Inflated by R. Christopher Whalen, Hardcover, 9780470875148 | Buy online at The Nile
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Inflated

How Money and Debt Built the American Dream

Author: R. Christopher Whalen and Nouriel Roubini  

Hardcover

Americans as a whole view themselves as reasonably prudent and sober people when it comes to matters of money, even though the choices we make at the ballot box and in Washington seem at odds with that self image.

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Summary

Americans as a whole view themselves as reasonably prudent and sober people when it comes to matters of money, even though the choices we make at the ballot box and in Washington seem at odds with that self image.

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Description

Americans as a whole view themselves as reasonably prudent and sober people when it comes to matters of money, reflecting the puritan roots of the earliest European settlers. Yet as a community, we also seem to believe that we are entitled to a lifestyle that is well-beyond our current income, a tendency that goes back to the earliest days of the United States and particularly to get rich quick experiences ranging from the Gold Rush of the 1840s to the real estate bubble of the early 21st Century.

Inflated examines this apparent conflict and makes the argument that such a world view is so ingrained in us that to expect the United States to live in a "deflated" world is simply unrealistic. It skillfully seeks to tell the story of, money inflation and public debt as enduring (and perhaps endearing) features of American life, rather than something we can one day overcome as our policy makers constantly promise.

  • Features interviews with today's top financial industry leaders and insiders.
  • Offer a glimpse into the future of the Federal Reserve and the role it will play in the coming years
  • Examines what the future may hold for the value of the U.S. dollar and the real incomes of future generations of Americans

The gradual result of the situation we find ourselves in will inevitably lead to inflation, loss of economic opportunity, and a decline in the value of the dollar. This book will show you why, and reveal how we might be able to deal with it.

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Critic Reviews

“'…takes the reader on a journey through more than two centuries of monetary and fiscal policy and banking.' (The Economist, December 2010).”

takesthe reader on a journey through more than two centuries of monetaryand fiscal policy and banking. (The Economist, December2010).

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About the Author

R. CHRISTOPHER WHALEN is cofounder and Managing Director of Institutional Risk Analytics, a Torrance, California, bank rating agency and consulting firm. He is editor of IRA's popular newsletter, the Institutional Risk Analyst, and heads IRA's advisory practice. Whalen is among one of the most frequently quoted financial analysts in the United States and appears regularly on Bloomberg, CNBC, and National Public Radio. He worked for the U.S. House of Representatives, the Federal Reserve Bank of New York, as a Mexico analyst during the 1990s, and as an investment banker for firms such as Bear Stearns & Co., and Prudential Securities. During his three decades as an investment banker and writer, Whalen contributed to publications such as Barron's, American Banker, the New York Times, Financial Times, and many others. He has testified before both the U.S. Congress and the Securities and Exchange Commission on issues ranging from financial regulation to OTC derivatives to XBRL to the federal rescue of GMAC. For more information,

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Back Cover

PRAISE FOR INFLATED "A thorough, highly readable history of the politics that have controlled banking, currency, monetary gold, and government debt since the founding. I am going to put Inflated on the short list of books that are given to our new traders and analysts." -- PAUL TUDOR JONES II "From the revolutionary-era origins of the national debt, through Civil War era greenbacks, New Deal deficit finance, and Richard Nixon's severing of the dollar's link to gold, Chris Whalen's Inflated offers a wry, often comical account of America's long, crisis-prone love affair with inflation, debt, and the amazing dwindling dollar. His take-no-prisoners account of our latest financial crisis brings the story close to home. So does his timely conclusion: Americans must either find their way back to fiscal sanity and real, investment-driven growth, or risk a financial debacle that could make the 'Crash of 2008--2009' seem like the good old days." -- BOB REYNOLDS , Chief Executive Officer, Putnam Investments "Chris Whalen leads a fast and insightful tour through the historical and current battlefields of U.S. fiscal and financial class warfare. A fascinating and rewarding read." -- EDWARD J. KANE , Boston College "Chris Whalen is already famous for his stellar work articulated in his bank rating service and in the Institutional Risk Analyst. This book captures another dimension. He uses his family history, which starts in the Nixon administration. He embellishes on his personal interviews with prominent persons like Paul Volcker and Josh Rosner. His book documents the 'too big to fail' syndrome. Finally, he presents a view of the future and articulates what the confluence of central banking, government fiscal policy, and market vigilantes must confront ahead." -- DAVID R. KOTOK , Chairman and Chief Investment Officer, Cumberland Advisors "In the Rothbardian tradition, Christopher Whalen fingers the bad guys and follows the money in his fast-paced history detailing the U.S. government's continual monetary debauchery. For those wanting the real story of why America teeters on the edge of a financial cliff, Inflated is the book to read." -- DOUGLAS FRENCH , President, Ludwig von Mises Institute

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More on this Book

PRAISE FOR INFLATED "A thorough, highly readable history of the politics that have controlled banking, currency, monetary gold, and government debt since the founding. I am going to put Inflated on the short list of books that are given to our new traders and analysts." -- PAUL TUDOR JONES II "From the revolutionary-era origins of the national debt, through Civil War era greenbacks, New Deal deficit finance, and Richard Nixons severing of the dollars link to gold, Chris Whalens Inflated offers a wry, often comical account of Americas long, crisis-prone love affair with inflation, debt, and the amazing dwindling dollar. His take-no-prisoners account of our latest financial crisis brings the story close to home. So does his timely conclusion: Americans must either find their way back to fiscal sanity and real, investment-driven growth, or risk a financial debacle that could make the Crash of 2008--2009 seem like the good old days." -- BOB REYNOLDS , Chief Executive Officer, Putnam Investments "Chris Whalen leads a fast and insightful tour through the historical and current battlefields of U.S. fiscal and financial class warfare. A fascinating and rewarding read." -- EDWARD J. KANE , Boston College "Chris Whalen is already famous for his stellar work articulated in his bank rating service and in the Institutional Risk Analyst. This book captures another dimension. He uses his family history, which starts in the Nixon administration. He embellishes on his personal interviews with prominent persons like Paul Volcker and Josh Rosner. His book documents the too big to fail syndrome. Finally, he presents a view of the future and articulates what the confluence of central banking, government fiscal policy, and market vigilantes must confront ahead." -- DAVID R. KOTOK , Chairman and Chief Investment Officer, Cumberland Advisors "In the Rothbardian tradition, Christopher Whalen fingers the bad guys and follows the money in his fast-paced history detailing the U.S. governments continual monetary debauchery. For those wanting the real story of why America teeters on the edge of a financial cliff, Inflated is the book to read." -- DOUGLAS FRENCH , President, Ludwig von Mises Institute

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Product Details

Publisher
John Wiley & Sons Inc
Published
17th December 2010
Edition
1st
Pages
416
ISBN
9780470875148

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Save
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RRP $62.96
$48.48
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