Financial Reckoning Day Fallout: Surviving Today's Global Depression [Audiobook, CD, Unabridged] [Audio CD]

Addison Wiggin (Author), William Bonner (Author), Mel Foster (Narrator)

Book Description

Publication Date: November 16, 2009

When the first edition of Financial Reckoning Day was published more than six years ago, many critics felt that maverick financial writers Addison Wiggin and William Bonner were overly critical of the United States' increasing debt and the start of what seemed to be the foreshadowing of economic concerns. Fast-forward to 2009, and much of what the authors predicted has come true-high unemployment rates, record-setting foreclosures and bankruptcies, and the nearly global collapse of the financial institutions once thought to be so secure.With this updated edition, Financial Reckoning Day Fallout, Wiggin and Bonner bring you even more down-to-earth wisdom. This timely guide reveals 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. With this book, you'll gain a better perspective of what's really going on and discover the steps you need to take to survive the difficult times ahead.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.

Editorial Reviews

From the Inside Flap

When the original edition of Financial Reckoning Day was published early in this decade, many felt that maverick financial writers William Bonner and Addison Wiggin were overly critical of the United States' increasing debt and unfair in their foreshadowing of economic catastrophe.

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.

From the Back Cover

In Financial Reckoning Day—an international bestseller published early in this decade—maverick financial writers William Bonner and Addison Wiggin made some bold predictions about the economic difficulties the United States was about to encounter. Unfortunately, much of what they warned about has come true.

Now, in Financial Reckoning Day Fallout, Bonner and Wiggin return to reveal exactly how these events have unfolded—high unemployment rates, record-setting foreclosures and bankruptcies, as well as the near global collapse of the financial institutions once thought to be so secure—and what you can do to protect yourself from today's growing global depression.

Praise for the First Edition

"An investment book that will not only enlarge your investment horizon, but also make you laugh and thoroughly entertain you for a few hours.
"—Dr. Marc Faber, author of the bestseller Tomorrow's Gold, and publisher of the Gloom, Boom & Doom Report

"Financial Reckoning Day is . . . in the category of scintillating sex or good vision, something to be savored and enjoyed—before it is too late.
"—JAMES DALE DAVIDSON, author of the bestseller The Great Reckoning and The Sovereign Individual

"A powerful and insightful vision . . . each paragraph stimulates a new rush of thoughts that fills in gaping holes in the investors' understanding of what has happened to their dreams . . . while prepping them to confront any new confusion that may arise."
—MARTIN D. WEISS, author of the bestseller The Ultimate Depression Survival Guide

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Product Details

• Audio CD
• Publisher: Tantor Media; Unabridged,Unabridged CD edition (November 16, 2009)
• Language: English
• ISBN-10: 1400113695
• ISBN-13: 978-1400113699
• Product Dimensions: 5.4 x 6.5 x 1.1 inches
• Shipping Weight: 12 ounces (View shipping rates and policies)
• Average Customer Review: 3.2 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #3,399,044 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

51 of 52 people found the following review helpful:

1.0 out of 5 stars Very disappointed, November 18, 2009

By 

deacm "deacm" (pennsylvania) - See all my reviews

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This review is from: Financial Reckoning Day Fallout: Surviving Today's Global Depression (Agora Series) (Hardcover)

I have followed Bonner over the years and have appreciated his perspective. This book however was a major disappointment. 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. It spends most of its time doing a haphazard and rambling discourse on the economic history of the last 100+ years with wayyy too much time spent on Japan and Greenspan. The title of the book is "Financial Reckoning Day: Fallout"............precious little space is devoted to the current fallout from 2008-2009. Most of the pages are devoted to 1960-2002. It merely covers the ground that we've all heard ad infinitum over the last two years already in the media/CNBC, nothing really fresh at all and more importantly he does NOT spend much time covering the 'Fallout" scenarios yet to come .

The subtitle is "Surviving Today's Global Depression." You would think, therefore, that there would be pages devoted to 'what you can do in such a depression'. You would be disappointed. Only the last page or so even attempts to address that topic but wanders from it immediately. All Bonner states in gloomy repetition can be summarized by the last sentence in the book: "Our advice? Fold 'em, get up from the table before they clean you out'. I was expecting better and more detailed advice and strategies from someone as experienced. The book is a real downer and I got not one good idea from it.

36 of 38 people found the following review helpful:

5.0 out of 5 stars Insightful and Provocative, August 11, 2009

By 

Book Lover12 - See all my reviews

This review is from: Financial Reckoning Day Fallout: Surviving Today's Global Depression (Agora Series) (Hardcover)

Bonner and Wiggin are great writers and wonderful at relaying what went wrong in the markets and what we can expect from here. I was a fan of Wiggin's book IOUSA and think this one takes those ideas even further.

The book explores the major correction underway in the US market. According to the author's "the feds' efforts to stop the progress of capitalism will have some spectacular consequences." The first edition of the book was right in its assumption that the US market was heading toward tough times, and based on their perceptive research, I believe their latest set of predications: "Advice to the Class of 2009" (as they put it).

This book will make you think about the risks that you take before you invest and more importantly before you make choices that effect your financial future. Do you really need to take out another line of credit? Living within your means will save you in the long run, and Bonner and Wiggin understand that. Chapter 3 is one of the best looks at the history of the "price of progress" and how a mix between a lack of foresight and an insatiable appetite lead to the economic downturn. I found the writing in the book engaging and often humorous- that's often tough to find.

16 of 16 people found the following review helpful:

4.0 out of 5 stars some good points in the book, October 22, 2009

By 

photondn (Florida, USA) - See all my reviews

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This review is from: Financial Reckoning Day Fallout: Surviving Today's Global Depression (Agora Series) (Hardcover)

Financial Reckoning Day Fallout is a collection of history and opinion explaining the lead up of the 2009 Depression. (I think this is a Depression, not a Recession).

This book is not cohesive as The New Empire Debt which maintains the idea the US is practically an empire. This book is a loose collection of history and opinion. I did not enjoy Financial Reckoning Day Fallout as much as the New Empire of Debt.

I would, however, recommend this book to those who want a deep understanding of the current state of the economy.

The highlights in this book are the following:

- the reason why fiat money is a flop
- the influence of demographics, such as the Baby Boomers, on the economy
- the ongoing Japanese recession
- the history of Alan Greenspan.