Economic Conditions in The Books Store

"At the most chaotic juncture in Iraq'' civil war, a new law is unveiled that will allow Shell and BP to claim the country's vast oil reserves… Immediately following September 11, the Bush Administration quietly outsources the running of the 'War on Terror' to Halliburton and Blackwater… After a tsunami wipes out the coasts of Southeast Asia, the pristine beaches are auctioned off to tourist resorts… New Orleans residents, scattered from Hurricane Katrina, discover that their public housing, hospitals and schools will never be re-opened." Klein not only kicks butt, she names names, notably economist Milton Friedman and his radical Chicago School of the 1950s and 60s which she notes "produced many of the leading neo-conservative and neo-liberal thinkers whose influence is still profound in Washington today." Stand up and take a bow, Donald Rumsfeld.

In 1999, in The Return of Depression Economics, Paul Krugman surveyed the economic crises that had swept across Asia and Latin America, and pointed out that those crises were a warning for all of us: like diseases that have become resistant to antibiotics, the economic maladies that caused the Great Depression were making a comeback. In the years that followed, as Wall Street boomed and financial wheeler-dealers made vast profits, the international crises of the 1990s faded from memory. But now depression economics has come to America: when the great housing bubble of the mid-2000s burst, the U.S. financial system proved as vulnerable as those of developing countries caught up in earlier crises and a replay of the 1930s seems all too possible.

In this new, greatly updated edition of The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States, and the world as a whole, up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken to contain the crisis, and turn around a world economy sliding into a deep recession. Brilliantly crafted in Krugman's trademark style--lucid, lively, and supremely informed--this new edition of The Return of Depression Economics will become an instant cornerstone of the debate over how to respond to the crisis.

This is a vitally important book--one which should be read whether you support Barack Obama or not.

It's a concisely reasoned and elegantly written essay on how a truly courageous president could lead us forward. A slender volume, it very usefully sweeps us past the often-overwrought speculation about whether this will or won't be a "transformative" election--akin to Lincoln's, Roosevelt's, JFK's, and even Ronald Reagan's--and on to the real questions of what such an election might accomplish, how, and why.

Obama's Challenge assumes Obama will be elected, but its author is hardly a captive partisan. As a highly regarded journalist and deft policy analyst, Robert Kuttner has been covering presidential elections--as well the politics of governance in the four years between them--for more than three decades. Experience has convinced him that the size and complexity of the problems America and the world are facing today requires an extraordinarily gifted leader--and he is willing here to affirm that Barack Obama might well be that person.

The book's unique contribution, however, is to shows us that the sheer magnitude of those problems will require a President Obama to use his gifts for specific ends--and what those ends should be. We must repair, Kuttner persuades us, the enormous damage that's been done over the past 40 years by heedless business deregulation, careless globalization, massive deficits, environmental neglect, arrogantly unilateral use of military power, increasingly regressive tax system, and most important, by a relentless denigration of the clear value of government itself by those in the highest public offices--even though democratic government has always been and is now, the precondition, not the enemy, of America's past achievement and future hope. In doing so, he cogently explains how derelict conservative ideology, combined with a deformed bipartisanship, led to this situation, how presidents of great potential have in the past became transformative leaders--and how President Obama could take up the promise he offers now, and shape it into the world we need.

Kuttner is refreshingly realistic nonetheless about the roadblocks and pitfalls ahead. Hardly utopian himself, he urges Obama--and his supporters--to grasp the full requirements for transformative change in terms of leadership and values.

In the past, Kuttner has shown himself to be highly adept at parsing complex policy alternatives, but he somberly cautions the new president away from such a path by quoting Lincoln's dictum, "With public sentiment, nothing can fail; without it, nothing can succeed." What he elegantly demonstrates instead is that Obama must mobilize the country by helping us take the imaginative steps forward that will allow us together to remake--and redeem--the nation. And if Obama takes time to read this essay before November, it will significantly enhance his prospects of first reaching the White House.

No one can possibly know what lies in store for an Obama presidency--or whether he will in fact reach the White House. This is the only book, however, to cogently explain why and how we must tackle now the great problems that have been so so carelessly created, and by reflecting on earlier transformative presidencies, offers us the map by which President Obama (and we) might chart a truly tranformative presidency.

Since the early 1980s, the United States has experienced a wave of prosperity almost unprecedented in history in terms of wealth creation, new jobs, and improved living standards for all. Under the leadership of Presidents Ronald Reagan and Bill Clinton, Americans changed the incentive structure on taxes, inflation, and regulation, and as a result the economy roared back to life after the anti-growth, high-inflation 1970s.

