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The Real Crash: America's Coming Bankruptcy---How to Save Yourself and Your Country [Kindle Edition]

Peter Schiff
4.2 out of 5 stars  See all reviews (486 customer reviews)

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Book Description

For over 30% new material including many startling developments that have occurred in the past few years, check out The Real Crash Fully Revised and Updated Edition, on sale now.

You might be thinking everything’s okay: the stock market is on the rise, jobs are growing, the worst of it is over.

You’d be wrong.

In The Real Crash, New York Times bestselling author Peter D. Schiff argues that America is enjoying a government-inflated bubble, one that reality will explode . . . with disastrous consequences for the economy and for each of us. Schiff demonstrates how the infusion of billions of dollars of stimulus money has only dug a deeper hole: the United States government simply spends too much and does not collect enough money to pay its debts, and in the end, Americans from all walks of life will face a crushing consequence.

We’re in hock to China, we can’t afford the homes we own, and the entire premise of our currency---backed by the full faith and credit of the United States---is false. Our system is broken, Schiff says, and there are only two paths forward.  The one we’re on now leads to a currency and sovereign debt crisis that will utterly destroy our economy and impoverish the vast majority of our citizens.  

However, if we change course, the road ahead will be a bit rockier at first, but the final destination will be far more appealing.  If we want to avoid complete collapse, we must drastically reduce government spending---eliminate entire agencies, end costly foreign military escapades and focus only on national defense---and stop student loan or mortgage interest deductions, as well as drug wars and bank-and-business bailouts. We must also do what no politician or pundit has proposed: America should declare bankruptcy, restructure its debts, and reform our system from the ground up.

Persuasively argued and provocative, The Real Crash explains how we got into this mess, how we might get out of it, and what happens if we don’t. And, with wisdom born from having predicted the Crash of 2008, Peter Schiff explains how to protect yourself, your family, your money, and your country against what he predicts.

 


Editorial Reviews

Review

"Peter Schiff sounded the alarm about the housing bubble created by the Federal Reserve and predicted the bubble's inevitable collapse, yet he was ignored by mainstream economists and ridiculed by the media.  In The Real Crash he is at it again, illustrating how the financial crisis of 2008 is nothing compared to what is coming down the road. Peter Schiff is right again. I hope more people listen this time." – Ron Paul; Congressman (TX-14) and three time Presidential Candidate

 

"Peter Schiff's new book "The Real Crash; America's Coming Bankruptcy" is written in the same blunt and punchy style that makes him a favorite guest on my Fox News show.  It's not just what he says, but the fact that he lives what he says. Unlike Some authors who talk about business as spectators, Peter doesn't speak from the ivory tower of academia or from the comfort of an anchor chair. He runs a real business and fights every day to make it a success in spite of all the government's tax and regulatory policies."-- Mike Huckabee; Host of The Huckabee Show and former Arkansas Governor and Presidential Candidate

 

"America's political leaders should have taken Peter's 2007 book, Crash Proof, to heart before they tried to borrow, print and bail us out of trouble.  Today, they -- along with all Americans -- absolutely must take heed of The Real Crash. Peter Schiff understands the marketplace, and he understands the consequences that occur when government attempts to manage that marketplace.  Pay attention, America!”-- Gary Johnson, Former governor of New Mexico and presidential candidate

 

“In ‘The Real Crash,’ the fearless Peter Schiff has written the most compelling argument against central economic planning and debt-financed consumption to come along since our present woes were exacerbated in 2008. His explanations of how unfettered free choices will produce prosperity, and how ending the Federal Reserve, abolishing the IRS, and returning to the gold standard will tame the federal beast are among the most forceful and cogent I have seen. He even explains how anyone can prosper from government stupidity in these perilous times. And he does all this in a breezy and readable format.”-- Judge Andrew P. Napolitano, Senior Judicial Analyst, Fox News

 

“Peter Schiff is an original thinker, a man of startling insight and honesty, in many ways, a genius. I have learned that you disagree with him at your peril. He is one of the few men of finance of whom I wish I could say I had paid more attention to. Live and learn. Read and learn.”-- Ben Stein; author, actor, political and economic commentator

 

"Peter Schiff says the Fed's bubble machine is destroying the American economy and he is right. Zero interest rates and QE are crushing savers, rewarding speculators and enabling the Washington politicians to issue endless debt.  Every concerned citizen should read this."-- David Stockman; Former OMB director under President Ronald Reagan

 

“Peter Schiff has been painfully right about the downward spiral of the U.S. economy over the last four years. Easy money, rising tax rates, and unbridled debt are a prescription for economic disaster. Let's hope Barack Obama reads this.”-- Stephen Moore, Economist and Fox News commentator

 

