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Boomerang: Travels in the New Third World

This book can be downloaded and read in 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.

From Publishers Weekly

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 naivet 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

Lewis makes economic issues human

While I think The Big Lie was a bit more focused, I liked this book and believe it offers valuable insight into economic and political events happening this week. It is a good compliment to the first book and will be especially appreciated by those that read it first.

Exhilaratingly insightful

Well worth the read!

Boomerang: Travels in the New Third World
View in iTunes
  • $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