"That’d be Right: A Fairly True History of Modern Australia," by William McInnes



"That’d be Right: A Fairly True History of Modern Australia," by William McInnes, (Sydney: Hachette Australia;  2008), 320 pages.


That’d be Right by William McInnes is labeled as “a fairly true history of Australia”, a history viewed through the author’s eyes, with a particular emphasis on sport and politics. The author approaches Australian “history” through recollection, primarily his recollections of various sporting and political events, and what he was doing when those events occurred in Australia from the 1970s through to today. McInnes narrates a series of loosely related political and sporting stories. The only relationship or connection that these political and sporting stories have with each other is the author. He connects them via a chain of recollections, observation and anecdotes, that are at time humorous, to attempt to add color and interest to what many people would ordinarily be a rather thin gruel of politics and sport. For example, he recalls his family and friends’ activities during some of the events of his youth (the 1975 Australian Federal election), a famous cricket match (the 1977 Centenary Test), events he watched was in college in the 1980’s (political rallies and other sporting matches/races) through to political and sporting events and cultural events he attended as a spouse and father.

McInnes should be lauded for writing about sport and politics from the vantage point as an interested opinionated outsider, and the impact and influence of these events on people’s lives. Many books about sport and politics are written from the vantage point of the privileged insider (journalists), participants (politician or sportsman), or historians. McInnes’s departure is that he writes about these events that span a period of at least 35 years from his perspective, while liberally garnishing it with side stories and anecdotes, much in the same way that made his earlier book such an enjoyable read. The effect is to produce humorous insights, emotional events and sentimental recollections of people’s lives during momentous events in Australia’s recent past. Unfortunately, the attempt at a so-called “fairly true history of Australia” (which may just be a marketing ploy) comes across, at times, as half-baked. At times it reads as a quickly cobbled together collection of stories loosely woven around a theme of sport and politics in a way to cash in as a follow-up to his superior first book.

McInnes is a fine storyteller and should be applauded for memorializing his recollections; however, given that McInnes places himself in the center of events (and his recollection of events) in this book, it is surprising that we know so little of our author. He comes across as somewhat two dimensional. Apparently McInnes is a well regarded actor, and has had some success on both the stage and screen (both movie and television). This success is alluded to but never addressed; it’s as though it’s assumed or taken for granted that if you read William McInnes’s books, you know who he is, and of his acting career. Many readers do not, and may even wonder aloud when reading this book, who this author is and why his views are important enough to read, if at all? Maybe it’s modesty that keeps McInnes from writing about his career achievements in his chosen profession. Or maybe it’s a wish for privacy, or a male preference to discuss manly things like politics and sport. It seems odd though that in a book about essentially about his recollections of major sporting and political events of the past 35 years that he fails to tell the reader about his rise from struggling acting student in Western Australia to established and accomplished stage, film and television actor.

Despite these minor quibbles, McInnes has written a fine book that should resonate with every lover of good, fresh stories based on the observations and conversations of ordinary suburban people. The only thing that this book lacks is the story of McInnes’s career. No doubt he could have enhanced this book with the details of how he became an expert in his chosen profession. No doubt it would be a story worth telling, and when told by McInnes, be entertaining and a useful guide as well as an account of lessons he learned in establishing himself in a most competitive profession. I suspect that he is leaving those stories for another book. Let’s hope he takes the time to writes it one, because if it is like this book, and his previous book, it would be a humorous and enjoyable read.

"The Big Short: Inside the Doomsday Machine," by Michael Lewis



The Big Short: Inside the Doomsday Machine,” by Michael Lewis, (New York: W. H. Norton & Company Ltd; 2010), 266 pages.

