Customer Reviews

Bankruptcy 1995: The Coming Collapse of America and How to Stop It

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I first read this book after its initial printing and was intrigued with the analysis of economies that failed, and why.

What I found MOST intriguing was the steps the governments took to stabilize their hold over their citizens - which included more controls over their movement AND the movement of their money.

Does ANY of this sound familiar?

With it now being 2006 and 2007 is just around the corner, this book should be on your read now list. Why? Because too much of today's economic picture/climate is paralleling the ones in the book. Controls are being put upon us that are like the ones enacted by a failing economy like several of the ones profiled in the book.

The Orwellian nightmare is much closer than you think!

And...

if history repeats itself...

well, better to be forewarned and better prepared.

I'm going to read mine again.

In this current bubble of false prosperity people are choosing to criticize Harry Figgie rather than examine the evidence he presented. Congress hasn't changed with the Republicans; they are still spending beyond the money taken in. The national debt is still growing and we are still headed for a financial disaster. In the Great Depression the Government bailed out the people with funny money. When the Government goes broke, who will bail them out?

Those who consider it all hype just because it didn't happen on Harry Figgie's timetable are only deluding themselves.

I read this in hardcover when it was first published and it was very interesting and seemed credible. It did not come true in 1995 as predicted. However, in June, 2002 so much of that book has come true it is frightening.

In retrospect, legislation proposed by Clinton/his administration (and then enacted) postponed the predictions in this book. Just in recent months (Spring, 2002) this book has proven itself. Unfortunately, more of its predictions may come to pass.

Easy to read, but very disconcerting because of the negative impact on this country. Services will decline due to economics is just one prediction. Yesterday's news announced "budget cuts" in Tulsa schools including more pupils per classroom and school beginning later in the calendar year, elimination/reduction in programs,etc. Roads not being repaired and then falling apart has already occurred in OK due to "lack of funds". Hopefully, not all the predictions in this book will come true.

I read this book back in 1993. It is a very good book written based on facts, not one of those conspiracy theory deals. Over the years, I wondered why Figgie got it wrong. It is now 2008 and America is not bankrupt, yet. Of course with recent events, it appears the only thing Figgie got wrong was the year.

I read this in the early nineties, and have looked at our fiscal situation from a different perspective since than. The authors' forecast has proven correct, and except for a few bubbles manufactured by the Fed along the way, his predictions are fairly timely. I write this in late 2010 as we're facing further economic crises. Because of this book and the interest it aroused in me 20 years ago, I can see the natural progression of our situation.

Or, maybe not prophetic, just common sense. Foreword by Sen. Warren Rudman. This is an analysis of the debt situation in 1992, with plenty of charts. Blame is laid on both Democrats and Republicans, though it would seem that Clinton did heed these warnings when he became President. Interesting reading for a better understanding of the fact that our "current" economic problems are actually over a decade old.

Back when this piece of dreck first appeared, people were all up in arms. In the end, bankruptcy DID come--for Harry Figgie, who lost his company.

This book scared alot of people when it first came out. And it still scares people. I remember laughing when I read this book a few years ago because the author, Figgie, uses math as bad as that used by the federal govt. to reach his conclusions. Can the U.S. go bankrupt? Sure, but if the govt. can balance the budget, including off-budget items, the economy can grow past this debt and eventually eliminate it.

The first reason why we haven't reached a position of "Bankruptcy 1995" is because of the Republican Congress that came in and made the hard choices to balance the budget and revive a sagging economy that was suffering under the control of the Clinton administration and his left-wing mob in Congress.

The second reason is because Figgie was basing his numbers on how he thought revenues and expenses should be calculated, not how the govt. actually does it.

Figgie is right that at some point we must stop bleeding red ink or we'll be faced with an massive economic disaster. On the other hand, Figgie used bad math and hysteria to sell his book, not taking into consideration the various options of how the govt. can get out of this situation. This book only gives you half the story, and as such, I can not recommend this book.