By Kevin Phillips
From America's superior political analyst, an explosive exam of the axis of faith, politics, and borrowed cash that threatens to smash the state In his newest manhattan instances bestselling books, American Dynasty and Wealth and Democracy, Kevin Phillips proven himself as a strong critic of the political and financial forces which are ruling-and imperiling-the usa. Now, Phillips takes an uncompromising view of the political coalition, led by way of radical faith, that's riding the United States to the edge of catastrophe. From historic Rome to the British Empire, Phillips demonstrates that each international- dominating strength has been introduced down via a similar set of explanations: a deadly mix of worldwide 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 financial identification long ago decade. army miscalculations within the center East, the surge of fundamentalist faith, the impressive nationwide debt, the prices of U.S. oil dependence-together those components are undermining our nation's safeguard, solvency, and status on this planet. If left unchecked, a similar forces will convey a debt- bloated, preachy, energy-starved the US to its knees. With an eye fixed at the prior and a searing imaginative and prescient of the longer term, Phillips has written a publication that no American can come up with the money 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- commercial dots. . . . A searing indictment of the Bush Dynasty." -Douglas Brinkley, mom Jones "Devastating . . . an incredible, troubling e-book that are meant to be learn in all places with care, nowhere extra so than during this city." -Jonathan Yardley, The Washington publish booklet international
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Extra resources for American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century
Coal built few large fortunes. But by the tum of the twentieth century, the oilmen-and in a decade more, automobile makers such as Henry Ford and Horace Dodge-topped the lists of great American wealth, a superiority that peaked in the early 1980s following a decade of steep hikes in the price of petroleum. At the century's end, oil money was half Texas crude and half eastern refined-mellow; lea(her-bound fortunes steeped in the fourth- and fifth-generation respectability of Rockefeller foundations, Mellon art collections, and Harkness pavilions.
Shell, and BP from dividing up Iraq's resources stood to be a cork popper. Before leaving this discussion of the oil companies, it is relevant to Fuel and National Power 27 touch on the industry's aging~workforce problem. «Gray hair is in this year," Larry Nation of the American Association of Petroleum Geologists told the Houston Chronicle in 2004. "There simply aren't younger geologists to take on the job. "6z The reasons given included distrust of oil and gas as a boom-bust business, belief that ir is an "old guys '" business and environmentally unsound, and unwillingness by families to relocate to obscure and sometimes dangerous places in the third world.
This geography may have influenced Roosevelt to select crusty Speaker of the House John Nance Garner of Texas as his running mate. Ironically, the New Deal coalition came undone thirty-six years later under the first Texas-bred president, Lyndon Johnson. For the liberalizing national Democratic party, Johnson's oil ties turned out to be a lagging, not leading, indicator. Oil's bipartisan geography ensured the industry power regardless of party concrol in Washington. The east Texas discoveries of 1930-1931, followed by a 1932-1933 glut and price collapse, led to petroleum becoming a major preoccupation·com-beneficiary of the New Deal.