“While many of us have justifiably focused on how high taxes are economically corrosive, Peter Schiff does a great job of explaining why government spending and debt are even worse.   As we continue grappling with the monster of a runaway federal government, this book is one of the best assets conservatives can turn to in making the case for fiscal responsibility and capitalism.” --  Grover Glenn Norquist; President of Americans for Tax Reform

“Peter Schiff was one of the few pundits who predicted correctly the 2008 economic and financial collapse.  Now, he makes a compelling case in a highly readable book that the day will come when the world stops trusting the dollar and the ability of the US government to pay its debts. I agree with him that “Then we’ll get the real crash.”-- Marc Faber; Editor, The Gloom Boom & Doom Report

 

“You need to know his case whether he is right or not if you are going to be prepared for this decade.”-- Jim Rogers; Investor and Bestselling Author of “A Gift to My Children” and “Investment Biker”

About the Author

PETER D. SCHIFF is an American investment broker, author, and financial commentator, and was a candidate in the 2010 Republican primary for the United States Senate seat from Connecticut. He frequently appears as a guest on CNBC and Fox News, and is the host of the radio show and podcast The Peter Schiff Show.He is the author of the New York Times bestselling Crash Proof and Crash Proof 2.0, as well as The Little Book of Bull Moves in Bear Markets, which was also a Business Week bestseller.

 

Product Details

  • File Size: 616 KB
  • Print Length: 350 pages
  • Page Numbers Source ISBN: 1250004470
  • Publisher: St. Martin's Press; Revised and Updated edition (May 22, 2012)
  • Language: English
  • ASIN: B006JJPBGE
  • Text-to-Speech: Enabled
  • X-Ray:
  • Lending: Not Enabled
  • Amazon Best Sellers Rank: #153,147 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Most Helpful Customer Reviews
322 of 349 people found the following review helpful
5.0 out of 5 stars A Brief Summary and Review May 27, 2012
Format:Hardcover|Verified Purchase
*A full summary of this book is available here: An Executive Summary of Peter Schiff's 'The Real Crash': 'America's Coming Bankruptcy--How to Save Yourself and... (Paperback) - Common

The main argument: Since the housing and financial crash of 2008, America's recovery has been tepid at best. Unemployment has remained high; manufacturing has not returned; personal savings are as low as they've ever been, and personal debt as high; housing is still a mess, and banking not much better; and, to top it all off, government debt is awe-inspiring and seems completely insoluble. According to financial investor, commentator and author Peter Schiff, while all of this is certainly disheartening, it should not come as much of a surprise. Indeed, Schiff argues that all of this economic slumping is a natural result of America's misguided economic policies; including especially the Federal Reserve's manipulation of interest rates, the government's uncontrollable borrowing, and, in connection with this, the maintaining (and even expansion) of unsustainable social programs . For Schiff, these same policies led directly to the crash of '08 (which he correctly and very famously predicted), and are leading the U.S. directly into an even worse crash now. In his new book `The Real Crash: America's Coming Bankruptcy--how to Save Yourself and Your Country' Schiff outlines how America got itself into this mess in the first place, what the end game is likely to be, and what the nation and its citizens should do to make the coming unpleasantness the least unpleasant as possible.

The main problem--and where most of the other problems begin--according to Schiff, is the Fed's manipulation of interest rates.
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612 of 695 people found the following review helpful
2.0 out of 5 stars Disappointed May 25, 2012
By Bruno
Format:Hardcover
This book may be useful to someone who has not read Schiff's other books, or who does not listen to his TV appearances or his own radio show. However, I was immensely disappointed to find out that this book is not very helpful in any practical sense.

The reason for that is that there is a single chapter (out of 28!) where he discusses how to protect your wealth from this new crash, and even that is pretty generic.

Mostly the book is his political beliefs in why we need restructuring of our money and system. I agree with most of that. However, I have read the majority of this before in not just one, but THREE other Schiff books! It's a rehash for cash, apparently, timed to take advantage of the economy and markets souring this summer.

Anyone who listens to his web radio program has already heard virtually all of this. But the title and subtitle are very misleading. It is not mostly about the crash, and it is virtually not at all about "how to save yourself", other than the suggestion perhaps to vote for Ron Paul or others like him.

Peter has already won many over. For the vast majority of readers they fit that description, making the book fairly pointless. Unfortunately he is less interested in nuts/bolts investing advice these days than the politics surrounding the issue.

