[MOBI] Ø Boomerang: Travels in the New Third World | by ☆ Michael Lewis

Boomerang: Travels in the New Third World By Michael Lewis,

  • Title: Boomerang: Travels in the New Third World
  • Author: Michael Lewis
  • ISBN: 9780393343441
  • Page: 251
  • Format: Paperback
  • The tsunami of cheap credit that rolled across the planet between 2002 and 2008 was 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 piThe tsunami of cheap credit that rolled across the planet between 2002 and 2008 was 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 pinata stuffed with cash and allow as many citizens as possible to take a whack at it The Germans wanted to be even German the Irish wanted to stop being Irish.Michael Lewis s investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency oh, those foolish foreigners But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations.
    Boomerang Travels in the New Third World The tsunami of cheap credit that rolled across the planet between and was than a simple financial phenomenon it was temptation offering entire societies the chance to reveal aspects of thei

    One thought on “Boomerang: Travels in the New Third World”

    1. UPDATED July 28, 2013 at bottomChecking in with the whiz kids who predicted the Wall Street crash that he wrote about in The Big Short, his excellent look at the latest Wall Street meltdown, Michael Lewis finds that the next big bust will be on the nation state scale His construct for analyzing how nations deal with the economic environment of the 21st century is to imagine each of these countries in a dark room in which piles of money were dumped, the easy credit available in the first chunk of [...]

    2. European Economies Collapse Under Collective Weight of Icelandic Elves, German Schei e, Self Hating Greeks, Suspicious IrishEnlightening and Entertaining Background from 2012 on Topics underlying Brexit and FrancofuirLolleep pp Guild, Controlling Significant Portion of Iceland s EconomyI ve been entertained and enlightened by every Michael Lewis book I ve read, including Moneyball The Art of Winning an Unfair Game, which explores Major League Baseball s use of quantum mathematics, The Blind Side [...]

    3. Lewis s Boomerang 2011 is a slick read that coasts on its author s reputation for writing well about others fiscal knavery and financial stupidity I usually don t pick up a book if the author s name on the cover is twice the size of the book s title, especially when that title is anything but fresh and intriguing How many gazillion books are named Boomerang Do a book search and marvel at the results but this one came to me on loan from a neighbor who heard I liked to read bless his heart , and I [...]

    4. Michael Lewis is surprisingly racist and politically incorrect in this book For entertainment s sake, he reduces entire nations to cartoon characters, essentially turning the world into the Looney Tunes It s equal parts hilarious and frightening the you learn about the financial future of the global economy, the you start to think of the world in terms of Daffy Duck and Bugs Bunny.This is less of a story and of a collection of five separate articles about the lead up to the financial crises i [...]

    5. I am a huge Michael Lewis fan in fact I wish I could have his job He writes about money and sports, two subjects I find fascinating However, Lewis crosses the line with this book, which is a compilation of previously published magazine pieces about the financial crisis as it has played out in Iceland, Ireland, Greece, Germany and California Lewis seems to have reached some sweeping conclusions about the essential character of these places, based on spending a couple of weeks there and talking to [...]

    6. I m loving this Taken in tandem with Lewis s previous book, The Big Short, it s a hilarious and terrifying explanation of the present financial crisis ruination, collapse, armageddon I was chatting to a couple of people the other day who really know finance and suchlike, and they objected that Lewis doesn t get everything right I can t say whether that s a question of fact or a matter of nuance and opinion What I can say is that a nothing he writes clashes with my experience or understanding of [...]

    7. In 2004, Wall Street s largest investment banks brought about the beginning of a worldwide financial downturn by creating the credit default swap on the subprime mortgage bond The events that followed have been widely reported Once wealthy nations such as Greece, Ireland, Iceland and Germany accrued gargantuan debts, causing governments, banks and other companies to crumble In Boomerang , Michael Lewis explains the details of how and why this happened, visiting the worst affected countries and s [...]

    8. At 48mins 31secs ye geezer states that Iceland will drop the kroner in favour of the Euro wrong Iceland is not in the EU It works through Norway and both have trade agreements with the EU Neither are full members.Iceland now wants to be candidate list no financial surprise and Norway strongly doesn t want to be The peoples of Sweden want out but the govt is not keen on the penalty clauses.There have been meetings to consider a nordic block.This man is not the definitive nosiree.Taking in , I hav [...]

