I thought I’d let you know that a book based upon everything I’ve written starting with Bear Stearns and going up to the Greek fiasco is now finished. It is called The Debt Generation.
All we have to do now is find an agent and a publisher. I say we because it has been edited and condensed by my long-time colleague Mark Tanner. The book presents in condensed and improved form what I have argued for and against, these two years. It is intended as a journey as well as an explanation. Therefore the argument unfolds with the events, rather than being abstracted dryly from them, and relies, as always, on a what I have always hoped were vivid and clear metaphors.
If anyone out there is a millionaire philanthropist or happens to own Penguin books please don’t be bashful. If we cannot find a publisher then we will sell it direct ourselves. In the belief that it offers a perspective not readily available elsewhere.
Here a link to a PDF of the Introduction, Table of Contents and First Chapter. In which I am sad to say I am outed. Not that there was ever really any great secret. But I have enjoyed being GolemXIV.
I would be interested to know what you make of what you read and if you think there would be any wider interest. There are after all other books already available.
You can post a reply or if you prefer, you can email me your thoughts confidentially via the email listed on my profile.
Hi Golem
Just to let you know – the link didn't work when I tried it.
Cheers
D
Dexter– seconded !
Sorry. I'm a bit of a techno idiot. I think it is fixed now.
*round of applause*
Well done!!!!!
Thanks William
Looks a great read, tho' I'll miss your typos.
Benek99,
fear not. A life time of mild dyslexia (so various child pyschologists assured me) will keep them coming. The typos you read are dreadful I know. I'm sorry.
They are due to a basic fear of writing , being a truely awful typist and having not being able to tell if something is misspelt.
Excellent news – bravo, sir!
Not sure if you'd be interested in vanity press, but I know the owner of Janus Publishing – a small publishing house that may be interested in your work. Not sure if you have to fully or only partially subsidise the printing. Maybe have a look at what they do then get in touch? I for one would love to read your book.
Golem I for one cannot wait to read the book – I have money, don't know how long for though
Your typos are not a problem at all – they even emphasise the currency of your writing.
Re. publishing, have you considered Print on Demand publishing services such as Lulu (http://www.lulu.com)? Lulu is tied in with Xerox and works with Amazon. Given your extensive online support, this might be an option to consider.
Good luck with the publishing and marketing of your book, which will add so much to the debate (or lack of).
I'll certainly buy it and recommend it. A fair few Guardian readers would too, I reckon.
Thank goodness you're not one of the people I've said rude things about.
The book looks excellent Golem. I know very little about the publishing world, but I wish you success in getting the book published. I look forward to buying it.
xx !
I'm sure you could get an agent who will get you in the door. As with all these things, you need to know the dialects they speak. You now have a track record in quasi-publishing, that should give you some credibility.
Self-publishing is catching on a storm now, you could print a first edition of a mere dozen books if you wanted. The trick is in spreading the word, some call it marketing. You actually now need to set up a proper website -and you probably need some kind of sponsor. Unfortunately all I can do at the moment is buy a couple of your books.
Good luck.
I remember when I first read you at Guardian probably through a linked-comment on something like zero-hedge, and was interested to read more. The power of T'Internet is such that you can find anything and everything (until Google hand over the power of selective indexing of data to Homeland Security -and then it will be useless), and I ended up looking at a screen about a documentary maker. So sadly, none of us are as anonymous as we hope to be.
You should be much more public anyway. The time is fast approaching.
VERY SATISFYING INDEED THAT THE INTELLECTUAL EFFORT OF THE MILLENNIUM (STILL YOUNG) WILL BE PRINTED, AND AS THE EVENTS UNFOLD WILL BE WIDELY UNDERSTOOD TO HAVE BEEN THE VOICE OF REASON THROUGH IT ALL, NEGATING THE pR AND THE SPIN, POINTING THE WAY TO A MEW ERA OF CIVILIZATION
Excellent. I've been following your blog for sometime and will definitely buy the book and copies for others. Will there be an afterword on ways to respond to the unfolding crisis, particularly given it is being ignored by the mainstream media.
Good Luck
This is fantastic, good luck with finding a publisher. Your blog (and comments from about 4 other guardian commenters) are what I start the day with.
Going back to monday, here's that partial reply then to your question "Should I write more about Solutions ?"
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Well, the detail needs more thinking through, and that will be necessary at some time as the alternative to a dystopia of razor wire and armed guards around gated communities. Of course the System may teeter on for some time( and it has been surprising us here for ages now ), but the continuing suspension of disbelief is taking more and more energy to maintain …
I definitely wouldn't worry too much about producing a detailed 'plan' right now. Probably a majority of the people know there is something wrong, somewhere, but this knowledge is on the rather superficial level of bankers' bonuses and spending cuts, and understanding goes no further than that. So a sense of unease but nothing clearly defined .