The Big Short tells the story of a select group of individuals that foresaw and profited from the 2008 collapse of the United States’ property bubble. Lewis identifies the cause of the collapse as cheap housing finance funded initially by reckless bank lending, where loans were converted into mortgaged-backed securities (bonds) and a variety of derivative products designed to enable “Wall Street” to profit from over indebted lower and middle class Americans. Lewis’s book tells the story of certain individuals that saw the long term foolishness (at best) or insanity (at worse) of this behavior, and how they were able to profit handsomely, both for themselves and their investors. Lewis tells the story from the vantage point of a number of such investors. We learn of the lawyer turned investor who was once an equities analyst specializing in sub-prime lenders who figured out how to short specific mortgage-backed bonds. We read about the west-coast physician who gave up practicing medicine to run a hedge fund and make hundreds of millions of dollars for his investors by almost single-handedly discovering a way to profit from the collapse of house prices. We learn of the man responsible for selling derivatives to investors, such as the ex-lawyer and former physician, and how the salesman’s own firm let him sell what was basically insurance on mortgage-backed bonds without any company capital backing the risks (i.e. they never thought the housing bubble would burst, and therefore not have to pay any claims). We also learn of two friends in California who go from part-time investors to multi-millionaires as they identified and profited from the mortgage bond collapse. Lewis also shows how some other smart investors saw the pending collapse in sub-prime mortgage bonds, and were able to profit very handsomely and the expense of “stupid” banks and other financial institutions, and benevolent regulators that permitted such activity to occur (there was nothing apparently illegal so they were unable to regulate what was beyond the scope of the regulations they enforced).

Lewis’s style of writing tends to be to tell a big story by focusing on a number of individuals and explain the big picture by explaining the actions of a these few participants in the bigger story. In The Big Short, he does an excellent job of showing how some smart people made fantastic fortunes (some as great as tens of billions of dollars) by basically betting that house prices would fall, thereby profiting by the collapse of mortgage backed securities by purchasing derivative contracts that exponentially increased in value with the decline in value of the mortgage back bond from which they were “derived”. We all now know how these activities threatened the solvency of numerous money center banks and the stability of the entire financial system. Lewis shows how the nimble, smart hedge fund guys who went against the herd mentality of the bumbling, establishment institutions, won the day. Hooray for them!

As an analysis of how the smart guys won big, The Big Short is a first rate story told very well. But one has to wonder of the effect of this book on the reading public, particularly those he seeks to influence. Lewis, at heart a moralist; he admits that his first book, Liar's Poker, may have been an attempt to say something like, “I hope that college students trying to decide what to do with their lives might read it and decide that its silly to phony it up, and abandon their passions or even their faint interest, to become financiers.” Lewis admits that his message in Liars Poker was mainly lost on his readers, and that most students read Liars Poker as a “how to" manual. One wonders, given his failure to get his message across in Liar’s Poker, whether The Big Short will be read as a "how to" manual for aspiring contrarian hedge fund managers, rather than a vindication of Lewis’s views that the boom era of high finance (and its associated excess and insanity) is over. Like a dog returning to its own vomit, Lewis covers the same fertile ground in The Big Short that he covered in Liar’s Poker, and in some instances the same people he used to work with. I wonder if the sins of Liar's Poker are being repeated on a larger scale in The Big Short (except with much larger sums of money). I wonder whether the bright kid from Ohio State who reads The Big Short will be encouraged to become, say, an oceanographer and spurn the offer from Goldman Sachs and set out to sea. It would take an exceptional young person to reject such temptation. When given a choice between a bucket of money and ocean spray in the face, most young people would chose the bucket of money. But our scorn for the choices made by young college graduates could equally be made against successful authors. Lewis is free to write about anything he wants. He has written about the grubby “low-art” of finance, as well as comparatively more noble and uplifting subjects in Moneyball and The Blind Side. Perhaps Lewis will return to sharing the uplifting stories he is clearly capable of writing, and avoid the temptation to return to the field of finance, which, according to his past experience, seems to encourage bright young kids from Ohio State to go to work at Goldman Sachs. 

"Sheetrock and Shellac: A Thinking Person’s Guide to the Art and Science of Home Improvement,” by David Owen


Sheetrock and Shellac: A Thinking Person’s Guide to the Art and Science of Home Improvement, by David Owen, (New York: Simon and Shuster; 2006), 303 pages.


Sheetrock and Shellac is the reminisces of the lessons learned by David Own in almost 30 years of home improvement projects, home renovation projects, and home construction. Owen recalls the lessons learned, mistakes made and general improvements he and his wife made o their New York City apartment, and later to their 200 year old house in Connecticut. Having learned many lessons, Owen also tells the story of how he and his wife built a cabin, from site location and land purchase through to the final finishing touches.