    9. To say i am totally p ed off is to water down my feelings enormously having just written out a review of this book which took me an hour my computer has chosen to wipe it and, being a total luddite, i have no idea how to retrieve it As i went along I was removing the clips from the pages which had struck me as provoking, incisive, witty etc Now i look at a pile of magnetic page markers and a book wholly free of them Short of wading my way through again I have no way of tracing them How incredibl [...]

    10. I ve read and enjoyed other books from Lewis The Big Short, The Blind Side, Moneyball, Liar s Poker but this book was a severe disappointment.I think my main complaints can be summarized with three observations 1 This book seemed rushed, and not in depth 2 Lewis has demonstrated the ability to simplify complex situations, but in this book he instead relies on over simplistic cliches 3 as opposed to explaining and illuminating, he seems to have an axe to grind a biased viewpoint he is trying to p [...]

    11. Who knew it could be so enjoyable reading about the financial crisis, explained with examples from several key areas of the world Fascinating Iceland, Greece, Ireland, USA these are some of the countries in what he calls the New Third World We have been undone by our ancient lizard nature of greed, where short term satisfaction overwhelms common sense Hilarious and sobering all at once.

    12. As a huge Michael Lewis fan, I was a bit disappointed by this book The concept was neat, but the lack of an overall narrative and the length of the five stories made them somewhat shallow Even the best of the bunch the US won t tell you anything you don t already know.

    13. Ever wonder just how the global economy got into such a mess With a generous dose of humor, author and financial guru Michael Lewis turns his attention to the new Third World, that is, Europe And of course, the United States.While other financial writers can make eyes glaze over as they detail the markets and throw around acronyms like ECB European Central Bank and IMF International Monetary Fund , Lewis has a rare gift for making economics personal In Boomerang Travels in the New Third World, h [...]

    14. I puzzled over the title of Michael Lewis s book Boomerang Travels in the New Third World , as the word boomerang does not appear once throughout It confused me until I began to piece together what exactly Lewis was trying to say between the lines.Lewis s books are all about what s between the lines He is all about the subtle extrapolation of meanings and hidden meanings lurking beneath the subject matter In his wonderful book, Moneyball , which was ostensibly about baseball and the economics of [...]

    15. With a subtitle like Travels in the New Third World, you might pick up Boomerang expecting to read about Michael Lewis tramping through New Orleans and the Deep South, looking at people whose savings and livelihoods were wiped out by the financial crisis and the squalor they deal with on a daily basis Instead, you get a gleeful travelogue of all the countries he s visited in the last year and a half, complete with rambling diatribe about how the financial crisis affected them and snide comments [...]

    16. Michael Lewis turns his curiosity on the wider world after the financial debacle of 2007 and the success of his book The Big Short Here he attempts to answer a few questions How did the crisis unravel overseas, what was the role of European banks, and how did governments and investors deal with the disaster Then he returns home to America to look at state failures, California specifically, in the aftermath I listened to the Recorded Books edition of this book, and Lewis has a laugh in his voice [...]

    17. Economics books can be depressing, especially the you learn about how the world s markets move I read Michael Lewis s The Big Short a few years ago In that book, he covered the subprime mortgage market that lead to the 2007 housing bubble collapse, and the most shocking takeaway there was not that people were greedy and short sighted, but that all the experts, the brokers, the realtors, the bankers, the Federal Reserve officials, the Big Money Men didn t actually have a clue You or I could prob [...]

    18. Michael Lewis has a remarkable gift for giving insight through stories Each of the five sections of the book was fascinating in a different way how various countries reacted to having a big pot of seemingly free money on offer, how they responded when things didn t turn out as well as they hoped, and what that says about the national character of each What I found most fascinating about the story of Iceland was not in the book, but in the comments of a friend who lives there Because Iceland didn [...]

    19. This book is a collection of articles written for Vanity Fair about the sovereign debt crisis that happened in the aftermath of the global recession in 2008 I didn t know about this book until I was perusing my library s non fiction shelves and saw Lewis name on another economic book I had to read it, and so glad I did The reader is taken to Iceland, Ireland, Germany, Greece, and finally Southern California one of the biggest areas of the mortgage meltdown that triggered the recession I learned [...]

