The New Empire of Debt

Title: The New Empire of Debt: The Rise and Fall of an Epic Financial Bubble, 2nd Edition
Author: William Bonner, Addison Wiggin
Pages: 356; Hardcover
Publication Date: August 2009
Price: US$27.95 (This price is valid for India)
Published by John Wiley & Sons, Inc.

For those familiar with the author’s newsletter, ‘The Daily Reckoning’ this book lives up to the expectations of the language, tone and insight.

America with its strong military power had no serious challengers beyond its own borders. Hence it had to become its own worst enemy. All empires must find a way to destroy themselves and guess what? America found debt.

They can be really rude in the way they put things. In the chapter titled Modern Imperial Finance they write – “For years, we have been working on Greenspan’s obituary. We do not look forward to the event; we just don’t want to be caught off guard.”

Turning the dusty pages of history there are references from Genghis Khan to Obama. The authors offer an updated look at the United States' precarious position given the recent financial turmoil, and discuss how government control of the economy and financial system-combined with unfettered deficit spending and gluttonous consumption-has ravaged the business environment, devastated consumer confidence, and pushed the global economy to the brink. Along the way, Bonner and Wiggin cast a wide angle lens that looks back in history and ahead to the coming century: showing how dramatic changes in the economic power of the United States will inevitably impact every American.

The book weaves together the worlds of politics, economics, and personal finance in a way that underscores the severity of the situation
While addressing the events leading up to the implosion of the U.S. financial system, it looks ahead to help investors avoid the pitfalls presented by a weaker United States.

As they conclude, there is never a good time to die. Nor is there a good time for a depression and monetary collapse.

About the Authors:

William Bonner is President and CEO of Agora Inc., one of the world's largest financial newsletter companies (www.agorafinancial.com). He is the creator of the Daily Reckoning (www.dailyreckoning.com), a financial newsletter with more than 500,000 readers in the United States, Great Britain, and Australia, and is translated daily into French and German. Mr. Bonner is also the coauthor, with Addison Wiggin, of the international bestsellers Financial Reckoning Day and Empire of Debt.

Addison Wiggin is the Executive Publisher of Agora Financial. He is also the Executive Producer and a writer of the feature-length documentary film I.O.U.S.A., which was nominated for the Grand Jury Prize at the 2008 Sundance Film Festival. Mr. Wiggin is the coauthor, with Mr. Bonner, of the international bestsellers Financial Reckoning Day and Empire of Debt, and author of The Demise of the Dollar . . . And Why It's Even Better for Your Investments.

About Wiley:

Founded in 1807, John Wiley & Sons, Inc. has been a valued source of information and understanding for over 200 years, helping people around the world meet their needs and fulfill their aspirations. Since 1901, Wiley and its acquired companies have published the works of more than 400 Nobel laureates in all categories: Literature, Economics, Physiology/Medicine, Chemistry, Physics and Peace.

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