Books on markets meltdown in high demand

October 14th, 2008 - 1:38 pm ICT by IANS  

New York, Oct 14 (IANS) As bookshop chains rush to create front-of-store displays featuring finance or personal finance titles to address widespread public anxiety, Charles Morris’s “The Trillion Dollar Meltdown“, which predicted market turmoil caused by subprime mortgages and Wall Street greed, is among the five titles most favoured by readers.David Smick’s “The World is Curved” which cited the mortgage crisis as an early indicator of further problems ahead; George Soros’s “The New Paradigm for Financial Markets“, which looks at past crises and their significance for future events, are also among the five, according to Michael D’Agostini, business-book buyer for Borders Group, second largest bookstore chain in US after Barnes and Noble.

The other two titles in D’Agostini’s list cited by Wall Street Jounral are: Kevin Phillips’s “Bad Money,” which examines the state of the dollar, credit issues, and the world market; and Peter Schiff’s “Crash Proof,” which warned of a coming crisis and suggested how consumers could protect themselves. He said a range of customers have come into the chain’s bookstores in recent days seeking financial guidance.

Barnes & Noble, the nation’s largest book retailer, has sent a list of titles appropriate for the current crisis to its nearly 800 store managers, and has suggested they set up displays where appropriate. The chain has also reported sales of such titles going up.

No book as yet are available on the events of the past few weeks - several may be in the works - there are plenty out there that predict a collapse and provide advice to investors about how to prepare for tough times.

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