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Description ,review and table of contents of EMPIIRE OF DEBT The Rise of an Epic Financial Crisis : American businesses are still capitalistic. They operate, as everyone knows, in the most dynamic, free, and open economy in the world. A recent press item reports, that General Motors will never be able to compete unless it ditches its crushing health care costs. Why does it not just cut the costs? It seems to lack either the nerve or the right, but the journalist proposed a solution: Nationalize health care! Meanwhile, CEO pay has soared to the point where the average chief executive in 2000 earned compensation equal to 500 times the average hourly wage. Stockholders, whose money was being squandered, barely said a word. They were still under the illusion that the companies were working for them. They had not noticed that the whole capitalist institution had been trussed up with so many chains, wires, red tape, and complications, it no longer functioned like the freewheeling, moneymaking corporations of the nineteenth century. Meanwhile, corporations in China—a communist country—had their hands and feet free to eat our lunches and kick our derrieres.

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At the close of World War II, Allied forces faced frightening new German secret weapons buzz bombs, V-2s, and the first jet fighters. When Hitler's war machine began to collapse, the race was on to snatch these secrets before the Soviet Red Army found them. The last battle of World War II, then, was not for military victory but for the technology of the Third Reich. In American Raiders: The Race to Capture the Luftwaffe's Secrets Wolfgang Samuel assembles from official Air Force records and survivors' interviews the largely untold stories of the disarmament of the once mighty Luftwaffe and of Operation Lusty the hunt for Nazi technologies. In April 1945 American armies were on the brink of winning their greatest military victory, yet America's technological backwardness was shocking when measured against that of the retreating enemy. Senior officers, including the Commanding General of the Army Air Forces "Hap" Arnold, knew all too well the seemingly overwhelming victory was less than it appeared. There was just too much luck involved in its outcome. Two intrepid American Army Air Forces colonels set out to regain America?s technological edge. One, Harold E. Watson, went after the German jets; the other, Donald L. Putt, went after the Nazis' intellectual capital-their world class scientists.

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Cowen argues that global trade and communication are enriching all the world's cultures and that there's no such thing as cultural authenticity. . . . In fact, Cowen believes that commerce and art are allies. And he contends that because commerce is driving technology, ideas, goods, services and people across borders more freely than ever before, we are in the midst of an unprecedented boom in creativity all over the world. The quality, quantity and variety of cultural output is greater than ever; if there is more dreck, there is also more genius. And more people have more access to it than ever, at lower prices, regardless of where they live.

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The attacks of September 11, 2001, were accomplished through an amazing orchestration of logistics and personnel. Crossing the Rubicon discovers and identifies key suspects-finding some of them in the highest echelons of American government-by showing how they acted in concert to guarantee that the attacks produced the desired result.

Crossing the Rubicon is unique not only for its case-breaking examination of 9/11, but for the breadth and depth of its world picture-an interdisciplinary analysis of petroleum, geopolitics, narcotraffic, intelligence and militarism-without which 9/11 cannot be understood.

The US manufacturing sector has been mostly replaced by speculation on financial data whose underlying economic reality is a dark secret. Hundreds of billions of dollars in laundered drug money flow through Wall Street each year from opium and coca fields maintained by CIA-sponsored warlords and US-backed covert paramilitary violence. America's global dominance depends on a continually turning mill of guns, drugs, oil and money. Oil and natural gas-the fuels that make economic growth possible-are subsidized by American military force and foreign lending.

In reality, 9/11 and the resulting "war on terror" are parts of a massive authoritarian response to an emerging economic crisis of unprecedented scale. Peak Oil-the beginning of the end for our industrial civilization-is driving the elites of American power to implement unthinkably draconian measures of repression, warfare and population control. Crossing the Rubicon is more than a story. It is a map of the perilous terrain through which, together and alone, we are all now making our way.

Michael C. Ruppert is the publisher and editor of From the Wilderness, a newsletter read by more than 16,000 subscribers in 40 countries. A former Los Angeles Police Department narcotics investigator, he is widely known for his groundbreaking stories on US involvement in the drug trade, Peak Oil and 9/11.


