5 comments about The Volatility Machine: Emerging Economics and the Threat of Financial Collapse.

1. This book completely transformed the way I think about sovereign financial crises. Michael Pettis creates a simple yet elegant framework by which to think of sovereign crises, the fundametal problems which precede them and potential solutions. This book should be every finance minister's primary reference tool for the development of sovereign capital structure.



2. This is a MUST READ for institutional investors worldwide! For the first time I have a confident sense of what is at the core of emerging market instability. Now if only some government policy makers would read this (even they would understand it!), the causal conditions might start to improve.



3. Michael Pettis has succeeded in mystifying the collapse of EM economies. His approach is new and indeed very methodical. I found the book intellectually challenging and have learned quite a lot reading it. I highly recommend it for those who want to understand how LDC economies rise and fall. Having a background in corpporate finance is crucial to enjoying the book though.



4. One of the most common (mis)interpretations of the east Asian currency crises of the late 1990s is that they were caused by George Soros and other speculators, hedge fund principals for the most part, who shorted those currencies and the respective bonds in order to create a self-fulfilling prophecy.

   I was happy to se that Mr. Pettis knows better. He writes that he was in regular contact with three large macro hedge funds in 1997, in his capacity as an emerging markets specialist for Bear Stearns, "including the most famous of these, and our discussions about Asia generally centered on ways to gain protected access to LONG rupiah positions. There was very little interest in shorting the currency."

   Indonesia and its rupiah provides a particularly vivid example of the capital structure trap that Pettis adumbrates so admirably in this book.




5. I needed to have background knowledge of the Emerging Markets and this book was recommended by a colleague.

No comments about Basic Budgeting for Churches: A Complete Guide.

No comments about Collaborative Public Management: New Strategies for Local Governments (American Governance and Public Policy).

No comments about Public Finance.

4 comments about Local Government Dollars & Sense: 225 Financial Tips for Guarding the Public Checkbook.

1. Here is a "no holds barred" approach to describing "real life" shortcomings in handling public finances, and then providing tips to local government policy makers and managers on how to avoid a similiar circumstance.

   Len Wood writes from first hand knowledge and experience. He describes the situation; outlines the facts; details the results; and provides the reader with suggestions to lessen financial risk and/or failure in the expenditure of public funds.

   While the author's primary target is the newly elected official, the importance of this work to experienced elected and appointed public officals cannot be overstated. No one who has worked in the public sector can peruse this book without saying, "There, but for the grace of God, go I!"




2. What a delightful book. The author has presented his subject in an understandable and capitivating manner. He does this by using lots of real life vignettes to make his points. People who want to know what their local officials should and should not be doing will want to read this book.



3. Len Wood presents Dollars and Sense in a practical manner enabling readers to absorb its content. A must read book for those that "watch" their local governments, school districts and elected officials. Written for fast reading,yet covers the subject matter extensively. If you want to be certain your local government is working at its fullest potential, Dollars & Sense can be a great help to you.



4. As an elected Treasurer and local government finance director for the past several years, I found this book to be an excellent primer for all elected and appointed officials. The practical advice offered by Mr. Wood is based on his experience and input from his peers and is extremely valuable. The book is written in a very informal and concise way and should be required reading for all elected officials. In fact, I gave this book to each City Council member and they have all indicated that this book provided excellent financial advice.

No comments about Government and Not-for-Profit Accounting: Concepts and Practices.

5 comments about Rome Wasn't Burnt in a Day: The Real Deal on How Politicians, Bureaucrats, and Other Washington Barbarians Are Bankrupting America.

1. I'd always wanted to pick up this book when Joe started first promoting it on his show, and whole stacks of them found their way at the $1 store, so of course, who could pass up a book like this for just a buck?
   
   Anyway, didn't know what to expect, but man, a real eye-opener. It's one thing when you suspect something to be the case (all the cliches about gov't), and something else altogether when someone who was there told it like it was.
   
   I think the most interesting point that resonated with me was one I had long suspected - one party should never have complete control of washington, or the spending sprees will be out of control, no matter who it is.
   
   While the writing style was fun to read (I couldn't put the book down), at times it was disorganized, moving here, there, and everywhere throughout Joe's journey in congress, and at times there was a bit too much repetition. Otherwise, a great read.



2. Every thinking American should read this book. Written three years ago it remains as applicable today as then.
   
   Americans need to get aroused about our Washinton politicians and take back our country. Joe lambasts both political parties for their self serving interests and unwillingness to confront the real problems of our Nation.
   
   Read it...PLEASE



3. Reading this political book was a pleasure! The humor was always close to the surface, but steeped in what makes humor even more giddy - the mirror up to the uncomfortable truth. Most of the time anything coming from a political analyst such as Joe Scarborough would be subject of intense scrutiny from me since most politicos today are so polarized, but Joe shows that both sides of the issue are wrong. Now, don't get me wrong, one side (Democrats) is a little worse, but they just don't make excuses like the Republicans.
   
   Thanks, Joe, for showing us the truth with much fun and laughter mixed with tears.



4. Joe Scarborough's book "Rome Wasn't Burnt in a Day was written in 2004.
   The year 2004 maybe viewed as past history but wow, wow, wow! What a great history lesson Joe has given me! This is a very, very, must read to get the juicy, juicy on the going-on in Congress and in Washington.
   Like I always thought...there is enough blame for everyone!
   A great book for some back history... which is still happening and a good "inside" look.