The book is arranged somewhat chronologically. Owen starts with his recall of alterations they made to their New York apartment as newly-weds through the arrival of their children. Owen then tells the story of their purchase of a 200 year old house in Connecticut, and the various renovations they made (e.g., yard and house exterior, basement, office, and kitchen). Having learned much along the way by asking questions and watching experienced contractors, Owen does more of the renovations and, where necessary, with the help of experienced tradesmen. Almost half of the book details the construction of their cabin. Owen explains the reasons for his compact and economical design (no McMansion in the woods for him) and the reasons behind every construction decision. In providing such detail, he also explains why certain construction methods are used (and not used) why specific techniques have to be followed, and demonstrates how his decision to build a well constructed cabin was the culmination of information and knowledge acquired over the years.

Owens’s Sheetrock and Shellac is an entertaining book that combines memoir, lessons learned in home improvement, and precautionary advice for potential home renovators and builders. It’s the story of how home owners with no formal training in the manual arts can, with curiosity, interest and initiative learn and acquire the skills necessary to maintain, improve and build a home. Owen demonstrates how homeowners can achieve such feats, not be overconfident in their own abilities and know when to pay an expert to do specialist jobs. Neither encyclopedic nor instructional in the manner of how-to books, Owen’s book contains a wealth of practical information learned through experience, and to our benefit, he shares them with us. His hand on tips, canny insights and interesting stories (such as the history of Portland cement and concrete) entertain both the budding handyman and curious observer. 

Pilgrimage to Warren Buffett’s Omaha,” by Jeff Matthews


“Pilgrimage to Warren Buffett’s Omaha,” by Jeff Matthews, (New York: McGraw Hill; 2009), 298 pages.



Pilgrimage to Warren Buffett’s Omaha is hedge fund manager Jeff Matthews’s account of his trip to the 2007 and 2008 Berkshire Hathaway Annual General Meeting in Omaha, Nebraska. The book is an expansion and revision of Matthews’s reports previous made on his blog, “Jeff Matthews Is Not Making This Up.” Matthews’s book expands on more than just the Berkshire Hathaway Annual General Meeting. He also writes about his difficulty in getting to Omaha, his impressions of the city, events in Omaha secondary to Annual General Meeting, the comparatively unexciting procedural matters of the Annual General Meeting, and what everyone was in Omaha for, the famous five hour question and answer session presided over by Berkshire Hathaway Chairman and Chief Executive Officer Warren Buffett, and his friend and business partner Berkshire Hathaway Vice Chairman Charles Munger. Much of Matthews’s book is Matthews provides a detailed reconstruction of the question and answer session, where Buffett and Munger answer questions from shareholders, unscripted, and without assistance from lawyers, public relations people, or other types of people you normally see at annual general meeting who seem to have the job of filtering out uncomfortable or embarrassing questions for management. Matthews not only reconstructs the question and answer sessions, but adds considerable background, analysis and commentary based on his extensive knowledge of Berkshire Hathaway, Buffett and Munger, and the various Berkshire Hathaway businesses that he has come to know and study during his three decades as a professional investor. The every-curious Matthews also includes many of his own findings and observations of Berkshire Hathaway gained during conversations with managers, discussions with shareholders, and a visit to one of Berkshire Hathaway’s famous subsidiaries, the Nebraska Furniture Mart. Matthews also includes some difficult and uncomfortable questions that came to him during his 2 visits to Omaha, questions about the entire “Woodstock for Capitalists” experience (a euphemism coined for the Berkshire Hathaway Annual General Meeting) such as the divergence between Buffett’s speeches and sayings and his actions, and the performance of various business units within Berkshire Hathaway and what this says about Buffett’s way of doing business.


Matthews’s great strength in Pilgrimage to Warren Buffett’s Omaha, and what sets it apart from nearly all other books is that he hasn’t bought into the cult of personality that surrounds Berkshire Hathaway, Warren Buffett and Charles Munger. Many books on Buffett tell the story of Buffett’s success (i.e. how to invest like Buffett, how Buffett made his fortune), but few, if any, take a rational and clear eyed view at the subject. Don’t be mistaken in thinking that Matthews’s book is an attack on Buffett: it isn’t. Matthews is full of professional praise for Buffett’s success in achieving unparalleled investment returns, the unique way in which he and Munger handle annual general meetings, and their willingness to identify irrational and foolish conduct in the business community. Nonetheless, Matthews raises some questions of his own that other shareholders failed to ask (in fact, Matthews is somewhat curious that some shareholders ask Buffett and Munger questions unrelated to the performance of the Berkshire Hathaway Businesses (such as “what should I do with my life”). Matthews’s questions include the following.

