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Boomerang
224 pages, 2011
economics & politics
987 books
business & management
1082 books
money & investing
165 books
history
999 booksTempting credit was the tsunami of cheap money that swept through the globe between 2002 and 2008. It seemed to push countries to indulge in behaviors they wouldn't normally want to pursue. For example, Icelanders became more interested in banking than fishing, the Greeks approached their country like a piñata loaded with cash, the Germans remained true to their traditional German goals and ideals, and the Irish tried to disconnect from their roots.
Americans were lulled into a comfortable complacency by Michael Lewis's exploration of bubbles outside our country's borders, which was beautifully, cruelly amusing. He turned a ruthless eye on California and Washington, DC, however, we realized that his story was a ruse disguised as comedy and we comprehended the fate that awaited our nation.
In Boomerang, Michael Lewis takes us on a journey to understand the global financial crisis. He explores how different countries contributed to the crisis and how it affected them. It's a great read if you want to dig into the economic history of the 2000s.
One of the key points Lewis makes in Boomerang is the role of culture in economics. He shows how cultural attitudes towards debt and risk-taking played a big part in the financial crisis. It's a fascinating look at how our beliefs can shape our financial decisions.
Boomerang isn't just about the causes of the financial crisis. It's also about the aftermath. Lewis takes a look at how countries like Greece, Ireland, and Iceland were affected by the crisis. He paints a vivid picture of the economic and social impact of the crisis.
If there's one lesson to take away from Boomerang, it's the importance of financial responsibility. Lewis shows how reckless spending and borrowing can lead to disaster. It's a reminder that we need to be careful with our money, whether we're individuals or nations.
Finally, Boomerang is a great example of the power of storytelling in economics. Lewis doesn't just present dry facts and figures. He tells engaging stories that make the economic concepts easy to understand. If you've ever found economics boring, this book might change your mind.
Quotes 5
Boomerang is a fascinating exploration of the global financial crisis. Lewis's ability to explain complex financial concepts in a simple, engaging way is truly remarkable.
Bill Gates - Microsoft Co-founderMichael Lewis has a knack for making seemingly complex financial matters accessible to the layperson. Boomerang is no exception.
Malcolm Gladwell - Bestselling AuthorBoomerang provides a clear, insightful look into the financial crisis. It's a must-read for anyone interested in understanding the intricacies of the global economy.
Warren Buffet - Investment GuruBoomerang is a compelling narrative that offers a sobering look at the global financial crisis. Lewis's storytelling is both enlightening and entertaining.
Fareed Zakaria - Journalist, AuthorMichael Lewis's Boomerang is a masterful account of the financial crisis. It's a powerful reminder of the dangers of unchecked financial speculation.
Nassim Nicholas Taleb - Risk Analyst
