PREVIEW

Endless Money: The Moral Hazards of Socialism (Book/ Hardcover)

Product Overview

A detailed look at how, and why, the American financial system has reached its current state

Today's economy and capital markets are faced with the long-term buildup of public and private credit. Furthermore, we face higher taxes, greater spending, and more debt. We are now at a critical crossroads and our leaders have few realistic solutions. Proposals calling for tax reforms or fewer regulations have fallen on deaf ears. In fact, U.S. democracy has become more socialist and reform is needed immediately. Endless Money is an examination of how the U.S. government and the country's financial systems have embraced socialism, and why cultural deterioration reinforces the trend and jeopardizes democracy. In it, author William Baker sees this socialism embodied in two things. The first is the socialization of income, the second is the socialization of credit.

Explores the present socialistic qualities of the American government and its financial system
Looks back at how today's conditions relate not just to the Great Depression, but ancient empires such as Rome
Calls for radical changes such as reduced regulatory power of the Federal Reserve, a considerable devaluation of the dollar in terms of gold, and repeal of income tax
Includes a Web site devoted to book, with recommendations, quotes from the financial community, and think tank contacts
Insightful and informative, Endless Money examines our current economic condition and describes what the United States can do to get back on the right economic track.


From the Inside Flap
While credit crises, which date as far back as the great Roman Republic, arenothing new, the meltdown of the financial sector in 2008 still took the world by surprise. With currency created at the click of a mouse—or produced in quantity when a central bank credits its balance sheet in exchange for government debt, mortgages, or the equally formless currency of other nations—an era of endless money was born. And now, we find ourselves in a very unenviable position.
Nobody understands this better than author William Baker—a financial professional with wover twenty-five years of experience in investment research and equity portfolio management. With Endless Money, he skillfully examines how the U.S. government and the country's financial systems have embraced socialism, and why cultural deterioration reinforces the trend and jeopardizes democracy. Along the way, Baker reveals how socialism is embodied in two things—the socialization of income and the socialization of credit—and discusses why this is so dangerous.

Page by page, you'll discover why today's economy and capital markets are facing the long-term buildup of public and private credit, and how—as we incur more debt through greater government spending, and take on higher taxes—our leaders fail to find few realistic solutions to this situation. Divided into six comprehensive parts, Endless Money offers an honest assessment of where we're heading and why we cannot continue down this road. Filled with in-depth insights and practical advice, this reliable resource:

Highlights how the combination of a centrally managed fiat currency system and a tax code that confiscates earned income, rather than mildly taxing changes in wealth, could producen a knockout punch to entrepreneurship and our society

Looks back at how today's conditions relate not only to the Great Depression, but also to the evolution of the Roman Republic

Calls for radical changes such as reduced regulatory power of the Federal Reserve, a considerable devaluation of the dollar in terms of gold, and repeal of income tax

Addresses the disturbing fact that individual character has given way to the state's taking over responsibility for indiscretions—financial or otherwise

While we've veered off the course that our Founding Fathers set for us, the financial crisis that began in 2008 may trigger a much more effective reexamination of our banking sector and the powers granted t

About the Author(s)