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trol of our economy by an out of control Finance sector, over-extension of credit and the massive amount of debt our citizens and country maintain and our continued dependence on foreign oil creates a situation where we may no longer be able to control our fate or place in the world. We have become increasingly dependent on the financial resources and wealth of other emerging countries (primarily China).

Which leads me to what I believe are some of the strengths and weaknesses of this book. Mr. Phillips does have panache for describing the topics in very clear, somewhat colorful way. However, this is also tempered by what I consider to be somewhat sensationalism and a fore-telling of doom and gloom. Also, I believe Mr. Phillips is much too quick to draw parallels to events of the 'distant' past to use as a fore-telling of things to come for us. I found that I am not alone in this opinion. In his review of Phillips's book, Daniel Gross of The New York Times indicates 'During bubbles, analysts are always prone to extrapolate from recent trends indefinitely into the future and reach dramatic conclusions.' (Gross) While Phillips maintains that America is still overly reliant the financial sector, Gross contends that we are actually moving on to the next 'big thing', that being the creation and manufacturing of the components for Alternative Energy solutions (Gross).

In addition, I believe that while Phillips does do a decent job describing each of these crises, he does a poor job of offering any tangible solutions or even any Proposals. It is, as though, he just wants to take shots across the bow of the political landscape of 2008 (which happened to be an election year). Robert Solow of The New Republic Online says that Phillips stays 'as the superficial level of Chicken Little.' (Solow) Solow continues in his review of Phillips's book to point out that Phillips maintains a flair for the dramatic but fails to understand some of the very points he is trying to drive home. For instance, Phillips, in his chapter entitled 'Bullnomics', attempts to describe why he believes the Consumer Price Index calculations are purposely flawed and lack integrity. (Phillips 80-84) But, Solow, being a Nobel Prize Economist, rebuts almost every point that Phillips makes. (Solow) He does however give Phillips credit for his discussion of 'Peak Oil'. I believe this is mainly because Solow tends to support the notion 'that world demand is increasing faster than world supply and availability (Solow).' Nevertheless, Solow ends by writing, 'It is too bad that he [Phillips] has no taste for genuine analysis.' (Solow). Ouch! That feels a bit harsh but then I am not a Nobel Economist. Nevertheless, I will attempt to describe some specific financial policy proposals that I would like to see come as a result of this book.

Financial Policy Proposal

First, I would like to see much better oversight of our financial community. Personally, I would like to see the reinstatement of the Glass-Stegall Act, which was repealed by President Clinton in 1999. Mr. Phillips points out that 'the Glass-Stegall Act of 1933 kept commercial banks, mortgage finance, insurers, and securities firms apart and unable to collude with each other in the unsafe and speculative practices they had indulged in the 1920s' (Phillips Preface xix). I believe the 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。