This timely and important book takes a serious view of our current economic situation. The author's conclusions differ from the conventional wisdom, which suggests that the manufacturing sector is regaining much of its dominance as a result of the declining dollar, that exports will take over as a major source of economic growth, that a recession is unlikely, and that a depression is no longer possible. Indeed, she outlines many similarities between the excesses of the 1980s and those of the 1920s which led to the Great Depression. The author provides convincing evidence that the recent economic recovery may only have provided a smokescreen for the continued deterioration of the U.S. economy.
This timely and important book takes a serious view of our current economic situation. The author's conclusions differ from the conventional wisdom, which suggests that the manufacturing sector is regaining much of its dominance as a result of the declining dollar, that exports will take over as a major source of economic growth, that a recession is unlikely, and that a depression is no longer possible. Indeed, she outlines many similarities between the excesses of the 1980s and those of the 1920s which led to the Great Depression. The author provides convincing evidence that the recent economic recovery may only have provided a smokescreen for the continued deterioration of the U.S. economy.
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