Well, you have to give him credit, he did a fair job of predicting the current financial crisis, pointing out that Credit Default Swaps and Credit Derivative Options were a danger and could bring down the economy.
He talks about the 3 "perils" (religion, dependence on oil, borrowed money) more or less separately, talking about them in different sections of the book, with no real attempt to tie them together (maybe they really can't be tied together); you can tell what his baby is, the political trends based on religion, he waxes on that long and hard.

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The changing perceptions of Kevin Phillips and his eloquence at each stage make this book a fascinating pause for those who have followed his career for 30 years. At each stage he is an eloquent phrase maker, cerebralon the level of the late John Kenneth Galbraith. Published in 2006,and at the leading edge of change for that year,the book is fast approaching the status of past history. However, in the accelerating pace of change , "Part III" and the "Afterward" still apply to the world of 2011-2012. His standing as a prophet is confirmed in those sections.

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