  • Has Buffett’s tight-fisted or thriftiness impeded the growth of the businesses he owns? How come Nebraska Furniture Mart, a company Buffett purchased about the same time that a one-store Minnesota company changed its name to Best Buy, and since then, Best Buy has grown to 1000 stores with $40 billion in sales whereas Nebraska Furniture Mart has 3 stores and $1 billion in sales?

  • Buffett, who is critical of board executive compensation committees, has been on many boards, but no executive compensation committees. Why hasn’t he asked? What company would risk the publicity of refusing to have Buffett on their executive compensation committee?

  • How has Buffett managed to escape any collateral damage from scandals that occurred on his watch (i.e. the “gallon pushing” accounting anomalies while serving on the board at Coca Cola in the 1990’s, and the criminal prosecution of managers he praised at Berkshire Hathaway subsidiary General Re?

  • How does Buffett, the very rational conservative investor, explain his well-known social progressiveness/liberalness to his predominantly lily-white shareholder audience of ageing baby-boomers?

  • Will Berkshire Hathaway survive in its current form when Buffett passes away?

  • Is Buffett a hypocrite by outwardly praising meritocracies, and opposing inherited dynastic wealth, yet when he buys family businesses he retains family business managers? Did Nebraska Furniture Mart fail to become a national business because it is family run?

  • How can Buffett call derivative financial instruments “financial weapons of mass destruction,” yet he has purchased numerous derivative contracts and claims he will make money on every contract?

  • Buffett likes businesses that aren’t capital intensive, so why has he recently purchased capital-intensive companies such as power utilities and railroads?

Pilgrimage to Warren Buffett’s Omaha is an essential book for the student of Buffett and any person interested in the unique company that is Berkshire Hathaway. Matthews is both full of praise for Buffet and Berkshire, yet does not shy away from raising some difficult and legitimate questions that while acknowledge Buffett as an exceptional or even unique investor, recognize that he too is prone to human foibles, frailty and error. Few books on this subject have done this, and for this reason alone is a reason to buy this book.

West of the West, by Mark Arax


West of the West, by Mark Arax, (New York: Public Affairs Books; 2009), 347 pages.


West of the West is a collection of essays written by former Los Angeles Times journalist Mark Arax about the lives of some of the Golden State’s least known residents. Arax doesn’t write about the lives of the glamorous or the famous, but the lives of some of the forgotten or overlooked peoples of the vast population patchwork that is California. Arax combines journalism, essay, and memoir to capture the lives of Asian immigrants seeking to make a better life for their families in the United States, and in particular, one family in Los Angeles’s San Gabriel Valley. He also writes on the varied lives of people in California: the life of the United States’s largest pomegranite grower; the lives of hippies (both old and young) using their entrepreneurial skills in the marijuana capital of the United States; a somewhat disturbing F.B.I. investigation and prosecution of a terrorist suspect in Northern California; and, among other stories, the deeply personal epilogue to the murder of his father in California’s Central Valley more than 30 years ago.

This book is the first book in some time that I’ve failed to finish. The stories are well written, and at times tend to emphasise the bleak, troubling and disturbing sides of life. This may be the author’s intention, to alert the reader that like anywhere, life in the Golden State is not all glamor and glitz, or peaches and cream. My choice not to finish this book is not a reflection of Arax’s skills as a writer and the quality of this book. Rather, its a reflection on me and the fact that at the moment, I’d rather read something a bit lighter. Plus, I have a large pile of other books to read, and I have to get this one back to the library to avoid the overdue charges.

Outliers: The Story of Success, by Malcolm Gladwell

Outliers: The Story of Success, by Malcolm Gladwell, (New York: Little, Brown and Company; 2008), 309 pages.

Outliers is an explanation of why statistically different or statistically significant observations and results occur, in particular, super or exceptional successes. Gladwell identified some common features of successful people:

  • They have about 10,000 hours of practice or experience in their chosen field that raised their skills so that they would be universally recognized as being at the top of their field.

