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Crash Proof: How to Profit From the Coming Economic Collapse (Lynn Sonberg Books) |
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Amazon Sales Rank: 136
Publication Date: 2007-02-26
Publisher: Wiley
ISBN: 0470043601
Type: Hardcover
Number Of Pages: 288
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The economic tipping point for the United States is no longer theoretical. It is a reality today. The country has gone from the world's largest creditor to its greatest debtor; the value of the dollar is sinking; domestic manufacturing is winding down - and these trends don't seem to be slowing. Peter Schiff casts a sharp, clear-sighted eye on these factors and explains what the possible effects may be and how investors can protect themselves. For more than a decade, Schiff has not only observed the U.S. economy, but also helped his clients reposition their portfolios to reflect his outlook. What he sees is a nation facing an economic storm brought on by growing federal, personal, and corporate debt, too-little savings, a declining dollar, and lack of domestic manufacturing.
Crash-Proof is an informed and informative warning of a looming period marked by sizeable tax hikes, loss of retirement benefits, double digit inflation, even - as happened recently in Argentina - the possible collapse of the middle class. However, Schiff does have a survival plan that can provide the protection that readers will need in the coming years.
Average Rating: 
Review: 2009-01-08
Prophetic insights
Schiff predicts in 2006 the financial chaos in we've seen since 2008. His makes-sense explanations hit home!!
Review: 2009-01-06
It's 2009 and this book has been right so far...
Reading this book now (January 2009) is like watching a horror movie and seeing yourself in it about to be attacked.
Schiff does a great job explaining the causes for our current situation, and laying out why there WILL be a crash and a complete devaluation of the dollar within the next few years. The government may be able to slow the process down, but his big prediction is that a recession will eventually combine with hyperinflation to cause the economy to collapse. The inflation may come from foreign governments dumping $ USD in favor of other reserve currencies, or from the US government simply printing out more paper. The big variable here is, how much will foreign governments be compelled to pull out of the US and invest their money elsewhere, and when do they lose their confidence in the value of the USD? His advice on saving SHOULD be common sense, but the sad truth is that it isn't anymore.
While parts of the book seem doom & gloomy, and the later parts have a bit of shameless self-promotion in them (he runs a brokerage firm that advises clients according to his perspective,) the advice and knowledge he includes in the book are worth their weight in gold.
Take any economists' predictions with a grain of salt, but this guy has been pretty darn accurate so far. Read it NOW; it may change your habits for the better.
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Amazon List Price: $27.95
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