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Boomerang: Travels in the New Third World
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Author
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Michael Lewis.
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Publisher
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Norton
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Format
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paperback
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ISBN
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9780393343441
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Pages/Publication Date
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216/2012
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Daedalus Item Code
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29350
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This item is not available.
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Description
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The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple market phenomenon, argues the author of Moneyball and The Big Short—it was temptation, enabling entire nations the chance to indulge aspects of their social character they could not otherwise afford. Icelanders wanted to stop fishing and become investment bankers. 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 brilliantly, ruefully hilarious—right up until we understand the reckoning that awaits the greatest and greediest of debtor nations: the United States. "Lewis's rare gift as a guide through the world of credit default swaps and sovereign debt doesn't come simply from his deep understanding of how the global financial system works ... but also from his skill as a storyteller, his ability to tell the larger tale through fascinating human stories of greed, excess, and self-delusion."—Boston Globe "Michael Lewis possesses the rare storyteller's ability to make virtually any subject both lucid and compelling.... 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.... 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."—NYTimes
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