About the Author
Mike Ruppert is the Publisher/Editor of From the Wilderness, a newsletter read by more than 16,000 subscribers in 40 countries. A former LAPD narcotics investigator, he is widely known for his groundbreaking stories on US involvement in the drug trade, Peak Oil and 9/11. His video on the latter, The Truth and Lies About 9-11, has sold more than 10,000 copies.

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Myths of the Free Market is arguably the most significant book in economics and politics since John Maynard Keynes. It systematically presents a broad range of telling criticisms of free market economics, criticisms that have not been presented elsewhere. Despite our genuine faith in the free market, laissez faire has not maximized wealth. When we moved from the purer free market policies of the 1920s and early 1930s to the proto-socialism of Roosevelt, our economic growth increased. As we have moved back to a purer free market, growth has slowed. We have lagged our trading partners who have mixed economies. Nor is this new. In the late 1800s the mixed economies of Bismarck's Germany and Meiji Japan outperformed the relatively free market economies of Great Britain and France. It is worse. Even in principle, laissez faire cannot work - it is incompatible with institutions that increase wealth. Patent protection is one example, easily generalized. It is worse yet. Laissez faire promotes the excessive concentration of wealth and exposes us all to avoidable danger. Over the last millennium there has been a 200-300 year cycle of wealth dispersion. Each time wealth disparity grew beyond a critical point it presaged decline and disaster for all of society. We now have the greatest disparity of wealth in our history. Kenneth Friedman holds an MS in Physics and PhD in Philosophy of Science from MIT. He has been interviewed in Barron's and on CNBC and quoted in The Wall Street Journal.

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Over the last 150 years the corporation has risen from relative obscurity to become the world's dominant economic institution. Eminent Canadian law professor and legal theorist Joel Bakan contends that today's corporation is a pathological institution, a dangerous possessor of the great power it wields over people and societies.

In this revolutionary assessment of the history, character, and globalization of the modern business corporation, Bakan backs his premise with the following observations:

* The corporation's legally defined mandate is to pursue relentlessly and without exception its own economic self-interest, regardless of the harmful consequences it might cause to others.

* The corporation's unbridled self-interest victimizes individuals, society, and, when it goes awry, even shareholders and can cause corporations to self-destruct, as recent Wall Street scandals reveal.

* Governments have freed the corporation, despite its flawed character, from legal constraints through deregulation and granted it ever greater authority over society through privatization.

But Bakan believes change is possible and he outlines a far-reaching program of achievable reforms through legal regulation and democratic control.

Featuring in-depth interviews with such wide-ranging figures as Nobel Prize winner Milton Friedman, business guru Peter Drucker, and cultural critic Noam Chomsky, The Corporation is an extraordinary work that will educate and enlighten students, CEOs, whistle-blowers, power brokers, pawns, pundits, and politicians alike.

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For the last sixty years, the CIA has managed to maintain a formidable reputation in spite of its terrible record, burying its blunders in top-secret archives. Its mission was to know the world. When it did not succeed, it set out to change the world. Its failures have handed us, in the words of President Eisenhower, “a legacy of ashes.”

Now Pulitzer Prize–winning author Tim Weiner offers the first definitive history of the CIA—and everything is on the record. LEGACY OF ASHES is based on more than 50,000 documents, primarily from the archives of the CIA itself, and hundreds of interviews with CIA veterans, including ten Directors of Central Intelligence. It takes the CIA from its creation after World War II, through its battles in the cold war and the war on terror, to its near-collapse after 9/ll.

Tim Weiner’s past work on the CIA and American intelligence was hailed as “impressively reported” and “immensely entertaining” in The New York Times.

The Wall Street Journal called it “truly extraordinary . . . the best book ever written on a case of espionage.” Here is the hidden history of the CIA: why eleven presidents and three generations of CIA officers have been unable to understand the world; why nearly every CIA director has left the agency in worse shape than he found it; and how these failures have profoundly jeopardized our national security.

