Empire of Debt: The Rise of an Epic Financial Crisis by Will Bonner and Addison Wiggin

Description

“Empire of Debt: The Rise of an Epic Financial Crisis” is a book written by Bill Bonner and Addison Wiggin. Published in 2006, the book delves into the causes and consequences of the growing debt burden in the United States and examines the potential risks and implications of unsustainable financial practices.

In “Empire of Debt,” Bonner and Wiggin analyze the historical context of debt and its impact on nations throughout history. They argue that the United States, despite being a global economic powerhouse, has accumulated significant levels of debt that could potentially lead to a severe financial crisis.

The authors explore various aspects of the American economy, including government policies, consumer spending habits, and the role of the Federal Reserve. They argue that these factors have contributed to an unsustainable debt-fueled expansion and warn about the potential consequences of such a situation.

“Empire of Debt” provides a critical perspective on the American financial system and raises concerns about the long-term sustainability of the country’s economic practices. It challenges prevailing notions of perpetual economic growth and highlights the potential risks associated with excessive debt and the reliance on credit.