Full Faith & Credit: A Novel About Financial Collapse

Rating:
Summary: Poorly written
Review: An interesting story. Cook makes many valid points about our overvalued markets (and did it in 1999). But this book is so poorly written that I found it hard to make it all the way to the end. As this novel aptly attests, smart financial people don't necessarily make good writers.

Rating:
Summary: Poorly written
Review: Book reads like a Grisham novel. It's almost eerie how Jim Cook wrote this book in 1999 and all his writings are coming to fruition today. He wrote this book at the height of the bubble. Would recommend this book to anyone who is cared of investing in the market and is curious as to what may happen given certain circumstances...

Rating:
Summary: Full Faith & Credit
Review: Full Faith & Credit by James Cook is a plausible, 295-page summer read.

Rating:
Summary: plot is OK, writing is bad
Review: Full Faith & Credit is crisply written, a compelling work, and well researched. A difficult book to put down, it grabs the reader with its non-nonsense style and excellent story telling.

Rating:
Summary: Full Faith & Credit
Review: James Cook spins an interesting tale about financial collapse in America. His wealth of knowledge in regards to economics and financial markets makes for a believable and credible storyline.

The main focal point in the book is a likeable chap named Richie who succeeds while others see their assets diminished. His character is developed well within the story and you find yourself cheering for him as you get entwined in his financial dealings. His gutsy moves in the markets have you on the edge of your seat hoping his keen hunches turn out to be correct.

This book gives a unique perspective on the future of America and is definately worth the read.

Rating:
Summary: Deserves to be a national best-seller
Review: This book does an awesome job of weaving and integrating an education on various arcane aspects of our economy in with a real thriller of a plot. That's, perhaps, the biggest compliment of all: since page one, I have scarcely been able to put it down.

Along the way, you will gain a fundamental understanding of commodity trading, futures, stock options, currency arbitrage, hedge funds, derivatives, inflation, deflation, the relationship between the stock markets, the housing markets, the credit markets, the GDP, and long and short term interest rates. You'll learn about the mechanism by which fiat money is created and you'll learn how debt can be monetized. You'll also learn about the distinction between the Fed and the Treasury; how they can have very different agendas.

As a first work of fiction by an author who, presumably, had a message, I was expecting the writing to be really poor and the ideas all hackneyed retreads of what I've been reading for the last two years on various websites. Instead, the writing quality is quite good and the plot is really captivating, fresh, and believable with lots of twists and turns. Strange as it sounds, the author has actually taken a very moderate approach to what is possible. Character development isn't comparable to, say, Hemmingway, but it's at least as good, imo, as what I've seen in books by authors such as John Grisham.

The first several chapters don't read so much like fiction, as we begin with the stock market and the dollar at historic highs and the social mood ebullient. Then the market begins to decline, the dollar begins to decline, gold begins to creep up, and we're off to the races.

Keeping in mind that this book was written BEFORE there was even an acknowledged bubble and published, apparently, in early 2000, let's all hope that this guy's ability to describe almost EXACTLY how the last few years have gone is merely fluke and in no way an indication that the rest of the book could ever be anything more than fiction.

I bought this along with $400 of fairly hard-core economics and accounting texts and really wasn't expecting too much. Was I ever wrong. Highly recommended. I'd like to see a mainstream publisher pick up this book and run with it. I really think it could be a best-seller.

Rating:
Summary: Astonishing scenario - already evolving in front of us?!
Review: This book is difficult to evaluate. As a source to learn about the web of economic causes and complexities, it is excellent: learning by example. The author does a wonderful job in connecting different perspectives/people that experience how their "normal" bubble world is falling apart.
As a novel: well, both plot and characters are not as perfect, but perfectly acceptable. Main character (and hero?) "Richie" is a shallow person, not interested in much, not having friends either (Bernie isn't really a friend, but more of an ally). When the family is "obliged" to stay in Vancouver, they can't cope. Even with billions on his account, his family just can't adapt to new people and environments (speaking of Canada!)? And the boring life they lived in the US anyway! this unashamed US-patriotism is only surpassed by Richies happy end where he decides to return to build up the American dream from scratch...
Back to the the description of the looming and unfolding depression and deflation, the author must be as lucky as his main character. He wrote it while quite nobody could imagine, much less believe in such a scenario. Now lots of it happens just in front of our eyes.
That's astonishing. One cannot other than congratulate James A Cook. He delivers a book that enlightens and makes us understand what many of us cannot believe is going on in the economic turmoil just now!!!

Rating:
Summary: One of the best books ever written on financial collapse
Review: This is a good read as a novel, but it helps if you are interested in finance and investing. Its like a Tom Clancy meets Wall Street and the Second Great Depression.

The characterizations are realistic and well developed. The writer is obviously not the next Hemingway, but overall the book is fascinating in its realistic depiction of the collapse of the US financial system.

I had trouble putting it down the first time I read it. Considering the books was written BEFORE the collapse of the NASDAQ and the new breakout in the price of gold, I'd say the writer shows some amazing predictive insights.

If you are fearful of the economy and the futre you need to read this without further delay! Wow!