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Rollback: Repealing Big Government Before The Coming Financial Collapse

1 rating: 4.0

2011 nonfiction book by Thomas E. Woods Jr.

Thought the last financial crisis was scary? Just wait…it’s going to get worse America is on the brink of financial collapse. Decades of political overpromising and underfunding have created a wave of debt that could swamp … see full wiki

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Desperate times call for drastic measures.

Feb 21, 2011

by drifter51
posted in Cafe Libri: Reviewing Books & More

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Thomas E. Woods Jr. is a best-selling author and a senior fellow at the Ludwig Von Mises Institute. Mr. Woods is in his thirties and is convinced beyond a shadow of a doubt that members of his generation face an especially grim economic future unless radical changes are forthcoming in the way we conduct business here in America. Furthermore, he believes that the longer we procrastinate the more pain there is going to be for everyone. In his new 2011 book "Rollback: Repealing Big Government Before The Coming Fiscal Collapse" Woods takes on the federal government monolith and robustly challenges the rationale behind each and every one of the federal government's major functions. You will quickly discover that in the gospel according to Thomas Woods Jr. there are no sacred cows in this government and virtually all agencies and programs should undergo an immediate review by Congress and be subject to substantial cutbacks. Woods debunks the myth of so-called "good government" and seeks to find ways to liberate the American people once and for all from its poisonous tentacles.

Now in the current political environment in which we find ourselves energy seems to be building for just the kind of drastic overhaul of the federal government that Thomas Woods Jr. is calling for in "Rollback". In reaction to the first two years of the Obama administration that brought us Obamacare, TARP, the takeover of two American car companies and the so-called "stimulus package" many Americans have become truly frightened and fear for their future. They saw firsthand the damage an unchecked federal government can wreak on them and now seem ready and willing to take their country back. Throughout the pages of "Rollback: Repealing Big Government Before The Coming Financial Collapse" the author challeges the basic assumptions and conventional wisdom regarding a whole host of massive federal programs. You will discover how the student loan program artificially inflates the cost of a college education and why the 40 year war on drugs has been such a dismal failure. Now many politicians would have you believe that our financial markets are largely unregulated. Nothing could be further from the truth. Since "deregulation" began in 1980 you might be surprised to learn that spending on the regulatory agencies in charge has actually tripled! This is precisely how out-of-control government works. Methinks that more than a few of our esteemed regulators were asleep at the switch in the years leading up to the 2008 financial meltdown. And then of course there is the Federal Reserve system. Thomas Woods Jr. devotes an entire chapter of this book to the Fed and how it manipulates the economy to the advantage of the priviliged few. Are you a staunch conservative who believes in increasing the size and scope of the military? Think again. Woods make an impassioned and extremely convincing case for slashing the military budget. Among the other topics covered in "Rollback" are business regulation, unemployment insurance, education and protectionism to name but a few. If nothing else, "Rollback" will challenge each and every reader, Republican or Democrat, liberal or conservative to carefully reassess what he/she believes.

In the final chapter of "Rollback" Thomas Woods Jr. offers up a number of dramatic proposals that he believes could play a role in solving the overwhelming fiscal problems we are facing in this country. Some of the ideas I have seen before but several were brand new to me. They are certainly worth considering. Because we have allowed our financial problems to fester for so long there are now substantially fewer options available to us than there were just five short years ago. Thus the budget battles we are now seeing in places like Wisconsin, New Jersey and Ohio. The unrest is likely to spread to other states like California and New York in the not too distant future. There appears to be no easy out and Woods cannot emphasize enough that time is of the essence here. Each and every one of us is going to have to share in the pain and make substantial sacrifices if our country is ever going to become prosperous once again. Furthermore, we are going to have to give serious consideration to cutting back and restructuring the federaI government in ways that would have seemed radical and positively unthinkable just a few years ago. We simply can no longer afford it. If you are the least bit interested I believe that reading "Rollback: Repealing Big Government Before The Coming Financial Collapse" would be an excellent way to get up to speed on these monumentally important issues. HIghly recommended.

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