{"product_id":"inflated-isbn-9781394285716","title":"Inflated","description":"\u003cp\u003e\u003cb\u003eDiscover where America's monetary system is heading—and how it will impact you—in the years to come\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIn the newly revised second edition of \u003ci\u003eInflated: How Money \u0026amp; Debt Built the American Dream,\u003c\/i\u003e veteran investment banker, author, and Chairman of Whalen Global Advisors LLC delivers the latest installment of his concise history of the United States' monetary system, putting contemporary financial phenomena like inflation and high housing costs into context. You'll learn to understand how issues like the public debt and the rise of cryptocurrencies can be understood through the lens of how the United States government exploits debt and the monetary system to fund its operations.\u003c\/p\u003e \u003cp\u003eThe author explains:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eHow contemporary concepts like Modern Monetary Theory fit into and influence the American economy\u003c\/li\u003e \u003cli\u003eHow and why the United States' debt has tripled in the last fifteen years and the necessary consequences of that increase\u003c\/li\u003e \u003cli\u003eThe likelihood and potential impacts of another economic correction during the 2020s\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAn engrossing and essential read for anyone interested in the economic and monetary realities driving our markets, politics, and societies, the second edition of \u003ci\u003eInflated\u003c\/i\u003e is an eye-opening discussion of the drastic changes unfolding in the American economy and the even more dramatic transformations that lie just beyond the horizon.\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003eIntroduction xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Free Banking and Private Money 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Bank of the United States 5\u003c\/p\u003e \u003cp\u003eState Debt Defaults 10\u003c\/p\u003e \u003cp\u003eThe Age of Andrew Jackson 14\u003c\/p\u003e \u003cp\u003eThe Panic of 1837 19\u003c\/p\u003e \u003cp\u003eThe Gold Rush 23\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Lincoln Funds Civil War with Inflation 27\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Lincoln Legacy 29\u003c\/p\u003e \u003cp\u003eFinancing the War 32\u003c\/p\u003e \u003cp\u003eSalmon Chase and Jay Cooke 36\u003c\/p\u003e \u003cp\u003eFisk and Gould Profit by Inflation 39\u003c\/p\u003e \u003cp\u003eThe Panic of 1873 43\u003c\/p\u003e \u003cp\u003eGold Convertibility Restored 46\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Robber Barons and the Gilded Age 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRepublicans Embrace Silver and Inflation 59\u003c\/p\u003e \u003cp\u003eThe Panic of 1893 62\u003c\/p\u003e \u003cp\u003eThe Cross of Silver 64\u003c\/p\u003e \u003cp\u003eThe Turning Point: 1896 66\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 The Rise of the Central Bank 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Progressive: Theodore Roosevelt 75\u003c\/p\u003e \u003cp\u003eA Flexible Currency 79\u003c\/p\u003e \u003cp\u003eThe Crisis of 1907 83\u003c\/p\u003e \u003cp\u003eThe National Monetary Commission 86\u003c\/p\u003e \u003cp\u003eThe Federal Reserve Act 91\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 War, Boom, and Bust 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAn Elastic Dollar 107\u003c\/p\u003e \u003cp\u003eA Return to Normalcy 113\u003c\/p\u003e \u003cp\u003eThe Roaring Twenties 116\u003c\/p\u003e \u003cp\u003eNew Era Finance 118\u003c\/p\u003e \u003cp\u003eThe Rise of Consumer Finance 121\u003c\/p\u003e \u003cp\u003eAmerica Transformed 123\u003c\/p\u003e \u003cp\u003ePrelude to the Depression 128\u003c\/p\u003e \u003cp\u003eStocks Fall, Tariffs Rise 131\u003c\/p\u003e \u003cp\u003eDeflation and Crash 1929 137\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 New Deal to Cold War 145\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBroken Promises 148\u003c\/p\u003e \u003cp\u003eGold Seizure and Devaluation 153\u003c\/p\u003e \u003cp\u003eDevaluation and Tariffs 158Rise of the Corporate State 160\u003c\/p\u003e \u003cp\u003eThe Reconstruction Finance Corporation 166\u003c\/p\u003e \u003cp\u003eCentral Planning Arrives in Washington 171\u003c\/p\u003e \u003cp\u003eFederal Deposit Insurance 173\u003c\/p\u003e \u003cp\u003eCentralization of the Fed 176\u003c\/p\u003e \u003cp\u003eEccles and the Corporatist Revolution 183\u003c\/p\u003e \u003cp\u003eAmerica Goes to War 188\u003c\/p\u003e \u003cp\u003eWartime Finance 193\u003c\/p\u003e \u003cp\u003eBretton Woods 194\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Debt and Inflation 199\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRevenues Grow 204\u003c\/p\u003e \u003cp\u003eThe Fed Regains Independence 207\u003c\/p\u003e \u003cp\u003ePostwar Growth 210\u003c\/p\u003e \u003cp\u003eCold War, Free Trade 213\u003c\/p\u003e \u003cp\u003eThe Golden Age 218\u003c\/p\u003e \u003cp\u003eGlobal Imbalances Return 222\u003c\/p\u003e \u003cp\u003eNixon’s Betrayal 226\u003c\/p\u003e \u003cp\u003eThe Dollar Peg Ends 227\u003c\/p\u003e \u003cp\u003eSovereign Dollar Debt 232\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Leveraging the American Dream 239\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe New Uncertainty 243\u003c\/p\u003e \u003cp\u003eFull Employment 249\u003c\/p\u003e \u003cp\u003eBalanced Budgets and Inflation 254\u003c\/p\u003e \u003cp\u003eShock Treatment 258\u003c\/p\u003e \u003cp\u003eThe Crisis Managers 263\u003c\/p\u003e \u003cp\u003eLatin Debt Crisis 268\u003c\/p\u003e \u003cp\u003eReagan Reappoints Volcker 272\u003c\/p\u003e \u003cp\u003eThe Neverending Crisis 275\u003c\/p\u003e \u003cp\u003eVolatility Returns 278\u003c\/p\u003e \u003cp\u003eBoom to Subprime Crisis 281\u003c\/p\u003e \u003cp\u003eThe Greenspan Legacy 284\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Financial Crisis and Malaise 289\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQuantitative Easing 295\u003c\/p\u003e \u003cp\u003eThe Powell Pivot and COVID 305\u003c\/p\u003e \u003cp\u003eThe Fed Goes Big 311\u003c\/p\u003e \u003cp\u003eDeficits and Central Bank Independence 319\u003c\/p\u003e \u003cp\u003eOffshore Dollars and Taxes 325\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 New American Dreams 333\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Growth Illusion 341\u003c\/p\u003e \u003cp\u003eInflation and Stagnation 345\u003c\/p\u003e \u003cp\u003eA Flexible Currency 352\u003c\/p\u003e \u003cp\u003eTricentennial Dollar? 