Full Name
Inflated: How Money and Debt Built the American Dream

Inflated is a skillful account of money, inflation, and public debt as enduring features of American life. It makes the argument that while Americans view themselves as reasonably prudent when it comes to matters of money, we also seem to believe that we are entitled to a lifestyle that is well-beyond our current income. Such a world view is so ingrained in us that to expect the United States to live in a "deflated" world is simply unrealistic. It offers a glimpse into the future of the Federal Reserve and the role it will play in the coming years. Ultimately, Inflated examines what the future may hold for the value of the U.S. dollar and the real incomes of future generations of Americans

"A thorough, highly readable history of the politics that have controlled banking, currency, monetary gold, and government debt since the founding. I am going to put Inflated on the short list of books that are given to our new traders and analysts."

― Paul Tudor Jones II

"From the revolutionary-era origins of the national debt, through Civil War era greenbacks, New Deal deficit finance, and Richard Nixon's severing of the dollar's link to gold, Chris Whalen's Inflated offers a wry, often comical account of America's long, crisis-prone love affair with inflation, debt, and the amazing dwindling dollar. His take-no-prisoners account of our latest financial crisis brings the story close to home. So does his timely conclusion: Americans must either find their way back to fiscal sanity and real, investment-driven growth, or risk a financial debacle that could make the 'Crash of 2008―2009' seem like the good old days."

― Bob Reynolds, Chief Executive Officer, Putnam Investments

"Chris Whalen leads a fast and insightful tour through the historical and current battlefields of U.S. fiscal and financial class warfare. A fascinating and rewarding read."

― Edward J. Kane, Boston College

"Chris Whalen is already famous for his stellar work articulated in his bank rating service and in the Institutional Risk Analyst. This book captures another dimension. He uses his family history, which starts in the Nixon administration. He embellishes on his personal interviews with prominent persons like Paul Volcker and Josh Rosner. His book documents the 'too big to fail' syndrome. Finally, he presents a view of the future and articulates what the confluence of central banking, government fiscal policy, and market vigilantes must confront ahead."

― David R. Kotok, Chairman and Chief Investment Officer, Cumberland Advisors

"In the Rothbardian tradition, Christopher Whalen fingers the bad guys and follows the money in his fast-paced history detailing the U.S. government's continual monetary debauchery. For those wanting the real story of why America teeters on the edge of a financial cliff, Inflated is the book to read."

― Douglas French, President, Ludwig von Mises Institute