The Great Deformation

CONTENTS......Page 8
INTRODUCTION......Page 12
PART I: THE BLACKBERRY PANIC OF 2008......Page 22
CHAPTER 1. PAULSON’S FOLLY: The Needless Rescue of AIG and Wall Street......Page 24
CHAPTER 2. FALSE LEGENDS OF DARK ATMS AND FAILING BANKS......Page 40
CHAPTER 3. DAYS OF CRONY CAPITALIST PLUNDER......Page 56
PART II: THE REAGAN ERA REVISITED: FALSE NARRATIVES OF OUR TIMES......Page 74
CHAPTER 4. THE REAGAN REVOLUTION: Repudiations and Deformations......Page 76
CHAPTER 5. TRIUMPH OF THE WARFARE STATE: How the Budget Battle Was Lost......Page 91
CHAPTER 6. TRIUMPH OF THE WELFARE STATE: How the GOP Anti-Tax Religion Was Born......Page 108
CHAPTER 7. WHY THE CHICKENS DIDN’T COME HOME TO ROOST: The Nixon Abomination of August 1971......Page 129
PART III: NEW DEAL LEGENDS AND THE TWILIGHT OF SOUND MONEY......Page 156
CHAPTER 8. NEW DEAL MYTHS OF RECOVERY......Page 158
CHAPTER 9. THE NEW DEAL’S TRUE LEGACY: Crony Capitalism and Fiscal Demise......Page 190
CHAPTER 10. WAR FINANCE AND THE TWILIGHT OF SOUND MONEY......Page 216
CHAPTER 11. EISENHOWER’S DEFENSE MINIMUM AND THE LAST AGE OF FISCAL RECTITUDE......Page 234
CHAPTER 12: THE AMERICAN EMPIRE AND THE END OF SOUND MONEY......Page 256
CHAPTER 13: MILTON FRIEDMAN’S FOLLY: Rise of the T-Bill Standard......Page 281
PART IV: THE AGE OF BUBBLE FINANCE......Page 300
CHAPTER 14. PORK BELLIES, FLOATING MONEY, AND THE RISE OF SPECULATIVE FINANCE......Page 302
CHAPTER 15. GREENSPAN 2.0......Page 341
CHAPTER 16. BULL MARKET CULTURE AND THE DELUSION OF QUICK RICHES......Page 364
CHAPTER 17. SERIAL BUBBLES......Page 382
CHAPTER 18. THE GREAT DEFORMATION OF CAPITAL MARKETS: How Wall Street Got Huge......Page 403
CHAPTER 19. FROM WASHINGTONTO WALL STREET: Roots of the Great Housing Deformation......Page 425
CHAPTER 20. HOW THE FED BROUGHT THE GAMBLING MANIA TO AMERICA’S NEIGHBORHOODS......Page 446
CHAPTER 21. THE GREAT FINANCIAL ENGINEERING BINGE......Page 464
CHAPTER 22. THE GREAT RAID ON CORPORATE CASH......Page 476
CHAPTER 23. THE RANT THAT SHOOK THE ECCLES BUILDING: How the Fed Got Cramer’d......Page 496
CHAPTER 24. WHEN GIANT LBOS STRIP-MINED THE LAND......Page 522
CHAPTER 25. DEALS GONE WILD: Rise of the Debt Zombies......Page 541
CHAPTER 26. BONFIRES OF DEBT AND THE ROAD NOT TAKEN......Page 558
PART V: SUNDOWN IN AMERICA: THE END OF FREE MARKETS AND DEMOCRACY......Page 570
CHAPTER 27. WILLARD M. ROMNEY AND THE TRUMAN SHOW OF BUBBLE FINANCE......Page 572
CHAPTER 28. BONFIRES OF FOLLY: Bernanke’s False Depression Call and the $800 Billion Obama Stimulus......Page 598
CHAPTER 29. OBAMA’S GREEN ENERGY CAPERS: Crony Capitalist Larceny......Page 619
CHAPTER 30. THE END OF FREE MARKETS: The Rampages of Crony Capitalismin the Auto Belt......Page 634
CHAPTER 31. NO RECOVERY ON MAIN STREET......Page 652
CHAPTER 32. THE BERNANKE BUBBLE: Last Gift to the 1 Percent......Page 670
CHAPTER 33. SUNDOWN IN AMERICA: The State-Wreck Ahead......Page 693
CHAPTER 34. ANOTHER ROAD THAT COULD BE TAKEN......Page 727
NOTE ON SOURCES......Page 734
INDEX......Page 740
ABOUT THE AUTHOR......Page 764