Gaineswood Investment Manager William Baker's Debuts New Book "Endless Money - The Moral Hazards of Socialism"

While credit crises, which date as far back as the great Roman Republic, are nothing new, the meltdown of the financial sector in 2008 still took the world by surprise. With currency created at the click of a mouse-or produced in quantity when a central bank credits its balance sheet in exchange for government debt, mortgages, or the equally formless currency of other nations-an era of Endless Money was born. And now, we find ourselves in a very unenviable position.

Nobody understands this better than author William Baker-a financial professional with over twenty-five years of experience in investment research and equity portfolio management. With Endless Money, he skillfully  examines how the U.S. government and the country's financial systems have embraced socialism, and why cultural deterioration reinforces the trend and jeopardizes democracy. Along the way, Baker reveals how socialism is embodied in two things-the socialization of income and the socialization of credit-and discusses why this is so dangerous.

Page by page, you'll discover why today's economy and capital markets are facing the long-term buildup of public and private credit, and how-as we incur more debt through greater government spending, and take on higher taxes-our leaders fail to find few realistic solutions to this situation. Divided into six comprehensive parts, Endless Money offers an honest assessment of where we're heading and why we cannot continue down this road.

Filled with in-depth insights and practical advice, this reliable resource highlights how the combination of a centrally managed fiat currency system and a tax code that confiscates earned income, rather than mildly taxing changes in wealth, could produce a knockout punch to entrepreneurship and our society.

About The Author

For over 25 years William W. Baker, CFA has been an equity money manager or investment research analyst in an institutional setting. More than half of these years he has spent concurrently developing two companies: GARP Research & Securities Co. (member FINRA, SIPC) and Gaineswood Investment Management, Inc. (an SEC registered investment advisor). Before this he was at Reich & Tang, Oppenheimer Funds, and Van Kampen American Capital, being directly responsible for mutual funds or institutional accounts during most of that interval.

One of the funds he managed at Oppenheimer was awarded a five-star rating in November 1990 shortly before he left the firm. Mr. Baker received his master of business administration from the Amos Tuck School at Dartmouth College in 1980, and he was granted a bachelor degree in economics in 1978 from the University of Pennsylvania. He is vice president and a trustee of the Harbour League, and he recently founded ConservativeEconomist.com.