    20. Some adjectives that describe this collection of essays by Michael Lewis smart, clear, entertaining, breezy, moderately informative They are fun to read, and though not heavily researched, probably accurate as far as they go Each of the five essays collected here first appeared, in slightly different form, in Vanity Fair Those dealing with foreign economies Greece, Iceland, Ireland, Germany appear to be based on visits Lewis made to the countries in question between late 2008 and mid 2011 My Iri [...]

    21. I read these essays on Iceland, Greece, Ireland, Germany and California when they were first published in 2009 10 11 in Vanity Fair It is hard re reading them now again in book form and not think Michael Lewis is a GOD IF you haven t read these, go to the Library, buy the book GET off your butt, go to Vanity Fair and start reading his essays vanityfair search quer After you ve read this read The Big Short Inside the Doomsday Machine, also by Michael Lewis That is probably the most important fina [...]

    22. After The Big Short, this is a weird book Lewis almost completely abandons the Napoleonic narrative of history suggested by The Big Short in this one, where both success and disaster, no matter how broadly written, is basically the result of the choices of special people who are able to exploit unique opportunities to create economy shaking results There s almost none of that here Whereas the American crisis seems to be the result of a few very smart people either creating or identifying a gener [...]

    23. Michael Lewis is the author of the blockbuster Liar s Poker from 20 years ago soon to be a major motion picture, by the way Lewis has recently done a bit of financial disaster tourism as he calls it and the results are in his latest book, Boomerang.I bought it for Wilhelm but made the mistake of leaving it lying around and yesterday I did what I said I would not do and started reading it And couldn t put it down Fortunately it s short.In an attempt to figure out what happened to the euro and wha [...]

    24. What goes around, comes around following the financial meltdown around the worldIf you re scratching your head over the financial news from Europe these days and wondering what on earth has been happening in Greece, Ireland, and elsewhere that has everyone, especially the Germans, in a state of panic, Michael Lewis will make it all clear to you with his customary straight talk, humor, and insight Boomerang a collection of Lewis articles for Vanity Fair on what he calls financial disaster tourism [...]

    25. Thanks to an reviewer whose review is no longer there , I was able to get this book of previously published articles via Lexis Nexis and the Vanity Fair website I hadn t heard of Michael Lewis until I saw his interview for this book on The Daily Show yeah, I don t get out much Anyway, free book in hand, I thoroughly enjoyed his observations about the meltdowns all over Europe, even if I never completely understood WTF it was all about But if the people in charge had no clue what they were doing [...]

    26. Two interesting and intersecting things from the weekend Towards the end of Boomerang, Michael Lewis quotes Peter Whybrow, a British neuroscientist, who says that dysfunction in American society is a by product of America s success In Whybrow s book American Mania he explores the concept that the human brain has evolved in an environment defined by scarcity the brain is not designed for abundance The reptilian core predominates When faced with abundance, the brain s ancient reward pathways are d [...]

    27. Michael Lewis is a great storyteller, and the books I like the best are when he connects the story to a bigger picture In this book he comes up a marvelous metaphor to explain the root cause of the financial crisis alone, in a dark room with a big pile of money and easy credit, how did different countries react when it seemed they could grab the cash and get away with it The results range from the na ve Icelanders, who turned their entire country into a giant hedge fund interviewing an Icelander [...]

    28. I m not a big reader of newspapers or watcher of the news, mostly as the news these days is reported as quickly as possible with the barest of facts and, for larger issues like the economic troubles of recent years, almost no understanding of the circumstances for context That s not to say I m not interested, but I would only be interested in reading about the financial woes of late through a writer who could write, not as an economist or academic, but a true writer, and could make the subject c [...]

    29. 4 stars Wow This was excellent I m very happy to have this eye opening knowledge.The entertainment value is the strange incompetence and stupidity of people But it is also depressing Terrible things are happening to ordinary people I loved hearing it as an audiobook, educating me while I was doing other things Reading this as a physical book might be less desirable for me In the book the author describes himself as a financial disaster tourist He travels to and writes about five areas Iceland, G [...]

    30. Boomerang is a surprisingly entertaining book about the recent economic collapse s Author Michael Lewis undertakes what he calls something like a financial disaster vacation and visits, in turn, Iceland, Greece, Germany, and ultimately, California In each locale, he writes about the causes and results of their particular version of economic problems while bitingly satirizing their cultures The book is pretty enlightening and definitely amusing Lewis is fascinated by the human capacity for greed [...]

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