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While the "experts" want us to believe that all is well (or will be soon), nothing could be further from the truth. The worldwide financial crisis of 2008 and 2009 was just a sneak preview of what is to come. For those who act quickly and correctly, there is still time to protect yourself, your family, and your business in the next global money meltdown.
phoovermt | Hi ha 5 ressenyes més | May 5, 2023 |
An excellent book that can really open your eyes to what may lie ahead of the US Economy as well as the Global Economy. Although the authors successfully predicted and foretold the Economic Meltdown of 2008 in the first edition of this book released in 2006, subsequent predictions outlined and explained in the 2011 Edition have yet to materialize as the end of 2016 approaches. This has caused many readers who read the 2015 edition of this book to lose the credibility of the authors. I disagree. My personal view is that the tactics of The Fed, ECB, BoJ and the BoE have largely propped up the financial markets. This has led to keeping the markets artificially inflated, especially during a Presidential Election year. Although I don't agree with all of the conclusions reached by the authors, I respect their willingness to take a stance. I do believe much of what the authors have predicted will eventually play-out, especially when the governmental institutions in the US, Japan and Europe "run out of tricks". The economic downturn may not be as severe as predicted in this book but, at the same time, it could end up being worse. The takeaway from this book is to keep up with what is happening and then adjust investments for not only protection but also to take advantage of declines. When a bottom is reached there will be great opportunities in solid investments. The edition discussed here was written in 2011. I plan to read the 2015 edition to compare and contrast what was said. I listened to the audio book version of this book which was purchased at I intend to purchase either a hard copy or Kindle version of this edition of the book for reference.… (més)
SPXInvesting | Hi ha 5 ressenyes més | Aug 27, 2016 |
The author's analysis of the current Bubble Economy is compelling. They don't hold out any hope for good times ahead, although they have ethically suspect recommendations for individual protection & prosperity in the coming debacle. Their argument, however, could have been condensed into a medium-length article. The constant repetition of points already made, & a fair amount of self-congratulatory "we got it right the first time, so you should trust us now" rhetoric becomes, finally, more annoying than instructive.
Interesting in light of Obama's 2012 State of the Union speech with its emphasis upon productivity. Authors claim that only "real" growth can soften the bursting of the final of 4 economic bubbles to burst (real estate & stocks in 2008; US dollar & debt on the horizon). They expect too little too late, however (a bit like mitigating the consequences of Global Warming or Climate Change). Neither the authors nor the President, however, speak to environmental limiting factors to Growth. To my mind, these remain the elephant in the room that no one fully acknowledges. A capitalist (even a communist) economy is predicated on growth, not sustainability. Continuing increases in GDP require either more consumption by existing populations (since there must be an upper limit to need, even perhaps to want, such increases necessarily must reach an end, where all needs are met, where consumption reaches its saturation point) or continual increases in global population that would create new consumers (here we run into the carrying capacity, however defined, of the planet). According to some, at 7 billion world population we've already exceeded the Earth's carrying capacity by as much as 5 billion!
In the short term, increased consumption can arise from more equitable distribution of income and wealth, which would create billions of "new" consumers. Also, "new" products to meet infrastructure & "clean" energy demands might impact both demand for goods and somewhat mitigate environmental damage. The risk of environmental collapse won't go away however. In the long term, we have to move from growth to sustainability, from population increase to population decrease (unless, as some suggest, we develop the capacity to colonize another planet).

… (més)
Paulagraph | Hi ha 5 ressenyes més | May 25, 2014 |
I can't recall who exactly recommended this to me when I first picked this up back in 2010 or 2011, but I do recall the cautionary note that they took as they described it and the author's conclusions. The global recession had begun four years earlier, since which time I had just barely been able to sell a house (seriously--I closed the sale of the house the same week that Bear Sterns ceased to be), had graduated from law school at perhaps the worst time for new attorneys to be entering the work force, and had managed to find a good, but not great paying, job at a local company. Financially speaking, the future seemed bleak, and I was not sanguine about my prospects for future income. [b:Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown|6601861|Aftershock Protect Yourself and Profit in the Next Global Financial Meltdown|David Wiedemer||6795730] seemed like a warning voice against future economic calamity, so I picked it up and gave it a read.

Unfortunately, I was, largely, disappointed. Falling into that category of financial reading that seems to best be described as "fear mongering," I found it full of doom and gloom, threatening prognostications, and warnings about the future. I suspect that authors David and Robert Wiedemer, and Cindy Spitzer have made better money of the sale, and subsequent editions of, the book than most readers have from the advice they give.

This isn't to say that there may not be substance to their arguments. Looking at a succession of financial bubbles, including both the dotcom bubble and the more recent housing bubble, they posit that the bubbles have led the Federal Reserve to engage in reckless market manipulation that is going to result in 50% unemployment, a 90% stock market crash, and 100% annual inflation, starting in 2012.

Their advice? Sell your home, cash out your stocks, and convert your assets into gold and inflation pegged securities.

That's a stark transition, and from a set of authors who are perhaps inflating their own expertise in economic prophesy a bit further than their resumes merit.

Meanwhile, we find ourselves in 2014, the economy on the mend, and the catastrophic events predicted by Aftershock as yet unrealized. I suppose that there is still time, and I don't want to give the impression that everything is smelling of roses, but perhaps the take away is that the success of Aftershock is more about marketing for its authors than about economic prediction relevant to readers.
… (més)
publiusdb | Hi ha 1 ressenya més | Apr 29, 2014 |


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