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Obamanomics: How Bottom-Up Economic Prosperity Will Replace Trickle-Down Economics [Kindle Edition]

John R. Talbott
3.4 out of 5 stars  See all reviews (23 customer reviews)

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Taking a Stand: Moving Beyond Partisan Politics to Unite America
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Book Description

Bestselling author John R. Talbott, who predicted the housing and mortgage crisis, pictures in Obamanomics--written well in advance of the historic 2008 elections--a Barack Obama presidency based on justice and cooperation—principles that have not held sway in Washington, DC, for quite some time. Talbott's powerful grasp of finance allows him to connect the issue of financial inequality in America with our need as a people to embrace change.
Obama has shown he knows that divisions among races, religions, and political views have prevented Americans from coming together to solve the most important problems of our age. Obamanomics, infused with Obama's speeches, campaign policy statements, and other writings, describes a government acting according to democratic principles to enact lobbying reform, get our economy moving again, fix our healthcare system, slow global warming, prevent unnecessary wars, improve education, address the aging of our population, find alternative energy sources, and bring about housing, mortgage, and banking reform.

Editorial Reviews

From Publishers Weekly

Starred Review. Author, media commentator and former investment banker Talbott (The Coming Crash in the Housing Market) gives fiscal politics a shot of excitement and, yes, hope as he explores presidential nominee Barack Obama's proposed bag of economic tricks. With reasoned but brutally blunt arguments, topics like corporate lobbying turn improbably fascinating; Talbott explains the system and its problems, and provides simple charts that will make average Americans blanch. Talbott delineates the differences between top-down and bottom-up economics, explaining the latter's advantages and how Obama's proposed policies will take us in the direction of greater economic justice and opportunity for average citizens. Quoting Obama at length, Talbott gives the impression of a man with the wisdom and will to reform many areas: healthcare, social security, housing and labor. Talbott does warn, however, that "if Obama goes after the special interests, he will be taking on almost all of corporate America... and the most powerful political organizations," and that "common sense would dictate that you would have to bet against him"-but only if "you had not heard Obama speak." Even if one disagrees with the solutions, Talbott will illuminate in quick order some vital issues for voters and taxpayers.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

About the Author

A former investment banker for Goldman Sachs and Visiting Scholar at UCLA's Anderson School of Management, John R. Talbott is the author of six books on economics and politics, including Obamanomics. He has written for The Wall Street Journal, The Financial Times, and The Boston Globe, and appeared as a commentator on CNN, Fox, CNBC, and CBS.

Product Details

  • File Size: 436 KB
  • Print Length: 227 pages
  • Page Numbers Source ISBN: 1583228659
  • Publisher: Seven Stories Press; 1 edition (January 4, 2011)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B003R7KZTY
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Lending: Not Enabled
  • Amazon Best Sellers Rank: #1,663,372 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Most Helpful Customer Reviews
46 of 55 people found the following review helpful
3.0 out of 5 stars Clear, but disappointing August 16, 2008
Please don't get thrown off with an impression of a three star rating. This book has its strong points - it has clear and crisp prose, the section on home ownership is great (not surprising given the author's reputation), he avoids getting bogged down in statistics, and he goes to painful lengths explaining a few areas where he disagrees with what Obama presents in his speeches. Unfortunately, as a complete volume, I walked away with the impression that this is a summary of Obama's policy views, with a little bit of the author's opinion sprinkled in. Starting every chapter with an excerpt of an Obama speech is good propaganda, but lacks policy analysis depth. With a title of Obamanomics, I was hoping for a better explanation of why bottom-up economics is better than trickle-down, but instead I bought 200 pages of policy summary, a lot I could have gotten free off a website. Perhaps in this election year, this book will convince some swing voters who want a brief summary of how Obama will possibly be different, but explanations of why he will be different are lacking.
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29 of 38 people found the following review helpful
1.0 out of 5 stars Horrid July 19, 2009
I cannot believe that this horrid excuse for a book was ever published. I only got 1/2 way through before I literally threw it in the garbage. Not only due to the shoddy writing style...but for god sakes, look at the end notes that he incessantly refers to. After the first mention of statistics I thought something seemed a little fishy. This buffoon of a writer actually (and repeatedly) cites his own previous publications, disreputable sources...and Wikipedia. You would be far better off having a discussion on the subject with your waitress at Denny's.
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6 of 8 people found the following review helpful
2.0 out of 5 stars Obamanomics pure politics not economics September 29, 2011
By Gderf
Ignoring the gap between rhetoric and performance, this reads like Talbott listens to what Obama says, while seeming blind to what he does. The book is based on campaign rhetoric rather than performance. The book starts wrong at the very first paragraph of the preface where it is claimed that Obama does not assign blame for current problems. Nearly three years into his administration Obama still prefaces most speeches with the statement that he inherited his problems. He well supports the Democratic party technique of covering its mistakes with the philosophy that one bad administration deserves another. Talbott gets the economics wrong in blaming the Bush tax cuts for the inherited debt. There is little mention of the effects of NAFTA. Talbott ignores the economics of war, where Obama policy follows Bush to the letter in spite of campaign promises. There is unsubstantiated denigration of supply-siders who concentrate on expanding production rather than over promising on the distribution side. Failure of stimulus programs was perhaps not clear when the book was written in 2008. Talbott hopes that Obama has foresight. The book was too early to see the monstrosity called 'Obamacare' or the subsequent economic failure. I wonder what Talbott thinks now.