  • The successful are not the brightest or most gifted, but are those who were given opportunities, took them, and practiced (and practiced, and practice some more).

  • The successful were placed in close proximity to, or in, an environment conducive to success.

Gladwell illustrates his points through case studies. Soccer and Canadian ice hockey players have a better chance at becoming all-stars if they are born in January. The Beatle’s success was, in part, due to their time working in Hamburg where they played music for at least 10 hours per day. Bill Gates, the Microsoft co-founder, said his success had a lot to do with being born in the 1950’s and having almost unlimited free after-hours to a university’s programmable computer, and later the gift of a computer terminal while in junior high school. Attorney Joe Flom was born at a time when people from his background were excluded by the establishment law firms from practicing commercial law. He practiced the kind of law that establishment firms tended to avoid and after 20 years dominated his field of takeover law. Conversely, Korean Air turned around its poor safety record (i.e. a polite way of saying too many crashes) by giving its pilots the opportunity to escape its cultural legacy which included subservience and deference.

This book’s strength is the case studies on what it takes to be a success. These are what make the book worth reading. None of Gladwell’s work is new or earth-shattering. While at times long winded (I found myself skimming paragraphs, and later sections and chapters), Outliers is, overall, an entertaining selection of case studies. Look at other books if you are seeking specific help on how to change your life: this book does not provide specific or personal advice. It provides great case studies on success and the common features that contribute to attaining success: commitment, opportunity, and proximity to an environment conducive to success. If we remember these things, it’s probably worth laboring through the 309 pages.

The Tipping Point: How Little Things Make a Big Difference, by Malcolm Gladwell

The Tipping Point: How Little Things Make a Big Difference, by Malcolm Gladwell, (New York: Back Bay Books / Little, Brown & Company;  2000),  301 pages.

Gladwell best summarizes this book in the introduction.

"
The Tipping Point is the biography of an idea, and the idea is very simple. It is that the best way to understand the emergence of fashion trends, the ebb and flow of crime waves, or for that matter, the transformation of unknown books into bestsellers, or the rise of teenage smoking, or the phenomena of word of mouth, or any number of mysterious changes that mark everyday life is to think of them as epidemics. Ideas and products and messages and behaviors spread just like viruses do.”

Gladwell uses examples to convince us of the validity of his theory. Key to his argument is his 3-part explanation of how viruses or epidemics spread: the Law of the Few; the Stickiness Factor; and the Power of Context. The Law of the Few is that epidemics/viruses are driven by a handful of exceptional people who find about the “new thing/trend” and through energy, enthusiasm, and personality spread the word. They are like apostles or missionaries who have heard The Good News and enthusiastically win converts.

The Stickiness Factor is what makes a message memorable – think a slogan, jingle or image. The Power of Context says that people are a lot more sensitive to their environment than they may seem. These 3 laws apparently explain how various  changes occurred: how Hush Puppies became cool, and the fall in New York crime rates.

The Tipping Point presents a fairly convincing argument for Gladwell’s theories. He supports his theories with appropriate facts and does his best to convince his reader. While entertaining, for a while, I wonder whether Gladwell is trying to apply theoretical and scientific methods to things best explained through commonsense. Do we need laws and rules to explain how things spread? Do we need to give pseudo-scientific names to commonsense and ordinary things? This giving complex names to simple things is all pervasive: what used to be called soap is now a “cleaning system,” a simple fence is now called a “fencing system.” Gladwell’s explanation of how things changed is very enjoyable; it’s compulsive reading. But we all know that ideas spread, fashions change and people evangelize others to new ideas using clever marketing techniques. Do we really need a pseudo-scientific theory and explanation for something as commonsensical as that?

No Bull: From the Bush to the Baggy Green, by Andy Bichel


No Bull: From the Bush to the Baggy Green, by Andy Bichel,
(Sydney, Australia: ABC Books; 2009), 246 pages.

No Bull is a light and breezy account of Andy Bichel’s life as a cricket player. The book is a recollection of the author’s rise from school boy player in the Lockyer Valley west of Brisbane Australia, through various State and national representative teams. The author recalls his struggles, as well as the help he received from kind souls along the way, and, once he reached the highest levels of the game, the difficulties he faced in staying competitive at that level.