Now the rest of the world is following the American economic growth model of lower tax rates, more economic freedom, and sound money. Paradoxically, one country is moving away from these growth policies and putting its prosperity at risk -- America.

On the eve of a critical presidential election, Laffer, Moore, and Tanous provide the factual information every American needs in order to understand exactly how we achieved the prosperity many people have come to take for granted, and explain how the policies of Democrats Barack Obama, Hillary Clinton, and Nancy Pelosi can cause America to lose its status as the world's growth and job creation machine.

Provocative, personal, and inspirational, The Green Collar Economy is not a dire warning but rather a substantive and viable plan for solving the biggest issues facing the country—the failing economy and our devastated environment. From a distance, it appears that these two problems are separate, but when we look closer, the connection becomes unmistakable.

In The Green Collar Economy, acclaimed activist and political advisor Van Jones delivers a real solution that both rescues our economy and saves the environment. The economy is built on and powered almost exclusively by oil, natural gas, and coal—all fast-diminishing nonrenewable resources. As supplies disappear, the price of energy climbs and nearly everything becomes more expensive. With costs and unemployment soaring, the economy stalls. Not only that, when we burn these fuels, the greenhouse gases they create overheat the atmosphere. As the headlines make clear, total climate chaos looms over us. The bottom line: we cannot continue with business as usual. We cannot drill and burn our way out of these dual dilemmas.

Instead, Van Jones illustrates how we can invent and invest our way out of the pollution-based grey economy and into the healthy new green economy. Built by a broad coalition deeply rooted in the lives and struggles of ordinary people, this path has the practical benefit of both cutting energy prices and generating enough work to pull the U.S. economy out of its present death spiral.

Rachel Carson's 1963 landmark book Silent Spring was the pivotal ecological examination of the last century. Now, rising above the impenetrable debate over the environment and the economy, Van Jones's The Green Collar Economy delivers a timely and essential call to action for this new century.

Enter James K. Galbraith, the iconoclastic economist. In this riveting book, Galbraith first dissects the stale remains of Reaganism and shows how Bush and company had no choice except to dump them into the trash. He then explores the true nature of the Bush regime: a "corporate republic," bringing the methods and mentality of big business to public life; a coalition of lobbies, doing the bidding of clients in the oil, mining, military, pharmaceutical, agribusiness, insurance, and media industries; and a predator state, intent not on reducing government but rather on diverting public cash into private hands. In plain English, the Republican Party has been hijacked by political leaders who long since stopped caring if reality conformed to their message.

Galbraith follows with an impertinent question: if conservatives no longer take free markets seriously, why should liberals? Why keep liberal thought in the straitjacket of pay-as-you-go, of assigning inflation control to the Federal Reserve, of attempting to "make markets work"? Why not build a new economic policy based on what is really happening in this country?

The real economy is not a free-market economy. It is a complex combination of private and public institutions, including Social Security, Medicare and Medicaid, higher education, the housing finance system, and a vast federal research establishment. The real problems and challenges -- inequality, climate change, the infrastructure deficit, the subprime crisis, and the future of the dollar -- are problems that cannot be solved by incantations about the market. They will be solved only with planning, with standards and other policies that transcend and even transform markets.

Bestselling author and renowned economic forecaster Harry S. Dent, Jr., has observed these trends for decades. As he first demonstrated in his bestselling The Great Boom Ahead, he has developed analytical techniques that allow him to predict the impact they will have. The Great Depression Ahead explains "The Perfect Storm" as peak oil prices collide with peaking generational spending trends by 2010, leading to a more severe downtrend for the global economy and individual investors alike.

He predicts the following:

• The economy appears to recover from the subprime crisis and minor recession by mid-2009 -- "the calm before the real storm."

• Stock prices start to crash again between mid- and late 2009 into late 2010, and likely finally bottom around mid-2012 -- between Dow 3,800 and 7,200.

• The economy enters a deeper depression between mid-2010 and early 2011, likely extending off and on into late 2012 or mid-2013.

• Asian markets may bottom by late 2010, along with health care, and be the first great buy opportunities in stocks.

• Gold and precious metals will appear to be a hedge at first, but will ultimately collapse as well after mid- to late 2010.

• A first major stock rally, likely between mid-2012 and mid-2017, will be followed by a final setdback around late 2019/early 2020.

• The next broad-based global bull market will be from 2020-2023 into 2035-2036.