Covering specifically the following topics from the outline:

1.Economic Justice
2.Economic Opportunity
3.The Current Financial crisis
4.The Biggest Problem: Corporate Lobbying
5.Globalization and Jobs
6.Global Warming and Energy Policy
7.Affordable Healthcare
8.Aging of the Population
9.Cooperation is the Key
10.Ethics and Economics

1. Talbott (and Obama) make a fundamental ideological error of equating equality with equity.
Earmarks have been extended not reduced.
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17 of 25 people found the following review helpful
3.0 out of 5 stars Liberty Vs. Equality September 17, 2008
I read this book with an open mind and a longing for the insights to Obama and while Talbott's writing was clear, it was a bit naive. His insistence on economic justice as the fix to our financial issues is nothing more than redistribution of wealth. His disdain for Americans who want a 12000 square foot house and a Hummer reveals a deep bias. Of course no one needs that much space, but in this country we value liberty and freedom to choose. It's not the governments place to decide what we need and/or want.
One of Obamas campaign promises is to raise taxes on the wealthy, those making over $250K a year. Talbott says the current system 'gives money to top earners", when in fact the system allows top earners to keep more of the money they have earned. I think this basic difference in economic viewpoint is what irked me the most, being one of those 'lucky' few that Obama considers rich. He seems to know that the 'rich will not reinvest their extra money, they will put in a savings account. This is how it works. I have two kids in private college. They couldn't get into the UC system for their majors because they were impacted. I pay 40K a year, per student. I am too rich to qualify for any aid. So any and all extra money we get to keep is going to private colleges.
Most people considered wealthy work just as hard as those who make less money, so it's very difficult to not see Obama's policies as nothing more than socialism wrapped in a pretty package and topped with a pinch of guilt.
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5 of 7 people found the following review helpful
3.0 out of 5 stars Very interesting December 14, 2008
By Bloose
Format:Paperback|Verified Purchase
I found this book very interesting but not quite what I expected. I was expecting a more detailed explanation of exactly why bottom up economics will work much better than trickle down has. With historical data or accepted financial theory to back it up. This is an argument I have been making for years and was hoping this would give me some concrete facts and statistics to support this idea. A lot of the book instead were suggestions by the author of how Obama should run his administration. I agree with much of it, though not all, but am still left with little historic proof of the concept.

