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Boomerang : Travels in the New Third World - Michael Lewis

Boomerang

Travels in the New Third World

Hardcover Published: 3rd October 2011
ISBN: 9780393081817
Number Of Pages: 224

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The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge.

Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a pinata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German; the Irish wanted to stop being Irish.

Michael Lewis's investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency: oh, those foolish foreigners. But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations.

Industry Reviews

"Michael Lewis possesses the rare storyteller's ability to make virtually any subject both lucid and compelling. In his new book, Boomerang, he actually makes topics like European sovereign debt, the International Monetary Fund and the European Central Bank not only comprehensible but also fascinating... The book could not be more timely given the worries about Europe's deepening debt crisis and the recent warning issued by Christine Lagarde, managing director of the I.M.F., that 'the current economic situation is entering a dangerous phase.' Combining his easy familiarity with finance and the talents of a travel writer, Mr. Lewis sets off in these pages to give the reader a guided tour through some of the disparate places hard hit by the fiscal tsunami of 2008, like Greece, Iceland and Ireland, tracing how very different people for very different reasons gorged on the cheap credit available in the prelude to that disaster. The book - based on articles Mr. Lewis wrote for Vanity Fair magazine - is a companion piece of sorts to The Big Short: Inside the Doomsday Machine, his bestselling 2010 book about the fiscal crisis. Like that earlier book its focus is narrow. It doesn't aspire to provide a broad overview of the debt crisis but instead hands the reader a small but sparkling prism by which to view the problem, this time from a global perspective. At times Mr. Lewis can sound a lot like Evelyn Waugh: shrewd, observant and savagely judgmental, dispensing crude generalizations about other countries, even as he pokes fun at himself as a disaster tourist. Mr. Lewis's ability to find people who can see what is obvious to others only in retrospect or who somehow embody something larger going on in the financial world is uncanny. And in this book he weaves their stories into a sharp-edged narrative that leaves readers with a visceral understanding of the fiscal recklessness that lies behind today's headlines about Europe's growing debt problems and the risk of contagion they now pose to the world." -- New York Times

Preface: The Biggest Shortp. ix
Wall Street on The Tundrap. 1
And They Invented Mathp. 41
Ireland's Original Sinp. 83
The Secret Lives Of Germansp. 133
Too Fat To Flyp. 171
Acknowledgmentsp. 213
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780393081817
ISBN-10: 0393081818
Audience: General
Format: Hardcover
Language: English
Number Of Pages: 224
Published: 3rd October 2011
Publisher: WW Norton & Co
Country of Publication: US
Dimensions (cm): 21.8 x 15.0  x 2.3
Weight (kg): 0.4

Earn 104 Qantas Points
on this Book