ACKNOWLEDGMENTS

A book is a collaborative process, and this project would not have been possible without help from many people. My business partner and friend, Henry Hoffman, provided numerous recommendations for improvement and applied intellectual rigor to assertions that might otherwise have been simply opinions. Many of the conclusions drawn herein are the result of countless hours of spirited debate with Henry about investment strategies, economics, and the shortcomings of the U.S. political process. Several friends reviewed individual chapters and offered many improvements. Chapter 2, “A Brief History of Debt,” benefitted from Roger Taylor’s thoughtful input, backed by his long career in bond research. Pat Britt, with whom I worked in the early 1980s, provided insightful feedback on Chapter 3, “Derivatives Growth.” Jon Bramnick, New Jersey state assemblyman and Assembly Republican Leader, helpfully reviewed my analysis in Chapter 6, “Politics.” Jim Glassman, senior economist at JPMorgan Chase and a former colleague, provided many suggestions and corrections for Chapter 8, “Inflation.” My friend of 30 years Larry Hirshik also offered improvements and confirmed my recollection of events we shared many years ago. Fred DaVeiga cleverly suggested the title, revealing yet another of his many talents, and my sister-in-law, Katherine Oldfield, inspired the front cover design. My mother, Jeannie Lucas, did research and initial editing and acted as cheerleader throughout. Last, but ...

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