Full Faith & Credit

Book reads like a Grisham novel. It's almost eerie how Jim Cook wrote this book in 1999 and all his writings are coming to fruition today. He wrote this book at the height of the bubble. Would recommend this book to anyone who is cared of investing in the market and is curious as to what may happen given certain circumstances...

This book does an awesome job of weaving and integrating an education on various arcane aspects of our economy in with a real thriller of a plot. That's, perhaps, the biggest compliment of all: since page one, I have scarcely been able to put it down. Along the way, you will gain a fundamental understanding of commodity trading, futures, stock options, currency arbitrage, hedge funds, derivatives, inflation, deflation, the relationship between the stock markets, the housing markets, the credit markets, the GDP, and long and short term interest rates. You'll learn about the mechanism by which fiat money is created and you'll learn how debt can be monetized. You'll also learn about the distinction between the Fed and the Treasury; how they can have very different agendas. As a first work of fiction by an author who, presumably, had a message, I was expecting the writing to be really poor and the ideas all hackneyed retreads of what I've been reading for the last two years on various websites. Instead, the writing quality is quite good and the plot is really captivating, fresh, and believable with lots of twists and turns. Strange as it sounds, the author has actually taken a very moderate approach to what is possible. Character development isn't comparable to, say, Hemmingway, but it's at least as good, imo, as what I've seen in books by authors such as John Grisham. The first several chapters don't read so much like fiction, as we begin with the stock market and the dollar at historic highs and the social mood ebullient. Then the market begins to decline, the dollar begins to decline, gold begins to creep up, and we're off to the races. Keeping in mind that this book was written BEFORE there was even an acknowledged bubble and published, apparently, in early 2000, let's all hope that this guy's ability to describe almost EXACTLY how the last few years have gone is merely fluke and in no way an indication that the rest of the book could ever be anything more than fiction. I bought this along with $400 of fairly hard-core economics and accounting texts and really wasn't expecting too much. Was I ever wrong. Highly recommended. I'd like to see a mainstream publisher pick up this book and run with it. I really think it could be a best-seller.

This book really hit home. I was glued to the book until I finished it. After reading numerous non-fiction books regarding economics and finance, and debalces in history, I decided to pursue this fictional work, as a relaxer. It was everything that I hoped for. You can relate to the main character, Richie, and the hops throughout the book of event that go on outside his life, but are connected, are wonderful. The author delivers a clear image of what a real economic collapse in the United States would entail, and I congratulate them.

This is a good read as a novel, but it helps if you are interested in finance and investing. Its like a Tom Clancy meets Wall Street and the Second Great Depression.The characterizations are realistic and well developed. The writer is obviously not the next Hemingway, but overall the book is fascinating in its realistic depiction of the collapse of the US financial system.I had trouble putting it down the first time I read it. Considering the books was written BEFORE the collapse of the NASDAQ and the new breakout in the price of gold, I'd say the writer shows some amazing predictive insights. If you are fearful of the economy and the futre you need to read this without further delay! Wow!

Fascinating book. When the stock market crashes, certain consequences naturally follow. Unemployment. The collapse of the dollar. A derivatives crisis. A government bailout. Huge deficits. Rising rates. AAA rated companies defaulting on debt. And so on. It leads to tax receipts that are 75% lower than today, and eventually to ... You gotta read this book. His logic is irrefutable. His conclusion is ... well, bring fresh underwear.