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A review by kahn_johnson
Boomerang: Travels in the New Third World by Michael Lewis
5.0
If you didn't think the world was a scary place already - read this book.
Having already taken us inside the financial meltdown of the American system in The Big Short (go read if you haven't, ideally before this), Lewis now takes us on a trip around the globe. Or what's left of it.
Starting in Iceland, Lewis - using all his skills as an engaging and yet informative writer - takes us through the various stages of the global financial implosion, drawing parallels between inherent national characteristics (the Icelandic male likes taking risks, be it with fishing or finance) and the mess created there-in.
From Greece (no one thinks paying taxes is their job) to Ireland (where no one thought to count how many people actually needed a house), the cards fall as certainly as the sun sets on a debt-ridden bank.
And then there's Germany, where a blind faith in the rules caused problems that SHOULDN'T have existed.
Finally, Lewis takes us home to what is left of his America - where a militant approach to pension rights and salaries is slowly bankrupting the West Coast, one city at a time.
Throughout Boomerang, the greed and stupidity of man is at once anger-inducing and to be pitied. Lewis shows us that, in some ways, what is entirely our fault is in some ways not our fault.
Only it is.
A book that both inspires and enrages, Boomerang should be made essential reading for the next few generations.
I'd suggest picking up a copy in a library, but who's got one of those these days?
Having already taken us inside the financial meltdown of the American system in The Big Short (go read if you haven't, ideally before this), Lewis now takes us on a trip around the globe. Or what's left of it.
Starting in Iceland, Lewis - using all his skills as an engaging and yet informative writer - takes us through the various stages of the global financial implosion, drawing parallels between inherent national characteristics (the Icelandic male likes taking risks, be it with fishing or finance) and the mess created there-in.
From Greece (no one thinks paying taxes is their job) to Ireland (where no one thought to count how many people actually needed a house), the cards fall as certainly as the sun sets on a debt-ridden bank.
And then there's Germany, where a blind faith in the rules caused problems that SHOULDN'T have existed.
Finally, Lewis takes us home to what is left of his America - where a militant approach to pension rights and salaries is slowly bankrupting the West Coast, one city at a time.
Throughout Boomerang, the greed and stupidity of man is at once anger-inducing and to be pitied. Lewis shows us that, in some ways, what is entirely our fault is in some ways not our fault.
Only it is.
A book that both inspires and enrages, Boomerang should be made essential reading for the next few generations.
I'd suggest picking up a copy in a library, but who's got one of those these days?