Not a worthless purchase, but for me it was a big disappointment.
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28 of 31 people found the following review helpful
Format:Hardcover|Verified Purchase
Dear potential reader,
I have always "appreciated" Peter Schiff for standing up to the talking heads on CNBC and the media in general. He WAS right about the first go around in 2008. Unfortunately, there is NOTHING in this book of any real value. It’s one of those; take advantage of the “cred” from the first success to make more money for yourself. I guess I would do the same if I were in his shoes although I really thought he was different than the rest of the Wall Street brats. This book is really just a set up to get you to call his investment firm to handle your money; pure and simple. Don’t waste your money; nothing new or eye opening. Anyone saying such has obviously had their head in the sand for the past 5 years. To say I’m completely disappointed in Peter Schiff is a mild understatement. I would really like to get my money back as I also bought his first book, but he earned it the first time around; not this time. I want my money back.
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118 of 143 people found the following review helpful
5.0 out of 5 stars Fantastic and Productive! May 23, 2012
Format:Hardcover|Verified Purchase
I've completed reading The Real Crash and am WOW'd. This book gives some brief background as to how the U.S. got into this financial mess (for much more historic detail check out Crash Proof by Schiff), but most importantly, Peter hits on all of the major financial issues that exist in our country today, and he offers the simplistic suggestions for reform to fix our path. From education to health care, Peter writes in his easy to understand, and analogy-packed style, about how we can alter this destructive path we are on. In his usual honesty, Peter admits there is no win win here, but we can certainly guide ourselves towards a softer landing with a quicker, healthier recovery. I suggest this book for anyone that wants to learn about economics in general, or wants to learn about the real causes and effects behind present and past goverment policies.
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175 of 215 people found the following review helpful
5.0 out of 5 stars You can lead a horse to water..... May 22, 2012
Format:Hardcover
I came across this book just as I finished reading Paul Krugman's latest offering - End This Depression Now. It is clear that Krugman does't understand what money is and wouldn't dream of considering that the Federal Reserve IS the problem. Luckily for us Schiff does, providing us with simple common sense solutions based on sound economics. The solutions are indeed nasty but the alternative is frightening to imagine. Economics in One Lesson by Henry Hazlitt tells us that Politicians will always think short-term whilst wearing blinkers to the big picture so we can conclude that Schiff's advice will be ignored. Protect yourself accordingly.
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Most Recent Customer Reviews
4.0 out of 5 stars This man knows his stuff.
Do you want to understand what is going on economically and what is about to happen? Read this book. Peter Schiff has been right all along.
Published 2 days ago by Amazon Customer
4.0 out of 5 stars Interesting ideas about the coming economic environment in the U.S.
If you are worried about your position in the market or perhaps what to do with your home and family, this is an interesting book to read. Read more
Published 4 days ago by jean h.
2.0 out of 5 stars Two Stars
not much of a read. buy something else.
Published 6 days ago by StanfromAK
4.0 out of 5 stars Presents Peter Schiff's take on our current economic environment...
Scary. Presents Peter Schiff's take on our current economic environment (which isn't pretty) and how he would recommend investing to weather a future economic cataclysm. Read more
Published 13 days ago by sdgolf
4.0 out of 5 stars Excellent & vitally important, but not perfect
Excellent book with great, real life examples showing how government programs typically accomplish the exact opposite of their stated goal, hurting those most whom they're supposed... Read more
Published 16 days ago by Harold Kyriazi
4.0 out of 5 stars Nothing new but informative for the less informed
In this book Peter Schiff does a great job of trying to show how we can fix an unfixable system.Unfortunately there is little as individuals we can do. Read more
Published 20 days ago by James Pochedly
5.0 out of 5 stars Five Stars
Satisfied
Published 23 days ago by David H Clippert
5.0 out of 5 stars Inevitable
Prompt delivery and in good condition. This book is a good read. I'm sure many people in the current climate will not want to accept much of what Mr. Read more
Published 29 days ago by Robert Mecham
5.0 out of 5 stars Has not happened yet?
Has not happened yet?
Published 1 month ago by Cypress
5.0 out of 5 stars A great book, very in depth yet a easy to ...
Once again Peter is right! A great book, very in depth yet a easy to read. This makes sense, everyone should give this a read and think bout preparing your life for what appears... Read more
Published 1 month ago by STEPHANIE SPIELMANN
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More About the Author

Peter D. Schiff is a seasoned Wall Street prognosticator best known for his accurate predictions of the performance of the stock market, commodities, gold, and the dollar. He is one of the few unbiased investment advisors to have predicted the current bear market and positioned his clients accordingly. Schiff began his career at Shearson Lehman and joined Euro Pacific Capital in 1996, becoming President of the firm in 2000. He appears frequently on Fox Business News, CNN, CNBC, and Bloomberg TV, and has been quoted in such publications as the Wall Street Journal, Barron's, the Financial Times, and the New York Times. Schiff is also the author of the original edition of Crash Proof as well as The Little Book of Bull Moves in Bear Markets, both published by Wiley.

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