Boomerang: Travels in the New Third World

Boomerang: Travels in the New Third World

3.7 110
by Michael Lewis
     
 

View All Available Formats & Editions

“Lewis shows again why he is the leading journalist of his generation.”—Kyle Smith, ForbesSee more details below

Overview

“Lewis shows again why he is the leading journalist of his generation.”—Kyle Smith, Forbes

Editorial Reviews

Jessica Loudis - BookForum
“[Lewis’s] explanations of thorny financial processes are surprisingly compelling, his characters entertaining.”
Chuck Leddy - Boston Globe
“Lewis’s rare gift as a guide through the world of credit default swaps and sovereign debt doesn’t come simply from his deep understanding of how the global financial system works . . . also his skill as a storyteller, his ability to tell the larger tale through fascinating human stories of greed, excess, and self-delusion.”
Michiko Kakutani - New York Times
“Michael Lewis possesses the rare storyteller’s ability to make virtually any subject both lucid and compelling. . . . Combining his easy familiarity with finance and the talents of a travel writer, Mr. Lewis sets off in these pages to give the reader a guided tour through some of the disparate places hard hit by the fiscal tsunami of 2008, like Greece, Iceland and Ireland, tracing how very different people for very different reasons gorged on the cheap credit available in the prelude to that disaster. The book — based on articles Mr. Lewis wrote for Vanity Fair magazine — is a companion piece of sorts to The Big Short: Inside the Doomsday Machine, his bestselling 2010 book about the fiscal crisis. . . . Mr. Lewis’s ability to find people who can see what is obvious to others only in retrospect or who somehow embody something larger going on in the financial world is uncanny. And in this book he weaves their stories into a sharp-edged narrative that leaves readers with a visceral understanding of the fiscal recklessness that lies behind today’s headlines about Europe’s growing debt problems and the risk of contagion they now pose to the world.”
Boston Globe
Lewis’s rare gift as a guide through the world of credit default swaps and sovereign debt doesn’t come simply from his deep understanding of how the global financial system works . . . but also from his skill as a storyteller, his ability to tell the larger tale through fascinating human stories of greed, excess, and self-delusion.— Chuck Leddy
BookForum
[Lewis’s] explanations of thorny financial processes are surprisingly compelling, his characters entertaining.— Jessica Loudis
New York Times - Michiko Kakutani
“Michael Lewis possesses the rare storyteller’s ability to make virtually any subject both lucid and compelling. . . . Combining his easy familiarity with finance and the talents of a travel writer, Mr. Lewis sets off in these pages to give the reader a guided tour through some of the disparate places hard hit by the fiscal tsunami of 2008, like Greece, Iceland and Ireland, tracing how very different people for very different reasons gorged on the cheap credit available in the prelude to that disaster. The book — based on articles Mr. Lewis wrote for Vanity Fair magazine — is a companion piece of sorts to The Big Short: Inside the Doomsday Machine, his bestselling 2010 book about the fiscal crisis. . . . Mr. Lewis’s ability to find people who can see what is obvious to others only in retrospect or who somehow embody something larger going on in the financial world is uncanny. And in this book he weaves their stories into a sharp-edged narrative that leaves readers with a visceral understanding of the fiscal recklessness that lies behind today’s headlines about Europe’s growing debt problems and the risk of contagion they now pose to the world.”
Boston Globe - Chuck Leddy
“Lewis’s rare gift as a guide through the world of credit default swaps and sovereign debt doesn’t come simply from his deep understanding of how the global financial system works . . . but also from his skill as a storyteller, his ability to tell the larger tale through fascinating human stories of greed, excess, and self-delusion.”
BookForum - Jessica Loudis
“[Lewis’s] explanations of thorny financial processes are surprisingly compelling, his characters entertaining.”
Michiko Kakutani
Michael Lewis possesses the rare storyteller's ability to make virtually any subject both lucid and compelling. In…Boomerang, he actually makes topics like European sovereign debt, the International Monetary Fund and the European Central Bank not only comprehensible but also fascinating—even, or especially, to readers, who rarely open the business pages or watch CNBC…Mr. Lewis's ability to find people who can see what is obvious to others only in retrospect or who somehow embody something larger going on in the financial world is uncanny. And in this book he weaves their stories into a sharp-edged narrative that leaves readers with a visceral understanding of the fiscal recklessness that lies behind today's headlines…
—The New York Times
Carlos Lozada
Lewis has a wonderful talent for distilling complicated stories, whether bond trading in New York (Liar's Poker) or a baseball-analysis revolution in Oakland (Moneyball), in simple terms and with telling detail. Boomerang…doesn't disappoint on this score.
—The Washington Post
Publishers Weekly
