The Ascent of Money: A Financial History of the World by Niall Ferguson
The Ascent of Money: The Financial History of the World is Harvard professor Niall Ferguson's tenth book, published in 2008, and an adapted television documentary for Channel 4 (UK) and PBS (US). It examines the long history of money, credit, and banking. In it he predicts a financial crisis as a result of the world economy and in particular the United States using too much credit. Specifically he cites the China–America dynamic which he terms Chimerica where an Asian "savings glut" helped create the subprime mortgage crisis with an influx of easy money.