After reading this book, you still won't understand exactly what caused the financial tsunami in 2008, but you will understand why five countries in particular got hardest hit - namely Iceland, Greece, Ireland, Germany and USA. This book makes it clear. Though it's not a serious study of the matter, it's highly readable, and quite funny too....Continua
是這些既得利益者的無窮貪欲 不但害了世界 也害了自身
You can consider this as a sequel of the author's another book: The Big Short. This book talks about the countries that are severely affected in the PIIGS drama.
Being a big fans of Michael Lewis, I think this book is a bit dull by the author's standard. Many incidents seem apparent in hindsight. But this book, more like a log book, provides little insight to provoke my thought....Continua
Click here to view my review in Spanish: http://lunairereadings.blogspot.com/2012/04/boomerang-travels-in-new-third-world.html
This book recounts the author's travels to a few interesting places of the globe where people (and governments) just went crazy when they saw themselves with a pile of cheap borrowed money. Some countries started to invest in foreign industries they knew nothing about (for example Iceland, buying AA withot knowing a thing about airlines). Other countries decided to forgive everyone's duty to pay taxes, and folded the public employees's pay fifty times (Greek). Other kept buying toxic papers to the very day the marked ceased to function (Germany). Others simply negotiated all the resources into lavish retirement plans for firefighters and police officers (Some cities in California). It was like a big money party, and now is hangover time. All of us, living souls will have to spend a great ammount of our lives paying for the fun those few had, and maybe our sons and grandsons will have too.
Lewis will not disappoint you. While you will enjoy his crazy stories in Iceland and Greece, it's also thought-provoking to relate EU crisis to the state and municipal finance in US.