A piercing look at Uncle Sam, financial hubris, and a world headed down a disastrous financial path
In no-nonsense prose, Empire of Debt confronts head-on critical concerns about the position of the United States as the world’s leading economy and its great military might. For many years, the United States has been the country from which others sought advice, money, and a high return on investment. At the same time, Uncle Sam has descended from being the world's largest creditor to its greatest debtor. Why the paradox?
Empire of Debt reunites the team that conceived the international bestseller Financial Reckoning Day, and is the first in-depth look at how Americans abandoned their sound traditions of economic freedom, personal liberty, and fiscal restraint, favoring instead government control of the economy, unfettered deficit spending, gluttonous consumption, and fearless military adventurism, all of which have ravaged the business environment, devastated personal balance sheets, and led the global economy to the brink of its greatest financial crisis ever. Empire of Debt argues there will be a dramatic change in the economic power of the United States in the coming years that will inevitably impact every American.
Understanding these trends is critical for a wide range of readers, from lawmakers and corporate leaders to individual investors seeking the safest places to invest their retirement funds. Despite all this, the authors' irreverent style is entertaining as they manage to find humor in an otherwise precarious financial situation.