Tuesday, November 15, 2011

Boomerang: Travels In The New Third World - Michael Lewis

If the end does come, it won't be zombies - it will be bankers. They brought us to the edge of ruin in 2008 and no doubt will lead us there again. Lewis starts in Iceland, where the fishermen came off the boats and into banking, and in 30 years bankrupted the country. In Greece he spends time in a monastery run by an order of monks that turned a land deal into a series of business deals that brought down the economy. It didn't help that no one in Greece pays taxes, and public sector employees make boat loads of money.  In Germany he tries to find out why the Germans kept pumping money into failing EU economies but instead comes away with insight about the German relationship to excrement. Last stop is California, where a state out of money still manages to be one the largest economies in the world.  Lewis is an excellent writer with a talent for getting out of the way and letting his characters tell the story.

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