(2008) Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism. By KEVIN PHILLIPS. (ISBN: 0670019070 / 0-670-01907-0)

Book Description: Viking Press, New York, 2008. Stated First Published in 2008 by Viking Penguin, number line on copyright page reads 1 3 5 7 9 10 8 6 4 2. Light Grey Hard Cover Boards and Spine with Gold Text. This is a First Edition remainder book which is new and never used. Book has no remainder marks. 239 pages, illustrated with charts and graphs, 6.25" x 9.25" tall, .75" thick. New copy - Never read - Not price clipped. Beautiful copy of book and dust jacket. COLLECTOR'S COPY.

Book Condition: Brand New.

Dust Jacket Condition: Brand New. NON price-clipped DJ [$25.95 US].

About This Book: The bestselling author reveals how the U.S. financial sector has hijacked our economy and put America’s global future at risk.

Synopsis: A cautionary survey of the role of America's financial sector in compromising the nation's economy and global future examines the sources of such issues as rising debt, high mortgage rates, and increasing oil prices, making sobering predictions about the downfall of America as a world power.

About The Author: Kevin Price Phillips (born November 30, 1940) is an American writer and commentator on politics, economics, and history. Formerly a Republican Party strategist, Phillips has become disaffected with his former party over the last two decades, and is now one of its most scathing critics. He is a regular contributor to the Los Angeles Times and National Public Radio, and is a political analyst on PBS' NOW with Bill Moyers.

Phillips was a strategist on voting patterns for Richard Nixon's 1968 campaign, which was the basis for a book, The Emerging Republican Majority, which predicted a conservative realignment in national politics, and is widely regarded as one of the most influential recent works in political science. His predictions regarding shifting voting patterns in presidential elections proved accurate, though they did not extend "down ballot" to Congress until the Republican revolution of 1994. Phillips also was partly responsible for the design of the Republican "Southern strategy" of the 1970s and 1980s.

The author of fourteen books, he lives in Goshen, Connecticut, in Litchfield County.

Biography: Phillips was educated at the Bronx High School of Science, Colgate University, the University of Edinburgh and Harvard Law School. After his stint as a senior strategist for the Nixon presidential campaign, he served a year, starting in 1969, as Special Assistant to the U.S. Attorney General, but left after a year to become a columnist. In 1971, he became president of the American Political Research Corporation and editor-publisher of the American Political Report (through 1998).

In 1982, the Wall Street Journal described him as “the leading conservative electoral analyst -- the man who invented the term "Sun Belt" [a phrase also attributed to legendary Speaker of the United States House of Representatives Sam Rayburn], named the New Right, and prophesied ‘The Emerging Republican Majority’ in 1969.”

Later, he became a critic of Republicans from the south and west, the area he had identified as the "Heartland", the future core of Republican votes. He had also identified the "Yankee Northeast" as the future Democratic stronghold, foreshadowing the current split between Red States and Blue States. More than 30 years before the 2004 election, Phillips foresaw such previously Democratic states as Texas and West Virginia swinging to the Republicans and Vermont and Maine becoming Democratic states.

Bad Money (2008): Kevin Phillips examines America's great shift from manufacturing to financial services. He also discusses America’s petroleum policies and the tying of the dollar to the price of oil. Phillips suggests that the Euro and the Chinese Yuan/Renminbi are favorites to take the dollar's place in countries hostile towards America, like Iran. He then tackles the lack of regulatory oversight employed in the housing market and how the housing boom was allowed to run free under Alan Greenspan. The book concludes with the proposal that America is employing bad capitalism and extends Gresham’s Law of currency to suggest that our good capitalism will be driven out by the bad. The book is dedicated to Phillips' grandson, William Russell Phillips.

Bibliography:

• The Emerging Republican Majority (1969)
• Mediacracy: American Parties and Politics in the Communications Age (1974)
• Electoral Reform and Voter Participation (with Paul H. Blackman, 1975)
• Post-Conservative America (1982)
• Staying on Top: The Business Case for a National Industrial Strategy (1984)
• The Politics of Rich and Poor: Wealth and Electorate in the Reagan Aftermath (1990)
• Boiling Point: Democrats, Republicans, and the Decline of Middle Class Prosperity (1993)
• Arrogant Capital: Washington, Wall Street and the Frustration of American Politics (1994)
• The Cousins’ Wars: Religion, Politics and the Triumph of Anglo-America (1999)
• William McKinley (2003)
• Wealth and Democracy: A Political History of the American Rich (2002) ISBN 0-7679-0533-4
• American Dynasty: Aristocracy, Fortune, and the Politics of Deceit in the House of Bush (2004) ISBN 0-670-03264-6
• American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century (2006) ISBN 0-670-03486-X
• Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism (2007) ISBN 0-670-01907-0