Bichel’s book is an easy-going read, accessible to young and old alike, but, on balance, perhaps unlikely to hold much interest for people not interested in cricket, especially Australian cricket in the 1990’s and 2000’s. The most engaging aspect of Bichel’s book is his demonstration that success can come from persistence. Bichel was regularly disappointed when left out of the starting and touring line-ups of various teams. On the occasions when he was unexpectedly brought into the team due to another player suffering an injury, Bichel often had stand-out and match-winning performances. Bichel was persistent and patient so that when an opportunity came along, he made the most of it. This perhaps is the most compelling aspect of Bichel’s book: persistence, patience and opportunity, when combined, can produce outstanding, spectacular and often career-best results.

Sydney, Cipher and Search: Solving the Last Great Naval Mystery of the Second World War by Captain Peter Hore


Sydney, Cipher and Search: Solving the Last Great Naval Mystery of the Second World War, by Captain Peter Hore, (Naval Institute Press: 2009), 320 pages.

Captain Peter Hore has written, arguably, the definitive book on the “mystery” of the sinking of the Australian cruiser H.M.A.S. Sydney by the German raider Kormoran in November 1941 with the loss of all 645 hands. It has long been acknowledged that the Australian light cruiser H.M.A.S. Sydney was sunk by the German raider Kormoran off the coast of Western Australia. Survivors of the Kormoran (disabled in battle and subsequently scuttled) captured and interred in Australia reported individually to investigators that they engaged H.M.A.S. Sydney at a range of about half a mile, causing great destruction that eventually caused her to sink. The “mystery” referred to in the title is how the Kormoran, a converted freighter with guns and torpedo armaments equivalent to that of a cruiser, could cause the loss of the pride of the Australian navy with the loss of its entire crew. To his credit, Captain Hore presents all of the facts from primary sources, including some that he discovered, to explain what happened. Captain Hore's sources include re-constructed and newly translated (by the author) battle logs written in code in a German-English dictionary by the Kormoran’s captain; Australian, German and British naval archive material; the author's interviews of surviving Kormoran crew members in Germany and Chile; and photographic evidence of the wreck of H.M.A.S. Sydney, located for the first time in 2008.

Captain Hore’s book is neither emotional, nor accusatory; he neither evangelizes his reader to a particular explanation or theory, nor attributes either praise or blame to the crews of H.M.A.S. Sydney nor the Kormoran. Rather, he simply collects evidence from all sources to explain what happened and lets the facts speak for themselves. The facts are that H.M.A.S. Sydney failed to follow established naval wartime procedures for identifying suspicious freighters, and brought herself broadside to the Kormoran at a range of approximately half a mile. When H.M.A.S. Sydney (which was not at battle stations) challenged the Kormoran, the captain of the Kormoran removed her disguise, ran up her German flag and commenced firing on H.M.A.S. Sydney with all of her guns and torpedoes causing catastrophic damage that caused her loss, and the loss of all crew. H.M.A.S. Sydney’s counter fire disabled Kormoran, which her crew subsequently abandoned and scuttled. These facts were found to be consistent with photographs of the wreck of H.M.A.S. Sydney. Captain Hore’s book presents all of the known facts, which leaves this reader with the opinion that the Kormoran should be solemnly recognized as having achieved something quite extra-ordinary: this was a major success for the Kormoran – something never before achieved where a raider (a converted freighter with significant weaponry) sank a cruiser with the loss of all hands. Conversely, for H.M.A.S. Sydney, it was a complete and total disaster. What is not known, nor will ever likely to be known, is why H.M.A.S. Sydney’s captain disregarded established wartime naval procedures and placed his ship and the lives of all of the crew in such a vulnerable position.

Captain Hore has written a fine book that explains all of the facts on the loss of H.M.A.S. Sydney. The book reads like a novel: it is interesting and fast-paced mixing discovery, de-ciphering and code breaking, travel, and first person interviews on multiple continents. The final product is an excellent story accessible to both experienced armchair naval experts interested in relatively obscure naval battles, and civilians who simply enjoy a good story well written. At the same time, this book could rightly be considered the definitive or authoritative book on this subject, which in itself is quite an achievement.

