Fast-forward to 2009, and much of what the authors predicted has come true—high unemployment rates, record-setting foreclosures and bankruptcies, as well as the near global collapse of financial institutions once thought to be so secure.
With Financial Reckoning Day Fallout, Bonner and Wiggin return to reveal even more down-to-earth wisdom and help you chart your own financial destiny in today's precarious investing climate. Expanding upon the ideas they put forth before the current global downturn unfolded, the authors discuss what's behind it all, what's in store, and what you can do to safeguard your investments.
Written in conjunction with the tenth anniversary of the authors' popular financial newsletter—The Daily Reckoning (www.dailyreckoning.com)—this fully updated guide effectively explains that the hazards of democratic consumer capitalism and the financial follies of history are not a thing of the past, but an ongoing issue with no end in sight. Along the way, it also explores what's really going on beneath the surface and outlines the steps you need to take to survive the growing global depression. Topics touched upon throughout these pages include:
How the current economic downturn relates to worldwide events from a historical perspective
Why high-spending, high-borrowing consumerism "leveraged" the U.S. economy and what you might expect from the global depression ahead
What the legacy of Fed chief Alan Greenspan "ought" to be
Why Japan's "miracle economy" unexpectedly collapsed and what this example means for us now
Honest and accurate, Financial Reckoning Day Fallout offers you the best chance to protect your assets and grow your portfolio in these difficult financial times.
I found the writing in the book engaging and often humorous- that's often tough to find.
This book is in desperate need of good pruning, but the best decision, in my opinion, is not to waste your money (even if your dollars are not worth very much!).
The book just doesn't cover what the title (and subtitle) states that it is going to cover so from the get-go it is misleading.
The big commercial groups own Japan's production and these groups borrowed money from big Japanese banks. In the 70s and 80s as stock prices went up and savings went down. Read morePublished on April 23, 2012 by Golden Lion
There are some good points in the book. Cannot give it more than three stars because it is not clear what his points are. The organization is poor.
P. Read more