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Bad money : reckless finance, failed politics, and the global crisis of American capitalism / Kevin Phillips.

by Phillips, Kevin, 1940-

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New York : Viking, 2008.

United States -- Economic conditions -- 20th century.

United States -- Economic conditions -- 2001-

United States -- Economic policy -- 20th century.

United States -- Economic policy -- 2001-

xiv, 239 p. : ill. ; 24 cm.

1. Introduction : the panic of August -- 2. Finance : The new real economy? -- 3. Bullnomics : its favoritism and fictions -- 4. Securitization : the insecurity of it all -- 5. Peak oil : a potential pivot of the 2010s -- 6. The politics of evasion : debt, finance, and oil -- 7. The global crisis of American capitalism -- Appendix: Global public opinion and the loss of respect for the United States, 2003-7.

A survey of the role of America's financial sector in compromising the nation's global future examines the sources of rising debt, high mortgage rates, and increasing oil prices, making sobering predictions about the downfall of America as a world power.

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