This week we’ve presented excerpts from the latest President’s Letter. If you’ve missed them, catch up with posts on the dismal month of May and the Euro zone crisis. Roger Hewins comments on the latest job numbers and proposes a few reasons to stay calm through the downswing, and puts the Euro debt crisis into perspective. Today’s post from the President’s Letter concerns a new book from the renowned financial journalist Michael Lewis.
Sometimes you need to laugh about all this or you will cry. Michael Lewis finds a way to provide some good laughs as he examines the very serious situation in Europe, and here at home as well. His book The Big Short was my favorite as a means to understand something about the mortgage crisis here.
His new book, Boomerang: Travels in the New Third World, takes us to Europe and beyond, to places where irresponsibility is raised almost to an art form, but in dramatically different ways. He ends up here in the Bay Area, after stopping in in L.A. to see Arnold the Governator. In San Jose and finally in bankrupt Vallejo, he looks at what happens when the numbers don’t work. Overall, the book is a remarkable journey which reveals in a humorous way how insane things can get at the very highest levels of government and business, a journey not to be missed.
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