Boomerang: Travels in the New Third World

Michael Lewis
“Lewis shows again why he is the leading journalist of his generation.”—Kyle Smith, ForbesThe tsunami of cheap credit that rolled across the planet between 2002 and 2008 was more than a simple financial phenomenon: it was temptation, offering entire societies the chance to reveal aspects of their characters they could not normally afford to indulge. Icelanders wanted to stop fishing and become investment bankers. The Greeks wanted to turn their country into a piñata stuffed with cash and allow as many citizens as possible to take a whack at it. The Germans wanted to be even more German; the Irish wanted to stop being Irish. Michael Lewis's investigation of bubbles beyond our shores is so brilliantly, sadly hilarious that it leads the American reader to a comfortable complacency: oh, those foolish foreigners. But when he turns a merciless eye on California and Washington, DC, we see that the narrative is a trap baited with humor, and we understand the reckoning that awaits the greatest and greediest of debtor nations.

Reviews

Reviewed: 2019-05-17
This book told me more of what I already knew about the economics of the third world globally, as in the global south, and our own third world right here in the USA, but not much about fixing it, unless I ought to have read farther, which I undoubtedly should have. But after living in more than one 'developing' country, I no longer had the stomach or energy to continue.
Well, I did read more, and wish I hadn't. My initial experiences in Greece were confirmed, and I am sorry to see what happened to Ireland (and Iceland, though it feels a bit different, less sympathetic toward them, for some reason).
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