The New Empire of Debt: The Rise and Fall of an Epic Financial Bubble

By Bill Bonner & Addison Wiggin

Engaging, quick to read, and well worth it. I would read it, if I were you, just for the historical parallels and history lessons. Fascinating stuff. The basic premise is that the US is an empire, but the first empire in world history that has funded its operations by exporting its debt rather than taxing the outposts. Quite an odd strategy, when you think of it this way. Also raises enormous questions about the sustainability of the model.