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The first major history of the Crash in over a decade, Rainbow's End tells the story of the stock market collapse in a colorful, swift-moving narrative that blends a vivid portrait of the 1920s with an intensely gripping account of Wall Street's greatest catastrophe. The book offers a vibrant picture of a world full of plungers, powerful bankers, corporate titans, millionaire brokers, and buoyantly optimistic stock market bulls. We meet Sunshine Charley Mitchell, head of the National City Bank, powerful financiers Jack Morgan and Jacob Schiff, Wall Street manipulators such as the legendary Jesse Livermore, and the lavish-living Billy Durant, founder of General Motors. As Klein follows the careers of these men, he shows us how the financial house of cards gradually grew taller, as the irrational exuberance of an earlier age gripped America and convinced us that the market would continue to rise forever. Then, in October 1929, came a "perfect storm"-like convergence of factors that shook Wall Street to its foundations. We relive Black Thursday, when police lined Wall Street, brokers grew hysterical, customers "bellowed like lunatics," and the ticker tape fell hours behind.
This compelling history of the Crash--the first to follow the market closely for the two years leading up to the disaster--illuminates a major turning point in our history.

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A critical look at over 80 years of conflict, collusion, and corruption between financiers and politicians
Undue Influence paints a vivid portrait of the dealings between "the few", in this case members of Congress, the banking community, and the Fed, and sheds light on how radical new deregulatory measures could be introduced by unelected officials and then foisted upon Congress in the name of progress. In the process, the background of the new financial elite is examined-because they are markedly different than their predecessors of the 1920s and 1930s. Undue Influence also brings readers up to speed on other important issues, including how the financial elite has been able to perpetuate itself, how the markets lend themselves to these special interest groups, and how it is possible that after 80 years of financial regulation and regulatory bodies the same problems of financial malfeasance and fraud still plague the markets.
Charles R. Geisst (Oradell, NJ) is the author of 15 books, including Wheels of Fortune (0-471-47973-X), Deals of the Century (0-471-26397-4) and the bestsellers Wall Street: A History and 100 Years of Wall Street. Geisst has taught both political science and finance, worked in banking and finance on Wall Street and in London, as well as consulted. His articles have been published in the International Herald Tribune, Neue Zurcher Zeitung, Newsday, Wall Street Journal, and Euromoney.

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In the summer of 2007, the subprime empire that Wall Street had built all came crashing down. On average, fifty lenders a month were going bust-and the people responsible for the crisis included not just unregulated loan brokers andcon artists, but also investment bankers and home loan institutions traditionally perceived as completely trustworthy.

Chain of Blame chronicles this incredible disaster, with a specific focus on the players who participated in such a fundamentally flawed fiasco. Authors Paul Muolo and Mathew Padilla, well-regarded journalists for National Mortgage News and the Orange County Register respectively, reveal the truth behind how this crisis occurred, what individuals and institutions-from lenders and brokers to some of the biggest investment banks in the world-were doing during this critical time, and who is ultimately responsible for what happened.

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During the economic depression of the 1890s and the speculative frenzy of the following decade, Wall Street, high finance, and market crises assumed unprecedented visibility in the United States. Fiction writers published scores of novels in the period that explored this new cultural phenomenon. In Panic!, David A. Zimmerman studies how American novelists and their readers imagined--and in one case, incited--market crashes and financial panics.

Panic! examines how Americans' attitudes toward securities markets, popular investment, and financial catastrophe were entangled with their conceptions of gender, class, crowds, corporations, and history. Zimmerman investigates how writers turned to mob psychology, psychic investigations, and conspiracy discourse to understand not only how financial markets worked, but also how mass acts of financial reading, including novel reading, could trigger economic disaster and cultural chaos. In addition, Zimmerman shows how, by concentrating on markets in crisis, novelists were able to explore the limits of fiction's aesthetic, economic, and ethical capacities. With readings of canonical as well as lesser-known novelists, Zimmerman provides an original and wide-ranging analysis of the relation between fiction and financial modernity.