355\u003c\/p\u003e \u003cp\u003eEndgame 358\u003c\/p\u003e \u003cp\u003eNotes 365\u003c\/p\u003e \u003cp\u003eSelected References 387\u003c\/p\u003e \u003cp\u003eAcknowledgments 391\u003c\/p\u003e \u003cp\u003eAbout the Author 393\u003c\/p\u003e \u003cp\u003eIndex 395\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eR. CHRISTOPHER WHALEN\u003c\/b\u003e is an investment banker and author in New York City. He is Chairman of Whalen Global Advisors LLC, which focuses on the financial services, mortgage finance, and technology sectors. He has three decades’ experience as a writer and financial professional in Washington, New York, and London.   \u003c\/p\u003e\u003cp\u003eIn the newly revised second edition of \u003ci\u003eInflated: Money, Debt, and the American Dream,\u003c\/i\u003e veteran investment banker, author, and Chairman of Whalen Global Advisors LLC delivers the latest installment of his concise and insightful history of the United States’ monetary system. This book puts contemporary financial phenomena—like inflation and high housing costs—into context. \u003c\/p\u003e\u003cp\u003eYou’ll learn how to understand issues like the public debt and the rise of cryptocurrencies through the lens of how the U.S. government exploits debt and the monetary system to fund its operations. You’ll also discover how contemporary concepts like Modern Monetary Theory fit into and influence the American economy and the policymakers who drive it. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eInflated\u003c\/i\u003e tells the story of how and why the U.S. public debt has tripled over the last fifteen years, as well as the necessary consequences of that increase, and the likelihood and potential impacts of another economic correction during the 2020s. It also considers the failure of America’s political class to control and manage America’s financial affairs. \u003c\/p\u003e\u003cp\u003eA fascinating and invaluable book for anyone interested in the monetary and economic realities driving our politics, markets, and societies, this latest edition of \u003ci\u003eInflated \u003c\/i\u003eis an eye-opening discussion of the drastic changes that characterize the modern American economy—as well as the even more dramatic transformations that may lie just beyond the horizon.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003e\u003csmall\u003ePRAISE FOR\u003c\/small\u003e INFLATED\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e“Who says that the sequel never stacks up with the original? The new edition of \u003ci\u003eInflated\u003c\/i\u003e brings Christopher Whalen’s marvelously accessible history of American finance right down to the present day. Securities analyst, central banker, investor, deal-doer and author, Whalen is no mere recounter of the past but also an informed and provocative critic of the present. His ideas about the future will likely save his readers some large multiple of the price of his book.”\u003cbr\u003e \u003cb\u003e—JAMES GRANT,\u003c\/b\u003e Founder and Editor, \u003ci\u003eGrant’s Interest Rate Observer\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003e“A gripping biography of American finance. Whalen chronicles credit as a main character in the United States’ journey from colonial outpost to economic superpower. An erudite and engrossing work of monetary history that illuminates the recurring patterns of boom and bust, \u003ci\u003eInflated\u003c\/i\u003e belongs on the bookshelves of those who seek to understand the volatile financial landscape of the 2020s and beyond.”\u003cbr\u003e \u003cb\u003e—JACK FARLEY,\u003c\/b\u003e Host of the \u003ci\u003eMonetary Matters\u003c\/i\u003e podcast \u003c\/p\u003e\u003cp\u003e“When it comes to institutional structures, we can only know where we are by knowing where we have been. Chris Whalen builds our understanding of the American financial system as he leads us on the journey from the newly independent American republic creating its first banks to the 21st century, passing through fevered monetary debates, schemes, panics, bailouts and the great financial turning points of the Civil War, the First World War and the Depression, supplying pointed observations along the way. Two of my favorites: ‘The American Dream of instant wealth via opportunism and speculation,’ and ‘We pass laws that promise our people price stability but pursue policies and practices that require steady inflation.’ I found this lively history and commentary on the eternal interaction of politics and finance both very instructive and enjoyable.”\u003cbr\u003e \u003cb\u003e—ALEX J. POLLOCK,\u003c\/b\u003e Senior Fellow, Mises Institute, and Author of \u003ci\u003eFinance and Philosophy\u003c\/i\u003e and \u003ci\u003eSurprised Again!\u003c\/i\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989420458213,"sku":"NP9781394285716","price":29.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781394285716.jpg?v=1761784035","url":"https:\/\/k12savings.com\/es\/products\/inflated-isbn-9781394285716","provider":"K12savings","version":"1.0","type":"link"}