Boomerang: The Meltdown Tour

Michael Lewis , Michael Lewis

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Having made the U.S. financial crisis comprehensible for us all in The Big Short, Michael Lewis realised that he hadn't begun to get grips with the full story. How exactly had it come to hit the rest of the world in the face too? Just how broke are we really?

Boomerang is a tragi-comic romp across Europe, in which Lewis gives full vent to his storytelling genius. The 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 piñata stuffed with cash and allow as many citizens as possible to take a whack. The Irish wanted to stop being Irish. The Germans wanted to be even more German. Michael Lewis's investigation of bubbles across Europe is brilliantly, sadly hilarious. He also turns a merciless eye on America: on California, the epicentre of world consumption, where we see that a final reckoning awaits the most avaricious of nations too.

This is the ultimate book of our times. It's time to brace ourselves for impact. And, with Michael Lewis, to laugh out loud while we're doing it.

What will you learn from this book

  1. Global Financial Crisis Impact: The book investigates the global repercussions of the 2008 financial crisis and delves into the economic struggles faced by various countries in its aftermath.

  2. Country-Specific Economic Issues: Lewis examines individual countries, including Iceland, Greece, Ireland, and Germany, shedding light on their unique economic situations, financial missteps, and challenges.

  3. Housing Market Bubble: Explores how the housing market bubble and subsequent burst contributed to the economic collapse in different countries and regions.

  4. Governmental Failures and Policies: Discusses the role of governments and financial institutions in the crisis, highlighting failures in policy-making, regulation, and oversight.

  5. Debt and Austerity Measures: Examines the high levels of debt in certain countries and the implementation of austerity measures as a response to financial crises.

  6. Cultural and Societal Impact: Explores the cultural and societal influences that played a role in the economic downfall of these nations, including attitudes towards money, risk, and corruption.

  7. Financial Behavior and Decision Making: Examines the behavior of financial institutions, investors, and individuals, analyzing decisions and actions that contributed to the crisis.

  8. Consequences and Repercussions: Discusses the long-term consequences of the crisis, including unemployment rates, social unrest, and political instability in affected countries.

  9. Lessons Learned: Reflects on the lessons learned from the crisis and the changes implemented in financial systems and regulations to prevent similar future disasters.

  10. Economic Interconnectedness: Emphasizes the interconnectedness of global economies and how the crisis in one country can have cascading effects across borders.

Language English
ISBN-10 0241955025
ISBN-13 9780241955024
No of pages 213
Font Size Medium
Book Publisher Penguin Books Ltd
Published Date 06 Oct 2011

About Author

Author : Michael Lewis

13 Books

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