Bad Money

In his acclaimed book American Theocracy, Kevin Phillips warned of the perilous interaction of debt, financial recklessness, and the spiking cost (and growing scarcity) of oil- warnings that are proving to be frighteningly accurate. Now, in his most significant and timely book yet, Phillips takes the full measure of this crisis. They are a part of what he calls "bad money"- not just the depreciated dollar, but also the dangerous attitudes and the flawed products of wayward mega-finance. His devastating conclusion: In its hubris, the financial sector has hijacked the American economy and put our very global future at risk-and it may be too late to stop it."A harrowing picture of national danger that no American reader will welcome, but that none should ignore. . . . Frighteningly persuasive."
-Alan Brinkley, The New York Times

"An indispensable presentation of the case against things as they are."
-Time

"Sobering . . . positively alarming."
-Los Angeles TimesKevin Phillips has been a political and economic commentator for more than three decades. A former White House strategist, he is a regular contributor to the Los Angeles Times and NPR and writes for Harper’s and Time. His books include New York Times bestsellers The Politics of Rich and Poor and Wealth and Democracy.