are entangled. Washington's promotion of public and private debt, its incompetence in energy matters, its blunders in Iraq, and the overall loss of international respect for American political leadership and global strategies are all fuel for Phillips's fire. He is devastating in his conclusion that, in all ways, "bad" money and finance have failed the American people and pointed flawed U.S. capitalism toward a global crisis. Book jacket.

Kevin Phillips, a political and economic commentator for more than three decades and a former White House strategist, is the author of ten books.