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In 1869, Jay Cooke, the brilliant but idiosyncratic American banker, decided to finance the Northern Pacific, a transcontinental railroad planned from Duluth, Minnesota, to Seattle. M. John Lubetkin tells how Cooke's gamble reignited war with the Sioux, rescued George Armstrong Custer from obscurity, created Yellowstone Park, pushed frontier settlement four hundred miles westward, and triggered the Panic of 1873.Staking his reputation and wealth on the Northern Pacific, Cooke was soon whipsawed by the railroad's mismanagement, questionable contracts, and construction problems. Financier J. P. Morgan undermined him, and the Crédit Mobilier scandal ended congressional support. When railroad surveyors and army escorts ignored Sioux chief Sitting Bull's warning not to enter the Yellowstone Valley, Indian attacks--combined with alcoholic commanders--led to embarrassing setbacks on the field, in the nation's press, and among investors.Lubetkin's suspenseful narrative describes events played out from Wall Street to the Yellowstone and vividly portrays the soldiers, engineers, businessmen, politicians, and Native Americans who tried to build or block the Northern Pacific.

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The Battle for Wall Street follows the struggle for power between two giants: the sellers, traditional commercial and investments banks; and the buyers, upstart hedge funds, private equity firms and the like. The battle is about winning the hearts, minds, and – yes, the wallets – of global investors. This battle is still running its course, and with the insights of industry veteran Richard Goldberg, who has had a front row seat, readers will gain a detailed understanding as to what, exactly, is going on within this dynamic arena, specifically the forces behind the shift of power from the old sell side gatekeepers to the new buy side players. The book will play out in three acts: Act One will examine the instruments of change – liquidity and financial technology – along with their influence on the sell and buy sides. Act Two will look at the agents of change – hedge funds, private equity, financial entrepreneurs, endowments, exchanges and sovereign wealth funds – and their impact on the sell and buy sides. In Act Three, Goldberg will take out his crystal ball and walk through the strategic implications for the winners and losers in this battle, against the dramatic backdrop of the subprime mortgage crisis and the resulting shakeup of global firms like Bear Stearns.

But Wall Street isn’t simply about institutions or corporate battles. It’s a landscape dominated by personalities. Goldberg’s unique access to major players will bring this book to life with amazing anecdotes and stories about the financial generals who have left their mark in The Battle for Wall Street.

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The power of political blogs in American politics is now evident to anyone who follows it. In Typing Politics, Richard Davis provides a comprehensive yet concise assessment of the growing role played by political blogs and their relationship with the mainstream media. Through a detailed content analysis of the most popular political blogs--Daily Kos, Instapundit, Michelle Malkin, and Wonkette--he shows the degree to which blogs influence the traditional news media. Specifically, he compares the content of these blogs to four leading newspapers noted for their political coverage: The Washington Post, The New York Times, The Wall Street Journal, and The Washington Times. He explains how political journalists at these papers use blogs to inform their reportage and analyzes general attitudes about the role of blogs in journalism. Drawing on a national survey of political blog readers, Davis concludes with a novel assessment of the blog audience. Compact, accessible, and well-researched, Typing Politics will be an invaluable contribution to the literature on a phenomenon that has reshaped the landscape of political communication.

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A classic examination of how our thoughts and feelings are manipulated by business, media and politicians, The Hidden Persuaders was the first book to expose the hidden world of “motivation research,” the psychological technique that advertisers use to probe our minds in order to control our actions as consumers. Through analysis of products, political campaigns and television programs of the 1950s, Packard shows how the insidious manipulation practices that have come to dominate today’s corporate-driven world began. Featuring an introduction by Mark Crispin Miller, The Hidden Persuaders has sold over one million copies, and forever changed the way we look at the world of advertising.

“One of the best books around for demystifying the deliberately mysterious arts of advertising.”–Salon

“Fascinating, entertaining and thought-stimulating.”–The New York Times Book Review

“A brisk, authoritative and frightening report on how manufacturers, fundraisers and politicians are attempting to turn the American mind into a kind of catatonic dough that will buy, give or vote at their command–The New Yorker

Originally published in 1957 and now back in print to celebrate its fiftieth anniversary, The Hidden Persuaders is Vance Packard’s pioneering and prescient work revealing how advertisers use psychological methods to tap into our unconscious desires in order to “persuade” us to buy the products they are selling.

