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Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse
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$ 15.59
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| Retail Value |
$ 19.99 |
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$ 4.40 (22%) |
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| Item Number |
2127832 |
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Item Description...
In Meltdown, the free-market answer to the Fed-created economic crisis, New York Times bestselling author Thomas E. Woods, Jr., explains what led up to the current economic crisis, who's really to blame, and why government bailouts won't work. |
Item Specifications...
Dimensions: Length: 0.75" Width: 5.5" Height: 7.5"
Weight: 0.2 lbs.
Binding MP3 CD
Release Date Mar 1, 2009
ISBN 1400162092
EAN 9781400162093
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Availability 14 units.
Availability accurate as of May 30, 2012 04:41.
Usually ships within one to two business days from Chambersberg, PA.
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Reviews - What do our customers think?
 | The truth can be depressing... Jan 28, 2010 |
| I read this book, loved it and found it very depressing... The facts are the facts. Every sentance in this book is packed with a new facts, a name a date a quote and more. It is truly a lot to digest and I found that I could only read a chapter a day in order to process it. A lot of infornation and certainly not boring. I wish to commend this writter and I recommend this book...Great book.... | | | | The Moral Superiority Of Liberty Jan 24, 2010 |
| I really enjoy books about macroeconomics even though I still barely understand the subject. It seems that the discussion always boils down to the debate between collective central planning & laissez-faire free markets. I have always respected the legitimacy of capitalism while finding those whom argue the merits of communalism intriguing. Without even taking into consideration the morality of the confiscation of private wealth one must ask with such a poor track record why such ideas haven't been completely abandoned. What I liked most about this book is that it explains the theoretical and practical superiority of liberty. After reading it I have come to appreciate the Austrian School of economics and taken to watching videos about the subject at mises.org | | |  | The situation in a nutshell Jan 12, 2010 |
The Fed creates and owns the countries money. All of the countries money is borrowed from the Fed. Therefore the Fed owns and controls the country. Private individuals own the Fed.
All the books and long discussions obscure the basic reality and hence are welcomed by the Fed. | | |  | Poor analysis, good solutions Jan 11, 2010 |
Amazing how experts *in their own field* don't understand what's going on. Woods is wrong on the causes of the housing bubble. And if he's wrong here - how can we know what he *is* right about ?
The CRA pertained to depository institutions only...and was created in 1977. How could this have affected the mortgage market in the 2000s ? Paul Krugman doesn't buy it - and neither do I. Freddie and Fannie didn't do it either - as their mortgages more-less came out clean. It was *Wall Street* and other big money firms that underwrote and traded the bad paper. And let's not forget, without F & F, we wouldn't *have* a mortgage market today !!
We also shouldn't forget who invented the concept of hyper-trading home mortgage debt - the private industry.
Then The Fed. Yes, they were a cause of the problem. But The Fed is not government - it is a *private* bank !! It serves (and takes orders from) the Banksters who almost destroyed our economy. It makes a lot of profits on its own, too.
That said, I agree with most of the recommendations in the closing chapter. Let's stop this money-monopoly which serves only a tiny portion of our people...but wrecks havoc on the rest of us.
| | | | Forgotten Financial Truths Jan 10, 2010 |
This is an important book. I recommend it strongly to any American voter who wants his country to be healthy and strong for the next generation. In Meltdown, Woods takes a buzz saw to the argument that we need the government to save us from the free market. He makes a clear and irrefutable case that the government has been and remains the problem.
The great value of the book is its clear explanation of some financial fundamentals that the entire finance industry and many economists seem to have forgotten. Woods shows that financial economics at its core is not all that complicated and that common sense always applies no matter how much the government tries to save us from it. He also hints that discussions of certain economic truths have been and continue to be intentionally surpressed. (You will sense that in reading some of the breezy and dismissive negative reviews of this book.)
When I studied Economics at the graduate level I discovered that certain realities are taught with 180 degree inaccuracy at the undergraduate, high school and elementary school levels. To my satisfaction this book methodically and in plain English busts economic myths that most Americans believe religiously. Specifically, Meltdown answers these important questions:
-What caused and ended the Great Depression?
-Is consumption a good measure of prosperity?
-What is inflation, really?
-Aren't price drops often a bad thing?
-What is money?
-What is the role of the Federal Reserve Bank in economic growth?
-Can Keynesian Theory really explain events and prescribe sound policy?
Woods's logical answers are the opposite of what most Americans think they know. Woods quotes economic thinkers from across the centuries to show his arguments are nothing new.
Woods's style is refreshing in that he is plain and direct. He names names, both heroes and villains. He holds both Republicans and Democrats accountable to the same standards. Looking ahead from early 2009, he correctly predicts the federal government's course of action. Some may be put off by his willingness to use words such as "blockheads" and "dopes." But the same readers will likely be convinced of the accuracy of the terminology.
In the first 140 pages of the book Woods explains with ironclad logic how the current government role distorts and damages the economy. Toward the end, he advocates abolition of the Federal Reserve Bank and adoption of a commodity-based monetary unit. This will seem radical to most readers who have been taught to accept the "need" for the Central Bank. Unfortunately Woods does not spend much text on the key arguments in favor of a Central Bank and refute them. But at a minimum, this book will make readers wonder why the Fed is never questioned, and is often worshipped in the press. Even if you don't accept that we would be better off without the Fed, you will agree that it's role has been destructive and should be checked. Readers will come away with an appreciation for the fact that government policies to fix the economy have been exactly wrong for a very long time. In the last chapter Woods translates his economic common sense into what he thinks ought to be done in the next several years.
As I read this book, I thought frequently of the story of King Canute who had the wisdom to demonstrate to his constituents that he could not stop the tides by decree. We need that sort of wisdom in our economic leadership in the US today. If the US fails to meaningfully embrace the common sense truths presented in the first six chapters of this book, I believe we are doomed to financial ruin.
A bonus value of this book is an empassioned Forward by the Congressman and once widely-mocked Presidential candidate Ron Paul, who looks a whole lot smarter to many Americans since the 2008 financial meltdown. | | | Write your own review about Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse
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