Essentially an offbeat travelogue, Lewis's latest examines the recent global financial crisis by visiting the locales that have faltered beyond reasonable expectation. Though journalistic, there is a distinctly anthropological approach to vivid depictions of how particular cultural values contributed to such a bizarre, devastating series of events. In his dynamic narrative, Lewis simplifies complex financial systems without condescension, applies a degree of rationality to absurd decisions, and presents key individuals' profiles without denigration. Dark, deadpan humor is injected throughout: Iceland as a nation of fishermen-cum-hedge fund managers with "no idea what they were doing”; Greece's "fantastic mess” of scandalous monasteries, tax-evasion and top-down corruption; Ireland's busted banks and stratospheric losses debilitating a now "distinctly third world” country. Germany is singled-out for its "preternatural love of rules” and naiveté regarding the so-called "riskless asset” while California tops the list of "America's scariest financial places” following their ratings downgrade and piling debts. Easily devoured in one sitting, Lewis (Moneyball) manages to gracefully explain what happened with a unique regard for both the strengths and weaknesses of humankind. (Oct.)
New York Times
“Michael Lewis possesses the rare storyteller’s ability to make virtually any subject both lucid and compelling. In his new book, Boomerang, he actually makes topics like European sovereign debt, the International Monetary Fund and the European Central Bank not only comprehensible but also fascinating… The book could not be more timely given the worries about Europe’s deepening debt crisis and the recent warning issued by Christine Lagarde, managing director of the I.M.F., that 'the current economic situation is entering a dangerous phase.'
Combining his easy familiarity with finance and the talents of a travel writer, Mr. Lewis sets off in these pages to give the reader a guided tour through some of the disparate places hard hit by the fiscal tsunami of 2008, like Greece, Iceland and Ireland, tracing how very different people for very different reasons gorged on the cheap credit available in the prelude to that disaster. The book — based on articles Mr. Lewis wrote for Vanity Fair magazine — is a companion piece of sorts to The Big Short: Inside the Doomsday Machine, his bestselling 2010 book about the fiscal crisis. Like that earlier book its focus is narrow. It doesn’t aspire to provide a broad overview of the debt crisis but instead hands the reader a small but sparkling prism by which to view the problem, this time from a global perspective.
At times Mr. Lewis can sound a lot like Evelyn Waugh: shrewd, observant and savagely judgmental, dispensing crude generalizations about other countries, even as he pokes fun at himself as a disaster tourist.
Mr. Lewis’s ability to find people who can see what is obvious to others only in retrospect or who somehow embody something larger going on in the financial world is uncanny. And in this book he weaves their stories into a sharp-edged narrative that leaves readers with a visceral understanding of the fiscal recklessness that lies behind today’s headlines about Europe’s growing debt problems and the risk of contagion they now pose to the world.”
Library Journal
The cheap credit available from 2002 to 2008 radically transformed societies worldwide, with Icelanders tossing aside their fishing gear to become bankers, for instance. Then the crunch came, and many of these societies are stumbling about as part of the "new Third World." As a greedy debtor nation, we're not so far behind. Lewis's books are always excellent and always best sellers, so this should be at the top of your list.
Kirkus Reviews
A world tour of nations that have collapsed financially or that played a role in the collapse of others. In his previous book, The Big Short (2010), Lewis dug deep into the housing-market failure that precipitated the economic collapse of 2007-08. Here the author tours Iceland, Greece, Ireland, Germany and California to compose a broader picture of what went wrong. Like Lewis' other bestsellers, this book is alternately wry, snarky, laugh-out-loud humorous, serious and, most importantly, filled with insights. The author is a master at explaining financially complex realms by casting them as narratives of individuals. In each place, he finds people famous, infamous and nearly anonymous who can fairly be rendered as villains or heroes. Each chapter started as an article for Vanity Fair, yet the seemingly disparate features coalesce nicely in the book. Lewis is willing to court danger by generalizing about the characteristics within each nation that led to unexpected consequences. As usual, the author delivers a nice balance of trenchant analysis and lucid writing. In regards to Greece, the most distressed nation of all, "it turned out, what the Greeks wanted to do, once the lights went out and they were alone in the dark with a pile of borrowed money, was turn their government into a piñata stuffed with fantastic sums and give as many citizens as possible a whack at it." An enlightening, scary journey.

Read More

Product Details

ISBN-13:
9780393343441
Publisher:
Norton, W. W. & Company, Inc.
Publication date:
09/04/2012
Edition description:
Reprint
Pages:
240
Sales rank:
151,784
Product dimensions:
5.30(w) x 8.10(h) x 0.70(d)

Meet the Author

Michael Lewis, the best-selling author of Liar’s Poker, The Money Culture, The New New Thing, Moneyball, The Blind Side, Panic, Home Game, The Big Short, and Boomerang, among other works, lives in Berkeley, California, with his wife and three children.

Brief Biography

Date of Birth:
October 15, 1960
Place of Birth:
New Orleans, LA
Education:
Princeton University, B.A. in Art History, 1982; London School of Economics, 1985

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >