Book Bits: Six For Investors

● The Day the Markets Roared: How a 1982 Forecast Sparked a Global Bull Market
Henry Kaufman
Interview with author via Politico
Henry Kaufman, nicknamed Dr. Doom during his 26 years at Salomon Brothers, has a new warning. In his latest book, ‘The Day the Markets Roared: How a 1982 Forecast Sparked a Global Bull Market,’ he argues the influence of central banks has increased to the point that it might present its own risk to the financial system.
‘We’re moving to an environment, which I call statism, in which the federal government and the Federal Reserve dominate the economic and financial system. And that, at times, used to occur in wars. Not in peacetime,’ Kaufman said in an interview.

 

● What We Mean by the American Dream: Stories We Tell about Meritocracy
Doron Taussig
Summary via publisher (ILR Press/Cornell U. Press)
Doron Taussig invites us to question the American Dream. Did you earn what you have? Did everyone else? The American Dream is built on the idea that Americans end up roughly where we deserve to be in our working lives based on our efforts and abilities; in other words, the United States is supposed to be a meritocracy. When Americans think and talk about our lives, we grapple with this idea, asking how a person got to where he or she is and whether he or she earned it. In What We Mean by the American Dream, Taussig tries to find out how we answer those questions.

 

● Empire of Pain: The Secret History of the Sackler Dynasty
Patrick Radden Keefe
Review via The LA Times
As Keefe ably demonstrates, it was the Sacklers who dreamed up OxyContin as a solution to an anticipated revenue decline, and it was the Sacklers who insisted their powerful narcotic, the sort of drug previously reserved for terminal patients, be marketed aggressively and widely. That decision to push the drug as a treatment for common aches and pains kicked open a door. OxyContin rushed in first, but competitors followed; eventually they were joined by Mexican cartels dealing heroin and Chinese traffickers of fentanyl.
The Sacklers’ motivation, Keefe suggests, was simple greed, and they were aided in this project by a pair of noxious family traits: the refusal to admit error and a shocking inability to empathize.

1 2 3
View single page >> |

Disclosures: None.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.