By Kevin Phillips
From America's best political analyst, an explosive exam of the axis of faith, politics, and borrowed funds that threatens to spoil the country In his most up-to-date manhattan instances bestselling books, American Dynasty and Wealth and Democracy, Kevin Phillips tested himself as a robust critic of the political and monetary forces which are ruling-and imperiling-the usa. Now, Phillips takes an uncompromising view of the political coalition, led via radical faith, that's using the USA to the edge of catastrophe. From old Rome to the British Empire, Phillips demonstrates that each global- dominating strength has been introduced down via a similar set of explanations: a deadly blend of worldwide over- succeed in, militant faith, source difficulties, and ballooning debt. it really is this similar axis of ills that has come to outline America's political and fiscal id long ago decade. army miscalculations within the center East, the surge of fundamentalist faith, the striking nationwide debt, the prices of U.S. oil dependence-together those components are undermining our nation's safety, solvency, and status on this planet. If left unchecked, an identical forces will carry a debt- bloated, preachy, energy-starved the USA to its knees. With a watch at the previous and a searing imaginative and prescient of the long run, Phillips has written a publication that no American can manage to pay for to disregard. compliment for Kevin Phillips and American Dynasty: "[Phillips] is a deep philosopher extraordinaire, who does a masterful task of connecting the army- business dots. . . . A searing indictment of the Bush Dynasty." -Douglas Brinkley, mom Jones "Devastating . . . a huge, troubling publication that are meant to be learn in every single place with care, nowhere extra so than during this city." -Jonathan Yardley, The Washington submit booklet international
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Extra info for American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century
According to the postwar History of the [British] Ministry of Munitions, "In August, 1914, therefore, the Germans were in the fortunate position of being able to turn with ease the vast resources of a flourishing coal-tar industry to the production of high explosives:'23 Britain, in short, had been left at the gate. The spirit of Newcomen, Darby, and Perkin had been missing for at least a generation. Just as the Dutch had been left behind by the eighteenth-century industrial revolution, some economic historians suggest that coal-shaped Britain was left behind by a "second industrial revolution" circa 1900 that elevated chemicals, petroleum, and electrical engineering, all industries requiring large firms, scientific laboratories, educated workforces, and economies of scale.
So was the reorientation of many Hollanders toward investments rather than hands-on commerce, seamanship, or engineering. Most historians agree that Dutch maritime and technical endeavors became less likely to innovate, and the British, in particular, moved ahead. Moreover, the republic had negligible coal and iron deposits, whereas well-supplied Britain was about to knit the two together in the industrial revolution. Coal, iron, and the steam engine overwhelmed the windmills that had been so advanced two centuries earlier.
As for the huge east Texas fields discovered in the late 1920s and early 1930s-Daisy Bradford no. 3, Lathrop no. 1, and the rest-by 2004 production there had fallen from 160 million barrels a year in 1936 to just 10 million. In Midland, the oil capital of the West Texas Permian Basin, the major companies began leaving the area in 2000, and some studies suggest that the local oil industry will be gone by the 2020s. S. oil industry is very old," Paul Holtherg, a senior researcher with the RAND Corporation, cautioned in 2002.