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Obama and the Crash of 2013 (Encounter Broadsides) Paperback – November 15, 2011

3.2 out of 5 stars 6 customer reviews

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Product Details

  • Series: Encounter Broadsides (Book 25)
  • Paperback: 48 pages
  • Publisher: Encounter Books (November 15, 2011)
  • Language: English
  • ISBN-10: 1594036241
  • ISBN-13: 978-1594036248
  • Product Dimensions: 0.2 x 4.8 x 7 inches
  • Shipping Weight: 2.4 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: #1,971,838 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Paperback Verified Purchase
Peter Ferrara is worried about the future, specifically the immediate future. After the 2012 elections, he fears that America, which has never really recovered from our last recession, will experience another, even sharper, economic decline. Ferrara offers three reasons to expect an economic collapse in 2013. First, taxes are going up, especially on the highest earners. Most people assume that the "rich" can afford more taxes and indeed, many can. But the uber wealthy are not the people who will be paying. The reality is that those making over $250,000 a year are often small business owners, the historic leaders in job creation for the country. The truly wealthy (multi millionaires) do not have "income" as such, and their assets are held in forms that produce little in the way of income or taxes. So it will be small business owners who bear the brunt of the tax increases, and they truly cannot afford it, at least not if they plan to expand their hiring. But taxes are only one part of the equation. 2013 will also see a dramatic increase in regulatory costs. Already the typical American taxpayer loses over $8000 a year in value just to regulation, but with Obamacare and new EPA regulations designed to stop global warming, these costs will skyrocket. Finally, the Federal Reserve is currently keeping interest rates artificially low to mask the deleterious effects of our current Keynesian policies on the economy. But in 2013, Ferrara predicts, the Fed will be forced to raise interest rates to prevent massive inflation. Already, actual inflation on consumer prices is over 8% and could easily go higher.

Ferrara paints a very bleak picture indeed, but one has to ask how accurate his predictions are. In some instances, this reviewer thinks Ferrara is overstating the case.
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13 Comments 8 of 11 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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Format: Paperback
It's Jan 2014 and the S&P 500 rallied 30% in 2013?

Seriously you're reasoning was fine but get your end points right
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Format: Paperback
Length: 7:16 Mins
Peter Ferrara's a great writer. I enjoyed very much his America's Ticking Bankruptcy Bomb so I was excited about reading the Crash. This slim work does not disappoint.
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