By Kevin Phillips
From America's optimal political analyst, an explosive exam of the axis of faith, politics, and borrowed funds that threatens to damage the kingdom In his latest long island instances bestselling books, American Dynasty and Wealth and Democracy, Kevin Phillips tested himself as a strong 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 through radical faith, that's using the USA to the threshold of catastrophe. From historical Rome to the British Empire, Phillips demonstrates that each global- dominating strength has been introduced down by way of a comparable set of factors: a deadly mixture of world over- succeed in, militant faith, source difficulties, and ballooning debt. it really is this comparable axis of ills that has come to outline America's political and monetary id some time past decade. army miscalculations within the center East, the surge of fundamentalist faith, the astonishing nationwide debt, the prices of U.S. oil dependence-together those elements are undermining our nation's defense, solvency, and status on the planet. If left unchecked, a similar forces will deliver a debt- bloated, preachy, energy-starved the US to its knees. With a watch at the earlier and a searing imaginative and prescient of the long run, Phillips has written a publication that no American can find the money for to disregard. compliment for Kevin Phillips and American Dynasty: "[Phillips] is a deep philosopher extraordinaire, who does a masterful activity of connecting the army- business dots. . . . A searing indictment of the Bush Dynasty." -Douglas Brinkley, mom Jones "Devastating . . . a major, troubling publication that are meant to be learn in all places with care, nowhere extra so than during this city." -Jonathan Yardley, The Washington publish ebook global
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Additional info for American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century
S. vehicle sales dropped to under 60 percent. S. market share of GM alone dropped to under 30 percent from more than twice that in 1970. Of the compact and mid-size cars sold in 2003, 45 percent and 39 percent, respectively, were imports, principally Japanese. 72 Limited intercity rail and urban mass transit facilities mean that little of the automobile demand can be diverted that way. Vulnerable automakers have spent much of the last three decades dodging potentially fatal bullets. In the late 19705 and 19805, Chrysler was bailed out by a federal loan, while Ford was kept afloat by the deep pockets of its founding family.
GM also acquired railroad-engine manufacturers, converting their production from electric trains (the norm in 1935) to trains that by 1970 were almost wholly diesel run. 70 According to foes, while GM made some money from diesel buses and railroad engines, the larger purpose was to channel the public toward car purchases, where the firm's huge profits lay. 71 Critics often exaggerate, but this case seems broadly supportable. In recent years, ironically, the sales of small and cheaper cars in the United States, once the preoccupation of Henry Ford's Model T culture and GM's early Chevrolet marketing, has slipped into foreign hands.
Automobile industry shows the effects of pension costs on the bottom line. The results of a Prudential Financial study state that pension and retiree benefits represent $631 of the cost of every Chrysler vehicle, $734 of the cost of every Ford vehicle, and $1,360 of the cost of every GM car or truck. s. "67 Longevity and diminished competitiveness went hand in hand. Predictions mounted that Toyota would soon replace GM as the world's leading carmaker. Inside Ford and GM, meanwhile, the biggest profits are made not by the manufacturing segment but by the two financial arms: Ford Credit and General Motors Acceptance Corporation (GMAC).
American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century by Kevin Phillips