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From one of America's leading reporters comes a deeply personal, extraordinarily powerful look at the most volatile crises he has witnessed around the world, from New Orleans to Baghdad and beyond. "Dispatches from the Edge of the World" is a book that gives us a rare up-close glimpse of what happens when the normal order of things is suddenly turned upside down, whether it's a natural disaster, a civil war, or a heated political battle. Over the last year, few people have witnessed more scenes of chaos and conflict than Anderson Cooper, whose groundbreaking coverage on CNN has become the touchstone of twenty-first century journalism. This book explores in a very personal way the most important - and most dangerous - crises of our time, and the surprising impact they have had on his life. From the devastating tsunami in South Asia to the suffering Niger, and ultimately Hurricane Katrina in New Orleans, Cooper shares his own experiences of traversing the globe, covering the world's most astonishing stories. In his first book, that passion communicates itself through a rich fabric of memoir and reportage, reflection and first-person narrative. Unflinching and utterly engrossing, this is the story of an extraordinary year in a reporter's life.

In 2005, two tragedies--the Asian tsunami and Hurricane Katrina--turned CNN reporter Anderson Cooper into a media celebrity. Dispatches from the Edge, Cooper's memoir of "war, disasters and survival," is a brief but powerful chronicle of Cooper's ascent to stardom and his struggle with his own tragedies and demons. Cooper was 10 years old when his father, Wyatt Cooper, died during heart bypass surgery. He was 20 when his beloved older brother, Carter, committed suicide by jumping off his mother's penthouse balcony (his mother, by the way, being Gloria Vanderbilt). The losses profoundly affected Cooper, who fled home after college to work as a freelance journalist for Channel One, the classroom news service. Covering tragedies in far-flung places like Burma, Vietnam, and Somalia, Cooper quickly learned that "as a journalist, no matter ... how respectful you are, part of your brain remains focused on how to capture the horror you see, how to package it, present it to others." Cooper's description of these horrors, from war-ravaged Baghdad to famine-wracked Niger, is poignant but surprisingly unsentimental. In Niger, Cooper writes, he is chagrined, then resigned, when he catches himself looking for the "worst cases" to commit to film. "They die, I live. It's the way of the world," he writes. In the final section of Dispatches, Cooper describes covering Hurricane Katrina, the story that made him famous. The transcript of his showdown with Louisiana Sen. Mary Landrieu (in which Cooper tells Landrieu people in New Orleans are "ashamed of what is happening in this country right now") is worth the price of admission on its own. Cooper's memoir leaves some questions unanswered--there's frustratingly little about his personal life, for example--but remains a vivid, modest self-portrait by a man who is proving himself to be an admirable, courageous leader in a medium that could use more like him. --Erica C. Barnett

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Are Americans in denial about the costs of the War on Terror? In The Real Price of War, Joshua S. Goldstein argues that we need to face up to what the war costs the average American—both in taxes and in changes to our way of life. Goldstein contends that in order to protect the United States from future attacks, we must fight—and win—the War on Terror. Yet even as President Bush campaigns on promises of national security, his administration is cutting taxes and increasing deficit spending, resulting in too little money to eradicate terrorism and a crippling burden of national debt for future generations to pay.

The Real Price of War breaks down billion-dollar government expenditures into the prices individual Americans are paying through their taxes. Goldstein estimates that the average American household currently pays $500 each month to finance war. Beyond the dollars and cents that finance military operations and increased security within the U.S., the War on Terror also costs America in less tangible ways, including lost lives, reduced revenue from international travelers, and budget pressures on local governments. The longer the war continues, the greater these costs. In order to win the war faster, Goldstein argues for an increase in war funding, at a cost of about $100 per household per month, to better fund military spending, homeland security, and foreign aid and diplomacy.

Americans have been told that the War on Terror is a war without sacrifice. But as Goldstein emphatically states: "These truths should be self-evident: The nation is at war. The war is expensive. Someone has to pay for it."

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