Going back to 1931 ,the collapse of Credit-Anstalt Vienna started off the Great Depression. Those in 'position' (not 'power') hope that they can get away with the actually insolvent banks intact and some Recession — hitting the poorest mostly, and increasing the size of the underclass, — and pray that the situation will return to 'normal'.
On France Inter this ( Monday) morning Frederic Lordon was explaining how the Stock Exchange had become more important than the Real Economy and real jobs for real people, with some ideas for rebalancing. At the moment Capital has instant liquidity but real business needs a vastly greater time-scale obviously. etc.
PS Explanation on cost of bank bail-outs on half a side of A4 please 🙂
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If you get the book out I'll have some for distribution , quantity depending on whether hardback at £15 or paper at £7.
Most important of all is the quality of the printing and text size. I have some pocket Chomsky's done by ATTAC, print so small I never got into them !
I still want numbers on the bank bail-outs tho.
Most people don't read books, but they can understand a very clear & very short exposition , and be convinced as long as the argument is absolutely watertight.
When enough people are convinced what the problem IS,and the sense of urrgency rises, practical solutions will be found …
rain in normandy ,at last !
That's a good point by frog2 regarding print size, especially in these days of tablet PCs and e-books. A friendly format will really help with the distribution.
I suppose that making it resemble a 'little red book' would be a little risqué and give people the wrong idea? The world already has its quota of people critiquing on books they've never read!
Frog 2
In answer to your question about numbers for the bailout. In December 09 the National Audit Office released a report entitled "Maintaining Stability in the Financial system."
http://www.nao.org.uk/publications/0910/uk_banking_system.aspx
This is quote from the report
“The scale of the support provided by the taxpayer is unprecedented in 4 modern times. In addition to the support provided to Northern Rock, the Treasury:
Purchased £37 billion of shares in RBS and Lloyds Banking Group (£2.5 billion of preference shares in Lloyds Banking Group were subsequently redeemed), and in November 2009, agreed to purchase up to an additional £39 billion of shares in both of these banks;
Indemnified the Bank of England against losses incurred in providing over £200 billion of liquidity support;
Agreed to guarantee up to £250 billion of wholesale borrowing by banks to strengthen liquidity in the banking system;
Provided approximately £40 billion of loans and other funding to Bradford & Bingley and the Financial Services Compensation Scheme; and agreed in principle in January 2009 to provide insurance covering nearly ¬¬£600 billion of bank assets, reduced to just over £280 billion in November 2009.”
This of course, is only what they have officially told us about and does not include the cost of the recession in terms of reduced tax intake etc
Hope this is useful
Ned
Your thoughts and analysis will be missed terribly as you take time out to push the book in the best direction.
Heres my news link of the day:
http://www.guardian.co.uk/business/2010/jul/20/recession-bank-lending-small-businesses#start-of-comments
My other question, will the euro take a hammering soon? As theres a very nice print for sale in a Paris gallery
Many thanks
Ned 10.01
Thanks very much for the numbers. What is needed now is to make them 'work' !
So the £76bn share-purchase dosh came from where?
The £200bn liquidity support, same question. Was it "printed-off" or borrowed longer term at say 3% to be lent day-to-day at 1%, or what ?
Not sure what– "guarantee up to £250 billion of wholesale borrowing by banks .." actuallly means…and the same for " insurance covering £00's of billions of bank assets too ! The gubmint just ain't got hundreds of billions lying around, has it …they're cutting budgets to the last very few million right now.
Some nice dumb questions !
I am still giong to write here. The book will have to be pushed forwards at the same time.
Great news Golem, we look forward to your thoughts on here as well and thanks for the insights. I will keep an eye open for your book as well.
Hi Golem,
It's interesting how life turns out. Over the last two years, your writing, which has been contrary to all the financial press, especially in the early days, has helped me understand a little about the way our future has been stolen. You have had a big impact on my thinking over that time. I have learnt to question what I read in the press and try and search my own answers.
When I was growing up, the program Cosmos also had an enormous impact on me, and was a major reason that I became interested in the universe and ended up studying for a degree in Astrophysics.
Two generations of your family have helped educate and inspire me!
I had a little look into self publishing in electronic book formats. Both amazon and apple offer the possibility to self publish. After a brief look, the Amazon program looks more interesting and probably leaves you with more control. They allow you both to print on demand and also to publish for kindle and devices like the iPad or iPhone. I think the link is
dtp.amazon.com
Good luck!
Rob