I definitely recommend the book because as I said there are some very interesting ideas in it.
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Most Recent Customer Reviews
4.0 out of 5 stars Four Stars
easy read
Published 7 months ago by J. Michael
1.0 out of 5 stars Written by a Liberal Shill
who is either clueless in politics and therefore is a shill by ignorance or has an agenda and, therefore, is a shill by conviction. Read more
Published 22 months ago by oortcloud
1.0 out of 5 stars Didn't work, did it?
I saw this in a library sale. No takers. What a surprise.

This was published in 2008. In 2013 we are no better off. Read more
Published on April 14, 2013 by Wesley Clark
1.0 out of 5 stars What a funny book! Totally ignores reality!
My title reflects the utter disconnect between the flowery speeches in this book and the clear recent record. Read more
Published on January 15, 2010 by M. Webb
3.0 out of 5 stars Interesting book
This book is heavily based on Obama's speaches (writings)
and explains his good intentions in regard to politics
and economy.
Published on September 12, 2009 by Andrew Weissman
5.0 out of 5 stars enters new approach to old problems
Ever since someone coined "Reaganomics" to refer to President Ronald Reagan's economic policies, it has become standard practice to attach "-nomics" to nearly every noun. Read more
Published on July 19, 2009 by V.H. Amavilah
5.0 out of 5 stars Great book for the liberals!
I thought this book was fascinating! It revealed so much about politics that I never really paid attention to, especially lobbying. Read more
Published on July 6, 2009 by E. Umana
1.0 out of 5 stars Thinly Veiled Socialist Manifesto
It sounds good, but if you really examine all the wonderful things Obama is going to do, it adds up to Socialism. Read more
Published on October 8, 2008 by Land of Little Rain
5.0 out of 5 stars The Economics of Common Sense
This is perhaps the best summary of the issues facing America today - economic and political - that has ever been assembled in one place. Read more
Published on October 3, 2008 by John Richards
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More About the Author

John offers financial consulting advice on a very personal and confidential basis to individuals and families. You can learn more about his One on One consulting activities at

John R. Talbott is the bestselling author of nine books on economics and politics that have accurately detailed and predicted the causes and devastating effects of this entire financial crisis including, in 2003, The Coming Crash in the Housing Market. In 2004, he correctly identified corporate and banking lobbyists and big corporate money in politics as the major underlying cause of the current crisis with, Where America Went Wrong. In January 2006, he called the absolute peak month of home prices in the US by releasing, Sell Now! The End of the Housing Bubble and warned that the problem was not local, or even national, but international. In 2008, his book, Contagion: The Financial Epidemic That Is Sweeping the Global Economy predicted the subprime mortgage problem developing in the US would mutate and grow and infect not only prime mortgages, but other markets such as the stock market, commercial real estate, the municipal bond market, as well as threaten the solvency of banks and governments around the globe leading to a very long, deep and painful global recession. In 2009, The 86 Biggest Lies on Wall Street exposed the ineptness of the government's response to the crisis and the futility of enacting real reform of Wall Street when Wall Street itself is the biggest lobbyist of our congress.

Formerly, an investment banker for Goldman Sachs and a Visiting Scholar at UCLA's Anderson School of Management, Talbott has written peer reviewed academic research on democracy, inequality, AIDS prevention and developing country economics and has acted as an economic adviser to Jordan and Russia. He has made presentations on economics and politics throughout the United States and in Italy and Australia. He graduated from Cornell's School of Engineering and received an MBA from UCLA. His work has appeared in the Wall Street Journal, the Financial Times, the Boston Globe, the San Francisco Chronicle, the Herald Tribune, the New Republic, the Huffington Post and He has appeared as a financial expert on television for CNN, CBS, Fox News, CNBC, FBN, CSPAN and MSNBC as well as on hundreds of radio programs. Talbott, whose family has lived in Kentucky for 230 years is the son of a career Army officer, is 57 years old, single, an avid college football and basketball fan and lives on the left coast with his faithful companion, Boca Jr., who rarely objects to any of Talbott's writings or politics except when it is time to go for a walk.

The media can contact Talbott at as well as anyone who might be interested in discussing possible speaking engagements. Those interested in learning more about Talbott's one on one consulting service can find information here


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