I.O.U.S.A. One Nation. Under Stress. Under Debt.
by Addison Wiggin and Kate Incontrera
I had best intentions of writing this sooner, but the holidays, kids home from college, and business commitments kept me from completing it.
Unfortunately, and I mean that seriously – this book (I.O.U.S.A.) is what we all needed to read years ago, before it was even published. Thank goodness it finally has been making the rounds to educate us – even though some think it is too late.
I do know that my husband has now decided I am certifiably off the deep end since I enjoy reading this type of writing “for pleasure”, to gain a broader perspective – which in turn enables me to make better business and financial decisions for the future.
During this past summer I posted information regarding the documentary film which was being shown in various cities nationwide. This book is about that movie and the truth (as presented) about our nations economy. There are messages from the three major segments:
- Those who save & invest
- Those who don’t
- And those who find saving very difficult
Let me also note that the contributors to this book are people such as Warren Buffet, Paul O’Neill, Robert Rubin, Pete Peterson, Ron Paul, and Bill Bonner. (To name a few). These and others have vast experience and knowledge, and they felt it important to let others know – we can’t keep doing “business as usual”.
There are many who believe we lag other industrialized nations when it comes to things such as publicly financed education, health care, research & development, as well as savings plans. Examples were given in the book that predicted the economic situation we are now experiencing. It amazes me how so many Americans can’t believe these things can happen in “the good old USA”….. look at us now.
A quote from the book, “The U.S. can be likened to Rome before the fall of the empire. It’s financial condition is worse that advertised”.
Another quote,”The average citizen doesn’t have a clue about economics or the challenges we face as a nation. On average, most think Social Security & Medicare, the wars in Iraq & Afghanistan, managing the ‘money-supply’, or keeping the government afloat are somebody elses job – like an “expert” in Washington or New York.”
I am normally a very optimistic, pollyanna type, who looks at things through rose colored glasses at times – this book had me riveted though. Throughout – the theme is the same. Wake up! Get some financial education so you can begin making informed decisions for yourself! You cannot afford to be uninvolved. We are at a very interesting point in history – do not cover your eyes, ears and mouth!
“Take control of your destiny or someone else will”
More to follow in future posts.
If you’ve read this book or have seen the movie – what are your thoughts? 
Until next time, J.
January 06 2009 12:44 pm | Book Review
January 16th, 2009 at 5:35 am
It has very little to do with the national economy. Americans are not adjusting well to being in a global economy. The rest of the working world has adapted nicely. Americans are not prepared to work longer hours and harder to compete. Hence the stress.
Insurances last blog post..Become benefactor of crisis moment.