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The media tells us that "deregulation" and "unfettered free markets" have wrecked our economy and will continue to make things worse without a heavy dose of federal regulation. But the real blame lies elsewhere. In Meltdown, bestselling author Thomas E. Woods Jr. unearths the real causes behind the collapse of housing values and the stock market--and it turns out the culprits reside more in Washington than on Wall Street.And the trillions of dollars in federal bailouts? Our politicians' ham-handed attempts to fix the problems they themselves created will only make things much worse.
Woods, a senior fellow at the Ludwig von Mises Institute and winner of the 2006 Templeton Enterprise Award, busts the media myths and government spin. He explains how government intervention in the economy--from the Democratic hobby horse called Fannie Mae to affirmative action programs like the Community Redevelopment Act--actually caused the housing bubble.
Most important, Woods, author of the New York Times bestseller The Politically Incorrect Guide to American History, traces this most recent boom-and-bust--and all such booms and busts of the past century--back to one of the most revered government institutions of all: the Federal Reserve System, which allows busy-body bureaucrats and ambitious politicians to pull the strings of our financial sector and manipulate the value of the very money we use.Meltdown also provides a timely history lesson to counter the current clamor for a new New Deal. The Great Depression, Woods demonstrates, was only as deep and as long as it was because of the government interventions by Herbert Hoover (no free-market capitalist, despite what your high school history teacher may have taught you) and Franklin D. Roosevelt (no savior of the American economy, in spite of what the mainstream media says). If you want to understand what caused the financial meltdown--and why none of the big-government solutions being tried today will work--Meltdown explains it all. --This text refers to the Hardcover edition.
This book will help us accomplish just that.
Thomas Woods in his current book Meltdown assigns the blame for the fiscal recession, and impending depression, at the feet of the Federal Reserve.
As always, Thomas E. Woods Jr. has given us an excellent, concise, well written, very didactic, easy to understand, even entertaining book.
I bet the general public has a lot of misunderstanding about subjects of money, wealth, and economy. Read morePublished 4 months ago by WONG, Bun Raymond
The Austrian school is the only school of economic thought that has a reasonable explanation for business cycles. Read morePublished 5 months ago by David C. Read
The book was very informative and a an good read. Mr. Woods takes a complicated subject and makes it interesting and easy to understand. Read morePublished 6 months ago by Harry Potter