Product Description
Bestselling author John Talbott outlines the troublesome economic times ahead and what can be done about them
Tough times are here, and author John Talbott-who accurately predicted the dot.com technology stock collapse as well as the recent housing, mortgage, and financial crises-argues that the coming global recession will be unlike anything we've ever seen.
In Contagion, Talbott turns his attention to this crisis and offers insights on what can be done to navigate such treacherous terrain. Talbott sets the stage by discussing how government borrowing and spending on the war, healthcare, Social Security, and corporate giveaways combined with dramatic increases in personal spending, fueled by credit card and mortgage debt, have funded unsustainable levels of personal and government consumption.
- Offers practical suggestions as to how investors and homeowners can best weather this storm with straightforward advice on where to invest
- Examines real estate and housing issues to help you make the best decisions possible in this arena
- Details the best ways to utilize stocks, bonds, TIPS, and commodities, and to prosper during this global crisis
- If you really want to protect yourself from the unfolding economic crisis, then Contagion is the book you need to read.
From the Inside Flap
During these turbulent economic times, with what could be the deepest global recession we've ever seen bearing down on us, the one thing you don't need is another book describing how we've gotten to this point. What you do need are insights into what will happen going forward and how you can use this information to protect what really matters—including the value of your home and portfolio as well as the security of your job and way of life. If that is your goal, this book is a must-read.
While the concepts surrounding our current situation may be complicated, you don't need to be an economic expert to understand what's going on and what may happen next. But you do need to be prepared, and the analysis offered here can help both anxious individuals who are just starting to realize the magnitude of this event as well as those more familiar with finance get through the difficult times ahead.
Over the course of the last decade, bestselling author and former investment banker John Talbott's string of accurate predictions regarding the bursting of the Internet stock and housing bubbles, the mortgage mess, and downturns in the general economy have been well documented in his numerous books including Slave Wages, The Coming Crash in the Housing Market, and Sell Now!: The End of the Housing Bubble.
Now, with Contagion, he puts his reputation on the line again and boldy predicts how the current global economic crisis may change our lives for much longer than politicians care to admit.
Using a much broader definition of the term "contagion"—to include financial, governmental, and societal matters—this timely book offers essential insights that investors, business executives, and concerned citizens must be aware of in order to protect themselves and their assets, companies, and lives from a prolonged and deep global recession.
Page by page, Talbott explains the history behind our present economic condition and, more importantly, helps us understand where we go from here. He explains the severity of the financial and economic problems plaguing us and the reasons behind them.
Talbott's analysis of the current financial crisis and its root causes extends far beyond simple subprime mortgage lending. He explains that all types of lending will be threatened in the brave new world and that the economy won't recover until banks, businesses, government, and consumers all deleverage and learn to live with less debt and less consumption. But, Talbott does not stop there. He blames deregulation for allowing the banks to do this to us, but also blames our government representatives who took campaign contributions in exchange for a laissez faire approach to market regulation. Finally, he asks each of us to reflect on the importance of materialism and consumption in trying to define and live a full and rich life.