Boomsday: A Novel by Christopher Buckley




Boomsday: A Novel, satirist Christopher Buckley, (New York: Hachette Book Group; 2007), 318 pages.


In Boomsday: A Novel, satirist Christopher Buckley turns his attention to the excesses of the baby boomer generation, and their negligent handling of the looming insolvency of Social Security and Medicare. Buckley’s book imagines an inter-generational public policy war between profligate, entitled, self-indulgent baby boomers and the younger generations that will be stuck with the bill for funding the ponzi schemes known as Social Security and Medicare. The major character in the novel is the aptly named Cassandra Devine, an exceptional student that gained admission to Yale, only to find out after her admission that her father had spent her tuition money on a business start-up, and that she would be forced to pay for college through joining the army. After a brief time in the army, and 10 years in Washington D.C. as a public relations specialist, Cassandra spends her nights as a blogger who campaigns against the excesses of the baby boomers. One night she suggests that baby boomers be given financial incentives to kill themselves by age 75 so as to save their country from the financial burden of caring for them. The idea catches on among the younger voters stuck will the bill for funding baby boomer Social Security and Medicare, and becomes a major public policy issue during a Presidential election.

Buckley’s well written satire again exposes the ridiculousness and comical ways in which Washington D.C. operates. Nonetheless, as entertaining as Buckley’s book is, we should ask ourselves what becomes of the chaos that the main character causes? What does she achieve by proposing such an outrageous policy that becomes the focus of an election campaign? Apart from creating chaos and humorous satire, Buckley seems to say that very little is resolved. Sure, there are interesting and outrageous political debates, and many conflicts and arguments, but in the end, the only thing that has improved is the career prospects of the participants while the issue of the solvency of the major entitlement programs is “kicked down the road.” Most of the characters have better jobs in the end. Perhaps the greatest irony is what happens to Cassandra: in the great tradition of solving political problems, she is appointed to the position of Commissioner for Social Security and thereby made responsible for the running of the system she vociferously opposed. The chief critic is made responsible for administering the system she criticized.

Buckley’s gift is his ability to shine a light on the looming financial calamity facing the U.S.A. in a quick-witted, humorous, and outrageous manner. He’s again written an enjoyable book that mocks American political institutions in a manner that only an insider can, while making “Cassandra-like” warnings of a potential fiscal calamity.

Final Impact by John Birmingham




Final Impact by John Birmingham, (New York: Random House; 2008), 413 pages.
Final Impact by John Birmingham is the third book in the series of three novels in the so-called “axis of time” series. The premise of the series could be summarized in the form of a question: “What do you get when a 2021 military experiment transports an American-led multinational naval armada `back through time to 1942, and relocates the armada to the middle of the U.S. naval task force heading towards Midway Island and the battle of Midway?” John Birmingham answers this question over the course of the three novels.
In Final Impact, the axis and allies make use of their acquired knowledge of the future to prosecute World War II to its conclusion. The impact is both significant and devastating. Each side develops more devastating weapons, such as the jet aircraft and a form of cruise missile, with the intent of using them to defeat their opponents. New military campaigns emerge in this new and alternative history: the Japanese are defeated at Hawaii and in other Pacific naval battles; and, the allies liberate Europe by an invasion started at Calais rather than Normandy. These changes from the history we know, while novel, do not change the result of the war with both Germany and Japan suffering crushing defeats at the hands of the allies; same result, but slightly different means.
Birmingham's clever and innovative series of novels is extremely engaging, fast paced and entertaining for all lovers of fiction, not just war buffs and technology and science fiction geeks. The major entertainment comes from what was once called "culture shock" of each of the peoples, in this case, the shock experienced by people from 2021 having to live and work during the Second World War, and the shock experienced by people from 1942 having to deal with the "more enlightened," "liberated," de-segregated, and “broad-minded” military personnel from the future. To each, the other appears barbaric and crude, but nonetheless hey put these differences aside for the purpose of achieving their goal of winning the war.
Final Impact is a fitting conclusion to the axis of time series. It's a more tightly written book when compared with its predecessors, with a greater emphasis on the tightness of the story with fewer detours down interesting subplots. Its a fine conclusion to the series and will inevitably leave the reader wanting more. One suspects that Birmingham will revive these characters some time in the future because they are simply too good to only be the protagonists in three books. We should all look forward to future installments.