"How deficit spending, gluttonous consumption and military adventurism, they say, will bring America to its knees…" — The Economist "This is a powerful book. In addition to its depth, it is well written, well documented, and vastly readable. I had the feeling of seeing an X–ray of economic reality with the crust removed. It should be made mandatory reading in most circles. Read it, and your views of the world around you will no longer be the same." — Nassim Nicholas Taleb , author of The Black Swan and Fooled by Randomness "Now perhaps someone will finally listen!" — Jim Rogers , author of Investment Biker, Adventure Capitalist, and Hot Commodities "Instead of trade and work, imperialism breeds militarism, inflation, and debt, as Bonner and Wiggin show. Yet there is a golden hope in freedom and honest money." — Llewellyn H. Rockwell Jr. , President, Ludwig von Mises Institute "[Empire of Debt] is a fantastic book. It′s thoughtful, erudite, witty, well written, practical . . . and spot–on. If you value your financial health, you′ll read it from cover to cover. Now!" — Doug Casey , Chairman, Casey Research, LLC, and author of Crisis Investing "I laughed, I cried, I renewed my passport. . . . Bonner and Wiggin deliver a steady diet of insight and wit that terrifies the reader, even as it amuses. Empire of Debt is not for everyone, only for those of us who hope to enjoy continuing prosperity amidst difficult conditions." — Eric Fry , Editor, The Rude Awakening
From the Inside Flap
"The Golden Age of American capitalism is over. . . . In the space of half a century it passed from gold, to silver, to paper, and is now somewhere between plastic and navel lint." From The New Empire of Debt In the last half of 2008, the Empire of Debt received the margin call from Hell. Now, all of its citizens are asked to pay up as the U.S. economy stumbles down a dangerous path of financial turmoil. What exactly went wrong? When things are good, people tend to believe the most outrageous thingsthat the financial sector could get rich by lending money to people who couldn't pay it back, and that a whole economy could flourish by luring consumers to spend more than they could afford. These hallucinations created an immense worldwide bubble of debt and dollars. And nowwith the U.S. government inflating the biggest bubble in public debt the world has ever seena financial whirlpool has formed and threatens to drag the entire country down the drain. In The New Empire of Debt , the internationally acclaimed author team of William Bonner and Addison Wiggin return to reveal how the epic financial bubble that is plaguing the United States will soon bring an end to this once-great empire. Throughout the book, they offer a frightening look atthe United States' precarious position and discuss how government control of the economy and financial systemcombined with unfettered deficit spending and gluttonous consumptionhas ravaged the business environment, devastated consumer confidence, and pushed the global economy to the brink. Along the way, Bonner and Wiggin warn of the dangers that lie ahead and offer practical advice to protect your financial well-being as the American empire collapses upon itself. You'll discover that you don't have to tie your own fate to the inevitable destruction of America's system of imperial finance. Instead, you can take some simple steps to weather the crisis. Bonner and Wiggin have been studying the financial landscape for more than twenty years. With The New Empire of Debt , they not only show you how we got into this mess, but how to get yourself out of it.