If you are looking to expand your understanding of the economic times we are living in, I have three new books to recommend:

In Fed We Trust:  Ben Bernanke’s War on the Great Panic, by David Wessel

This is an easy to read account of how the Federal Reserve essentially became the fourth branch of the Government during the 2008 panic.  It will give you an understanding of how essential the Federal Reserve’s action in keeping the world economy afloat and hence, afford you the ability to understand how the Federal Reserve’s actions in the future will make a difference.

Aftershock: The Next Economy and America’s Future by Robert B. Reich

Robert Reich has served in three federal administrations, most recently as the Secretary of Labor under President Clinton.  In this book, he does an excellent job chronicling how we have arrived at the rich versus poor polarity that I have discussed in my seminars.  He has some exceptional prescriptions on how to restore the middle class and rebuild our society.

 This Time is Different: Eight Centuries of Financial Folly by Carmen M. Reinhart and Kenneth Rogoff

The two authors are well respected economists who analyze eight centuries of financial crisis.  This book presents a very interesting insight into the nature of financial behavior.  It does not simply explain what went wrong in this recent crisis; it presents a blue print as to how things are likely to turn out in the future.

Good reading!