It's Even Worse Than It Looks: How the American Constitutional System Collided With the New Politics of Extremism - How the American Constitutional System Collided With the New Politics of Extremism

“A relentlessly intelligent book.” —Joseph Joffe, New York Times Book Review

A call-to-arms from Nobel Prize–winning economist and best-selling author Paul Krugman.

WHY ROMNEY LOST is a forthright analysis that offers a bold, hopeful plan for Republican success in the years ahead. David Frum urges a Republican party that is culturally modern, economically inclusive, and environmentally responsible - a party that can meet the challenges of the Obama years and lead a diverse America to a new age of freedom and prosperity.

"This shit would be really interesting if we weren't in the middle of it."—Barack Obama, September 2008

In 2008, the presidential election became blockbuster entertainment. Everyone was watching as the race for the White House unfolded like something from the realm of fiction. The meteoric rise and historic triumph of Barack Obama. The shocking fall of the House of Clinton—and the improbable resurrection of Hillary as Obama's partner and America's face to the world. The mercurial performance of John McCain and the mesmerizing emergence of Sarah Palin. But despite the wall-to-wall media coverage of this spellbinding drama, remarkably little of the real story behind the headlines has yet been told.

In Game Change, John Heilemann and Mark Halperin, two of the country's leading political reporters, use their unrivaled access to pull back the curtain on the Obama, Clinton, McCain, and Palin campaigns. How did Obama convince himself that, despite the thinness of his résumé, he could somehow beat the odds to become the nation's first African American president? How did the tumultuous relationship between the Clintons shape—and warp—Hillary's supposedly unstoppable bid? What was behind her husband's furious outbursts and devastating political miscalculations? Why did McCain make the novice governor of Alaska his running mate? And was Palin merely painfully out of her depth—or troubled in more serious ways?

Game Change answers those questions and more, laying bare the secret history of the 2008 campaign. Heilemann and Halperin take us inside the Obama machine, where staffers referred to the candidate as "Black Jesus." They unearth the quiet conspiracy in the U.S. Senate to prod Obama into the race, driven in part by the fears of senior Democrats that Bill Clinton's personal life might cripple Hillary's presidential prospects. They expose the twisted tale of John Edwards's affair with Rielle Hunter, the truth behind the downfall of Rudy Giuliani, and the doubts of those responsible for vetting Palin about her readiness for the Republican ticket—along with the McCain campaign staff's worries about her fitness for office. And they reveal how, in an emotional late-night phone call, Obama succeeded in wooing Clinton, despite her staunch resistance, to become his secretary of state.

Based on hundreds of interviews with the people who lived the story, Game Change is a reportorial tour de force that reads like a fast-paced novel. Character driven and dialogue rich, replete with extravagantly detailed scenes, this is the occasionally shocking, often hilarious, ultimately definitive account of the campaign of a lifetime.

Throughout history, rich and poor countries alike have been lending, borrowing, crashing--and recovering--their way through an extraordinary range of financial crises. Each time, the experts have chimed, "this time is different"--claiming that the old rules of valuation no longer apply and that the new situation bears little similarity to past disasters. With this breakthrough study, leading economists Carmen Reinhart and Kenneth Rogoff definitively prove them wrong. Covering sixty-six countries across five continents, This Time Is Different presents a comprehensive look at the varieties of financial crises, and guides us through eight astonishing centuries of government defaults, banking panics, and inflationary spikes--from medieval currency debasements to today's subprime catastrophe. Carmen Reinhart and Kenneth Rogoff, leading economists whose work has been influential in the policy debate concerning the current financial crisis, provocatively argue that financial combustions are universal rites of passage for emerging and established market nations. The authors draw important lessons from history to show us how much--or how little--we have learned.

Using clear, sharp analysis and comprehensive data, Reinhart and Rogoff document that financial fallouts occur in clusters and strike with surprisingly consistent frequency, duration, and ferocity. They examine the patterns of currency crashes, high and hyperinflation, and government defaults on international and domestic debts--as well as the cycles in housing and equity prices, capital flows, unemployment, and government revenues around these crises. While countries do weather their financial storms, Reinhart and Rogoff prove that short memories make it all too easy for crises to recur.

An important book that will affect policy discussions for a long time to come, This Time Is Different exposes centuries of financial missteps.