The New Empire of Debt ：A Powerful Book

Submitted by Hunter Xu on Saturday, 10 October 2009No Comment

Author: William Bonner
‘The New Empire of Debt’ Review:
Why deficit spending? 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. I recommend that all elected officials and concerned citizens everywhere consider this book required reading.

‘The New Empire of Debt‘ summary:
Authors William Bonner and Addison Wiggin, a couple of economic iconoclasts, have compiled a chilling perspective of a crumbling American financial empire; whose irrational economic policy over the years has created huge buget deficits that defy logic; sooner or later, the bubble is going to burst, and this country is in for an economic disaster of epic proportions.

The problem began in the post-Reagan years, when any sort of prudent fiscal policy seemed to become a distant memory. Perhaps the greed & hubris of big government is creating an unrealistic perception that creating an unfathomable budget deficit really won’t hurt the economy; just keep borrowing. That’s no way to run a business and certainly no way to run a country; except to run it into the ground, financially.

We’ve become a bailout nation, with little regard for any financial common sense. The Stimulis Package is an ill-conceived plan that is going to be ensuring our long term financial devastation, which our children’s children will be still paying off, well into their golden years of retirement. Retirement? What’s that?

The message delivered by Bonner and Wiggin is startlingly clear; this country is heading down the primrose path of socialism and it’s a cost we won’t be able to afford. We’re crumbling under a mountain of debt, and the inevitable landslide will prove to be catastrophic, unless our fiscal policy is changed; very soon. We don’t have much time to waste; our nation’s financial future is on very thin ice.

Not every American needs to participate in national finances, but we need to know the truth. ‘The New Empire of Debt‘ is really a powerful book for every one.

The Book Details: