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Liked It “An extremely insightful books from the backroom discussions of central bank presidents to polititians to his views on how the globalization generates wealth opportunities however inherits immense risk where no many people are aware of. |
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“An extremely insightful books from the backroom discussions of central bank presidents to polititians to his views on how the globalization generates wealth opportunities however inherits immense risk where no many people are aware of.
Takatoshi S wrote this review 3 weeks ago. ( reply | permalink ) Was this review helpful? Yes | No
A great book to read about the world economy and credit crisis. The author uses layman's terms for the anybody to understand. ”
“The tag line, 'continuing from where Thomas Friedman-world is flat' does not really apply if yu are not an economist, strategist and knowing who's who in the american political scene and big cats in the wallstreet.
che'mad wrote this review Tuesday, July 14 2009. ( reply | permalink ) Was this review helpful? Yes | No
David may have something to say, but he is not Friedman in terms of explaining it. And as a guy on the street, its not working for me in terms of helping me to understand the current economic crisis and what to expect for.
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“The World Is Curved is a self-aggrandizing story about the world of international finance and economic globalization, told in mostly the first person, by David Smick—one of that arenas major players and beneficiaries. It reflects what is the essential problem of the world economic situation but, not unsurprisingly, Smick fails to see that it is HIM and his kind—i.e. self-absorbed and unaware personalities globe trotting and using the latest technology, to pursue the accumulation of wealth for personal status—that has brought the world to the brink of serious depression, both economic and psychically. Oh, he does point the finger at “greedy” bankers and financial “wizards,” but doesn’t see his connection and complicity. He is a “consultant” and advises “some of the world’s most successful money managers.” I’ll be clear, the author depends on making his living and enjoying a royal jet-setting lifestyle on the super rich maintaining their status and well-being. He trots out the tired old line about the creative class needing the money of the super rich to do what they do; but admits that creative people aren’t motivated by money or wealth—just the doing of the thing. But, let me be real, the “investors” are merely interested in getting in on a potential money-maker. They buy low, create a buying frenzy via the oldest trick (thus the wizard label) of the confidence game—fear of losing out— then sell high and move on. He advises them. He says they must enjoy a high level of confidence (ebullience) that this “system” continues as is, to keep funding innovation. This, of course, creates the bubbles that have dominated the world economy for the last dozen years and created the problem—money out of thin air. I list here some of the bubbles: Dot Com; Telecommunications; Housing; the Stock Market itself. To be clear, again, many people have gotten very rich, but most have been fleeced and NOW … one of Smick’s remedies is to have the government (the people) tax themselves and then give themselves a “gift” upon birth to be invested in the markets. I can’t believe this! That money most likely will wind up in the pockets of the already rich and their wizards and bankers. AMAZING! (Does that declaration mean five stars?) What a crock, what a confidence game! One of the tricks these “wizards” use is specialized jargon. For instance, who knows what these words mean in the language of finance: Equity; Capital; Liquidity; Investment; Trust; Leverage; Human Capital; Inflation; Economy; Entrepreneurial; Securities; Sovereign Wealth Funds; Risk; Securitization; Free Trade; Bond Markets; Hedge Funds? Smick even admits the people in charge often don’t even know what they are talking about when they use the words!!!!
Mark J wrote this review Wednesday, February 18 2009. ( reply | permalink ) Was this review helpful? Yes | No
This book is a classic. It is about the liars and thieves who have fleeced the people of the world, albeit as Smick contends again and again, without knowledge or intention. So are they innocent? Just jerks doing what jerks do? I would like all these bankers and wizards and their beneficiaries, stripped of their wealth and given shovels to manage manure, dig ditches to move water, and build roads and foundations. Let them earn a living. That would boost my confidence. DON’T BUY THIS BOOK.
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“If you like horror stories, I would recommend this book. Even though there are no ghosts, no monsters, no psychotic knife-wielding murderers lurking outside your door, "The World is Curved" is a very frightening book. The author, David Smick, demonstrates how the chaos theory of weather, in which a butterfly flapping its wings in China can result in a hurricane in the Caribbean, also applies tothe global financial system, upon which each of our livelihoods, whether we realize it or not, depends.”
Michael G wrote this review Tuesday, November 11 2008. ( reply | permalink ) Was this review helpful? Yes | No
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