At the time of writing this review (Dec'03) it is difficult to be too negative about the worldwide financial recovery we appear to be currently seeing. Yet, for those of us who are very unconvinced that the world is actually in as good shape as recent equity market recoveries suggest, we finally have a very approachable book to help us clarify why we still feel EXTREMELY wary about things.
This book is basically saying that the wheels are presently coming off the US economy (and for which there will inevitably be broader consequences) but what is SOOO frightening is that it takes a very straightforward and undramatic tone to say so. It also doesn't use high levels of financial theory to support its position, and is all the more approachable because of it.
What I liked most about this book is that it communicates a whole range of different ideas in a simple and straightforward manner which almost anyone who's financially aware will find understandable and interesting. Whilst the middle sections are sometimes a little rambling, and perhaps try to cover a wider range of ideas in greater detail than is necessary, the closing chapters admirably pull the wealth of different ideas together in a summary that is both clear, enlightening and destined to provoke a LOT of thinking.
The bottom line is that if you think that everything is fine with global economics then think again. The most powerful people in the world are making EXACTLY the same blunders that they have made time and time before, and that anyone capable of independent thought had better develop and implement a very different mindset to thrive within the environment we now likely face.
Definitely not a book for sheep.