Boomerang: Travels in the New Third World
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“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.
From Publishers Weekly
© Publishers Weekly
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!
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.
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.
- Category: Economics
- Published: Oct 03, 2011
- Publisher: W. W. Norton & Company
- Seller: W. W. Norton
- Print Length: 240 Pages
- Language: English