Wikinvest Wire


Sunday, March 14, 2010

A new book by Yves Smith of Naked Capitalism has just hit bookstores - ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism. It follows in a long line of post-crisis books and, so far, the reviews look pretty good. There's also this slick video that may help boost sales a little.

Interestingly, the only negative review at Amazon complains about there being too many conspiracy theories - what's wrong with conspiracy theories anyway?

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CrisisMaven said...

What I find a bit unnerving is that many such books treat the crisis as a thing either of the past and look at "how we got there" or of something we're in the middle of but do not consider that we might not even have seen the worst by far. What about the next big default tsunami, the adjustable rate mortgages or ARMs, likely bigger than original sbprime, yet hitting a much more depressed market o boot? What about worthless second lien mortgages still in the books as if they'd ever be paid back? What about the commercial property markets? What about the multifamily houses starting to default? What about the sovereign debt of failing states such as Greece on the books? The last Great Depression, as we're told by the Keynesian pundits, took a war to get out of. A string of more bestsellers to come, I'm sure.

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