By: Michael Lewis
And I’m back. Sorry for the delay between post. It’s been so long I honestly thought about just quitting, but what do I got to lose? Anyway let me get to the book.
Boomerang was written by the same author who wrote ‘The Big Short’. The Big Short is one of my favorite movies so I decided to try a random book by the same author. I’m glad I did. Boomerang is about the financial collapses of a few European countries, mainly Iceland and Greece. Of course it’s told in the eccentric story telling ways of Michael Lewis so don’t let the dry subject matter turn you off too quickly. Economics has been an interest of mine for a couple years so I especially enjoyed it. The most interesting part of this book was how these two countries met a similar demise in such different fashions. To summarize quickly and quote the book, “In Iceland the banks sank the country, in Greece the country sank the banks!”
I think this book serves as a cautionary tale; both for countries who let banks run a muck and unregulated, and countries who refuse to be fiscally responsible with their budgets. I recommend this book to anyone interested in monetary policy and economics.