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Boomerang: Travels in the New Third World

Michael Lewis

This book is available for download with iBooks on your Mac or iOS device, and with iTunes on your computer. Books can be read with iBooks on your Mac or iOS device.

Description

“Lewis shows again why he is the leading journalist of his generation.”—Kyle Smith, Forbes
The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge.

Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a pinata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German; the Irish wanted to stop being Irish.

Michael Lewis's investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency: oh, those foolish foreigners. But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations.

Publishers Weekly Review

Dec 05, 2011 – Essentially an offbeat travelogue, Lewis's latest examines the recent global financial crisis by visiting the locales that have faltered beyond reasonable expectation. Though journalistic, there is a distinctly anthropological approach to vivid depictions of how particular cultural values contributed to such a bizarre, devastating series of events. In his dynamic narrative, Lewis simplifies complex financial systems without condescension, applies a degree of rationality to absurd decisions, and presents key individuals' profiles without denigration. Dark, deadpan humor is injected throughout: Iceland as a nation of fishermen-cum-hedge fund managers with "no idea what they were doing”; Greece's "fantastic mess” of scandalous monasteries, tax-evasion and top-down corruption; Ireland's busted banks and stratospheric losses debilitating a now "distinctly third world” country. Germany is singled-out for its "preternatural love of rules” and naiveté regarding the so-called "riskless asset” while California tops the list of "America's scariest financial places” following their ratings downgrade and piling debts. Easily devoured in one sitting, Lewis (Moneyball) manages to gracefully explain what happened with a unique regard for both the strengths and weaknesses of humankind.

Customer Reviews

Boomerang

Three brilliant yet simple explanations in a row of what went wrong with our financial system: Liar's Poker, The Big Short and now Boomerang.

An invaluable and highly-entertaining guide to understanding some of the fiscal mess we are in - a critical first step in trying to clean it up!

Bill Cowie
Connecticut

Boomerang

This book is an excellent overview of how the world leveraged it's future. I would recommend this book to anyone interested in learning about why we can't solve our problems by borrowing more money.

Must read

Yet again, Lewis brings life and clarity to an otherwise dismal and impregnable subject. The characters are thoughtfully chosen and almost uniformly appealing. A quick read with a clear (and rather troubling) thesis.

Boomerang: Travels in the New Third World
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  • $12.99
  • Available on iPhone, iPad, iPod touch, and Mac.
  • Category: Economics
  • Published: Oct 03, 2011
  • Publisher: W. W. Norton & Company
  • Seller: W. W. Norton
  • Print Length: 240 Pages
  • Language: English
  • Requirements: To view this book, you must have an iOS device with iBooks 1.3.1 or later and iOS 4.3.3 or later, or a Mac with iBooks 1.0 or later and OS X 10.9 or later.

Customer Ratings