Mobs, Messiahs, and Markets: Surviving the Public Spectacle in Finance and Politics (Agora Series)

I enjoyed Empire of Debt so much that I immediately ordered Mobs, Messiahs and Markets, as well as Financial Reckoning Day. All were exceptional reads! The authors clearly take Thomas Jefferson at his word - a nation is better off avoiding entangling alliances. The authors mock history's "super heroes" for their careless and limitless meddling, and praise the do-nothings of major politics. The obvious benefit to do-nothings is that the citizens remain free to pursue their own happiness, which is what good governance is all about after all. The authors' perspective is engaging. This book, plus their others, are excellent reads, especially for those who may be curious as to how a free, Libertarian USA might function today. Also recommended are Nathan Lewis's Gold: The Once and Future Money, Andrew Napolitano's Constitutional Exile, and Peter Schiff's Crash Proof 2.0. The several States of America were founded on much freer principles than are in operation today. Another read, The Human Rights Reader edited by Walter Laqueur includes excerpts from John Locke, Montesquieu, Voltaire on the "purpose of instituting a government being to secure the natural rights of people who organize into a society". We all have a natural right to earn a living to the best of our individual ability. Levying a tax on individual labor was never part of the plan. If that sounds extremist, then you've been caught up with anti-American principles. Our current government has gone beyond securing our natural rights and into invading them. The authors inject humor into their writing - the equivalent of a spoonful of sugar - to help the ugly truth sink in. But the book is far from despairing. For open minds, it is a delightful paradigm shift.

Praise for Mobs, Messiahs, and Markets

"This book strikes at the center of conventional wisdom. It is brilliant, deep, and fun to read."
—Nicholas Nassim Taleb, author of the legendary investment classic, Fooled by Randomness, and the recent bestseller on probability, The Black Swan

"As fun to read as it is thought-provoking and filled with fascinating insights into how the world really works. It will teach you a proper skepticism as to what we are told by the mainstream media."
—John Mauldin, President, Millennium Wave Advisors, LLC author of the New York Times bestsellers, Bull's Eye Investing and Just One Thing

"Learn about Fed bubbles and make Ben Bernanke unhappy: read this book."
—Lew Rockwell, President, the Ludwig von Mises Institute

"A cock-eyed, frolicking hell of a read."
—Dr. Mark Skousen, Professor of Economics and Editor, The Worldly Philosophers

"I laughed aloud, I learned, and I was even offended. Behind the crafty writing, the authors share the deeper secrets of investing and push us to question what we believe. 'Think for yourself!' this book screams."
—Steve Sjuggerud, Editor, True Wealth, one of the world's most widely read investment letters

"Mobs, Messiahs, and Markets is one of the funniest and most entertaining books I have ever read. A classic for the student of the current period in history. If I had to name just one book investors should read, this is the one I would select."
—Dr. Marc Faber, world-famous contrarian guru, author of the bestseller, Tomorrow's Gold, and Editor of the maverick Gloom Boom & Doom Report

"Entertainingly and irreverently investigates the 'do-gooders' and 'world-improvers' who stir up mass hysteria, unjustified wars, and financial crises, while at the same time it warns readers how to better protect themselves and their pocketbooks."
—Ron Paul, Congressman and Presidential candidate

An insightful look at how to succeed by going against the crowd Collectively, people think and act in ways that are different from how they think and act as individuals. Understanding these differences, says William (Bill) Bonner-a longtime maverick observer of the financial world and the vagaries of the investing public-is vital to preserving your wealth and personal dignity. From the witch-hunts of the early modern world to the war on terror, from dot-com mania to the real estate bubble, people have always been caught up in frauds, conceits, and wild guesses-often with devastating results. In Mobs, Messiahs, and Markets, Bonner and coauthor Lila Rajiva show groupthink at work in an improbable array of instances throughout history and reveal why swimming against the current pays. Shares the deeper secrets of investing and pushes you to question what this means for your financial well-being Explains why people so often abandon good sense and good behavior to'follow the crowd'Offers concrete advice on how you can avoid the'public spectacle'of modern finance The authors'cautionary tale of bubble economies reveals how the gush of credit let loose by Alan Greenspan has wreaked havoc on our lives-but their thoughtful and always entertaining approach also offers some sound investing principles for avoiding the pitfalls of the public spectacle, thinking for yourself, and protecting your money, your sanity, and your soul. Collectively, people think and act in ways very different from how they think and act as individuals. Author Bonner has long been a maverick observer of the financial and political world, sharpening his sardonic wit, in particular, on the vagaries of the investing public. Market booms and busts, tulip manias and dotcom bubbles, venture capitalists and vulture funds, he lets you know, are best explained not by dry statistics and obscure theories but by the metaphors and analogies of literature. Here, Bonner and freelance journalist Rajiva use literary economics to offer broader insights into mass behavior and its devastating effects on society. They end by giving concrete advice on how readers can avoid what the authors call the 'public spectacle' of modern finance, and become, instead, 'private' investors--knowing their own mind and following their own intuitions.--From publisher description