From the Inside Flap
In 2004, Warren Brussee wrote, "Come 2008, the number of people giving up on making house payments will skyrocket . . . banks will be forced to foreclose on homes and sell them, causing a glut of homes on the market and a deflation of home values. . . . You will be able to get a great deal on a used SUV, especially a Hummer!"
These are just some of the author's gloomy, but accurate predictions that have come to be part of today's economic reality. But, says Brussee, the worst is yet to come: the problems are so severe that it will take until 2013 before the economy bottoms out and begins to grow. In the meantime, the stock market will drop dramatically, unemployment will be over 15%, and our country will be humbled as it is forced to adapt to a far lower and simpler standard of living. In The Great Depression of Debt, Brussee offers a detailed economic analysis of the difficult years ahead, telling what to expect and how to survive the next great depression.
The author clearly lays out the circumstances that have led to this situationthe craziness in the nineties' stock market that encouraged people to stop saving and start speculating, consumers who began spending more than they could afford, as well as other factorsand outlines the similarities between current times and the years just prior to the First Great Depression. Brussee explains in detail what individuals must do to get through it: keep a job, limit debts and return to saving, and stay away from the stock market until it hits bottom. The author also reveals how the country will emerge from its economic troubles, telling how effective job creation in alternative energy, electric cars, and the required infrastructure will be key, along with training for related skills.
The twenty-first-century Great Depression has al-ready begun. It is a harsh reality we all must face. But this book will show you how to survive these turbulent times and profit in its aftermath.
From the Back Cover
Praise for The Great Depression of Debt
"This is a book that anyone???young, old, or anywhere in between???should read and study. It is superbly researched and thoughtfully written. The first half of the book is a window into the future, and the second half is an outstanding guideline for facing that future. This is the most important book I have read."
???Christopher Welker, General Manager, Technology, for a Fortune 100 Company
The Twenty-First-Century Great Depression
The continuing high rate of foreclosures, along with excess housing inventory from the overbuilding of the past decade, uncertainty in the credit markets, higher unemployment, and a weak dollar all point to an extended period of depression in the United States.
In The Great Depression of Debt, Warren Brussee examines the history of bubbles through the twentieth century and offers solid evidence to show why he believes the current depression could continue well through 2020. The author tells why the good times have ended and shows the frightening parallels between current times and the Great Depression.
Brussee explains, however, how those positioned to handle dramatic shifts in consumer spending, the mortgage industry, and the stock market are at a great advantage. He offers key insights into the coming economic turbulence and outlines steps to prepare for it, providing practical advice on how to survive the depression, where retirees should be putting their money, when to get back into the market, and what to invest in once you are back in.