From Publishers Weekly
Dent, former strategic consultant at Bain & Company, outlines the features of what he predicts will be the next Great Depression. The author argues that demographic trends were the greatest drivers of our economy, along with radical new technologies, working together to follow a four-stage life cycle of innovation, growth, shakeout, and maturity. While Dent's doomsday predictions are depressing, his theories are persuasive and elaborated in meticulous descriptions of historic economic trends and cycles. The author's candor is refreshing, especially when he discusses how equity investments experience a wide variety of returns, including substantial losses or extraordinary gains—and that the financial press has failed to remind the public of this fact. The book offers welcome portfolio allocation strategies during an economic crisis, as well as the bad news that the worst of the housing downturn will occur between 2010 and 2013. Along with domestic forecasts, Dent addresses terrorism's economic roots and the growth of megacities in South and East Asia with characteristic thoroughness. (Jan.)
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Dent, author and consultant, predicts the economy is moving toward a major depression, with the deflation of bubbles in stocks, real estate, and commodities between mid- to late 2009 and mid- to late 2012, and it could last for a decade or more. Rather than offering only a gloomy outlook, Dent presents a road map for the difficult times ahead, suggesting cash and money-market investments initially and then highest quality U.S. Treasury, municipal, and corporate bonds and that same quality of bonds in stable Asian and European economies. When assets eventually fall in value, there will be unprecedented buying opportunities for those who are “lean and mean.” Theories and forecasts abound in the financial turmoil facing the U.S. and global markets in late 2008, and everyone may not agree with Dent. However, he makes a compelling case for his predictions and this is an excellent book to challenge a broad range of library patrons. --Mary Whaley