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


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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: 0.3 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: #1,289,428 in Books (See Top 100 in Books)

Customer Reviews

3.2 out of 5 stars
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Most Helpful Customer Reviews

8 of 10 people found the following review helpful By Fritz R. Ward TOP 1000 REVIEWERVINE VOICE on December 14, 2011
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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3 of 3 people found the following review helpful By Bernard Chapin on April 11, 2012
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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Format: Paperback
So does the fact that these predictions completely failed give anyone pause to wonder if the author and his concepts are always this wrong. It's easy to tell from the title and from reading the book that the thrust of this is an attack on Obama and fair taxes on the rich so the facts must not matter. Nowhere does Peter admit that after the last Republican Great Depression of 1929, the top tax rates where over 90% and the economy did better than ever. He also fails to include facts that even when our top tax rates were 74% our economy was doing better than this. Now our top tax rates are in the 30s and most of the top income get almost zero tax paid.

From these facts, Peter says that increasing our tax rates on billionaires is going to cause a crash. Do you follow that logic? If we go back to doing things the way we did it when the country was doing its best, it'll be bad.

More than all this, though, one has to wonder why anyone continues to read and believe the reviews with five stars for predictions and biases that fail so regularly.
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