5. This book is Joe Scarborough's memoirs from his participation as one of 73 members of the "class of 1994" or the "Republican Revolution" that went to Washington to change it for the better. The mission was only partially fulfilled and after reading this book you will understand why.
   
   In addition to being an entertaining read there is some educational information to be found in "Rome Wasn't Burnt in a Day."
   The seven criteria used by Citizens Against Government Waste in their definition of pork barrel spending is one example.
   
   The backstabbing and whining behind closed doors by members of both parties is almost comical untill you realize that was going on with elected officials that should be serving their constitutuents.
   
   Another point is that when it comes to "larding up" bills a lot of folks in Washington have no dignity when it comes to a potential oppurtunity.
   
   Mr Scarborough makes an interesting point in support of term limits. Those Congresspersons that followed through on their self-imposed term limits were usually more likely to cut spending.
   
   The author confirms what many political writers cite as a major problem in Washington, the special interests that buy votes, write bills, and benefit when the taxpayer gets stuck with the bill.
   
   Newt Gingich's fall was used as an example of what happens when the mob mentality overtakes a person's popularity. He also casts a little light on the political maneuverings and back-door deals surrounding Gingrich's demise.
   
   Joe Scarborough has written an "easy read" that is both entertaining and enlightening on how what happens in Washington can often derail the best intentions of dedicated public servants like some of the "class on '94".

1 comments about Real World Banking and Finance: A Dollars & Sense Reader, 5th Edition.

1. I am a college student and got assigned this book for one of my economics classes. The book took complicated material and made it very easy to understand.

5 comments about The Second Great Depression.

1. What a cop out! Now that his 2007-2020 Second Great Depression has failed to materialize with 2008 2/3rds over, it is being repackaged as a newly titled "debt" book. A warm welcome Warren to the rather full club of authors who predicted disaster on a timeframe that didn't happen. You failed simply because you ignored the greatest force in the economy - the consumer. Every economist knows that the GDP is made up 90%+ by consumer spending - 60-70% directly plus government spending of the 28% of income they take in taxes. In other words GDP is ALWAYS driven by demographics over the longterm. There IS a monstrous crisis coming based on demographics however - go read Arnold's The Great Bust Ahead (published 2002), in which all his predictions have come to pass so far and the "big one" left is yet to come on his 2010-2012 schedule.



2. With all of the doom and gloom in our financial markets, I wanted to take in a few authors opinions and try and come to my own conclusion. (Cramer is not my fortune teller) With that said, the author lays out a lot of the structural problems in the financial industry and predicts what he think will become of it. He has updated the original version to include some of the latest information as well gloat (rightfully so) over being right on about 80% of his predictions.
   
   The more I read the book and realize that this guy has been quite accurate, the more I realize how dire our financial system is and how close to collapse we are. I applaud the author for his predictions but am not happy with his predictions for the future. So far, the best and most accurate doom and gloom book I've read.



3. One would expect a substantial number of facts and figures with a work like this. But in the opinion of this reviewer, the preponderence of same actually bogged this vital book down. Not for the average reader who lacks a basic understanding of economics. An aptitude for mathematics would also help someone to digest this material.



4. This book provided some interesting ideas about the future of the stock market. How much of it is valid, though? I have to admit that even with the stock market plummeting over the past two weeks, I still think this book's premise is a little shaky. After all, the author discounts other books that attempt to predict where the indices should be and claims they're simply data mining or are based on flawed concepts. In this book, the author tells a good story, but I'm not wholly convinced it's anything more than data mining with a good story.
   
   The second half of the book is unbearable, and I'm a guy who loves to analyze investments and do what-if calculations. It's filled with table after table, with repetitive information in between each set of tables. Why didn't the author keep the chapters simple and put the tables in an appendix?
   
   This book is in its second edition. I didn't read the first edition, but as the author claims in the introduction, the second edition contains the first edition text with second edition updates following each chapter. What's really disappointing is the minimal amount of content in these "updates." The charts aren't updated, the tables aren't updated, and the author doesn't even provide new sets of numbers in most cases. If I had purchased the first edition and then bought this one for an update, I would have been very unhappy.
   
   The book also suffers from HORRIBLE grammar. When describing changes to the second edition, the author says the first edition text has been corrected for grammar. I shudder to think about how poorly written the first edition must have been. (Or should I say that I shutter to think what the affect of the writing in the first addition would have had on me. In the author's credit, though, the primary grammatical error is using affect to describe effects.)
   
   I might have given this book four stars if it had been more carefully written, concise, and been more than just a simple story with a bunch of data mining. Moving the tables to the appendix would have helped, too. As it actual is, though, I give it two stars. It has some interesting parts, but a lot of it is a lot of content for only a little value. Grab the book from the library and save your money for the depression it says is coming.



5. The book was spot on regarding the current stock market meltdown. However, his advice to buy Treasury Inflation Protected Securities instead of stocks has not proven correct. So far his advice to buy TIPS has produced poor- in fact negativeinvestment results. And if there is in fact a deflationary period ahead, taking his advice on TIPS may end up costing you as much as listening to that moron Jim Cramer who told us to buy Google at 800, FCX at 80, COG at 40, and other HORRIBLE picks. But at least he correctly saw the current stock market meltdown, something all the cnbc experts didn't. Good book.[..]

2 comments about Public Budgeting Systems.

1. The book explains the topic in a clear manner. It creates understanding of the budgeting system even for non-finance people.



2. A step by step process of how a budget is really established. And hardly reduced. You'll be surprised at how this system works. And have all of your questions answered as to why certain policies in government can never change. A must read for anyone going into business management and politics.