When Giants Fall: An Economic Roadmap for the End of the American Era [Hardcover]

Michael J. Panzner (Author)

Book Description

Publication Date: February 9, 2009 | ISBN-10: 047031043X | ISBN-13: 978-0470310434 | Edition: 1

In When Giants Fall, Panzner makes his case for the turbulent economic changes that will be occurring over the next few years and examines the resulting economic opportunities.

According to Panzner, the economic changes will be widespread. Businesses will struggle amid wars, shortages, logistical disruptions, and a breakdown of the established monetary order. Individuals will be forced to rethink livelihoods, lifestyles, living arrangements, and locales. Political structures will be in flux, as local leaders gain influence at the expense of national authorities. For many people, it will be nothing short of a modern Dark Ages, where each day brings fresh anxieties, unfamiliar risks, and a sense of foreboding.

However, for those enlightened few who understand what is really going on and what happens next, the chaotic years ahead represent the opportunity of a lifetime - a time when they can realize goals they never thought possible and achieve a level of wealth, security, and inner peace that will leave them head-and-shoulders above everyone else. In this book, Panzner offers cutting-edge insights and strategies that will enable readers to stay well ahead of the game during the uniquely unsettling period ahead.

Editorial Reviews

From Booklist

Panzner is a 25-year veteran of the global stock, bond, and currency markets and has worked for leading financial companies such as HSBC and JPMorgan Chase. He sees the current financial crisis as a watershed event in our nation’s history that will lead to unprecedented, possibly devastating changes in our economy and lifestyle. Just as other empires have done in the past, he asserts, we have stretched ourselves too thin both militarily and economically, and we are rapidly running out of the resources and global goodwill that will sustain our dominance. Our massive national deficit means we are at the mercy of foreign interests such as China, which holds a large proportion of our bonds, while enormous government bailout and “stimulus” spending programs create black holes of debt that threaten to create hyperinflation. Thankfully, Panzner lays out a road map to navigate these turbulent waters, and he argues convincingly that following his plan will help individuals to maintain wealth and security during the troubled times ahead. Recommended for all those trying to make sense of the economy. --David Siegfried

From the Inside Flap

Once the embodiment of prosperity, the United States now finds itself in a precarious position. With its financial system in shambles and global standing on the wane, many believe we are witnessing the end of the American era. In When Giants Fall, author Michael Panzner puts the coming age of post-American dominance in perspective, and addresses the far-reaching effects it will have on our lives, as well as the economic opportunities that will arise from it.

With this timely guide, Panzner describes how widespread economic changes—the product of growing conflict and wars, shortages, logistical disruptions, and a breakdown of the established political and monetary order—will impact businesses as well as investors, and discusses why individuals will be forced to rethink livelihoods, lifestyles, and living arrangements. He makes the case that for many people this will be nothing short of a modern Dark Ages, where each day brings fresh anxieties, unfamiliar risks, and a sense of foreboding.

However, for those enlightened few who understand what is really going on and what will likely happen next, the chaotic years ahead may well represent a singular opportunity—a time when you can realize goals you never thought possible and achieve a level of wealth and security that leaves you head-and-shoulders above everyone else. But to do this, you will have to understand how things got to where they are today and, more importantly, how they will play out in the future. When Giants Fall answers these and many other essential questions. From an examination of key economic, political, geopolitical, and social issues to the realities of earning a living, protecting and preserving wealth, running a business, and looking after loved ones, this practical guide provides a straightforward and comprehensive game plan for surviving—and thriving—in the uniquely unsettling years ahead.

The road ahead will be fraught with challenges that will be impossible for anyone to ignore or avoid—regardless of their current circumstances. But if you understand what's going on, set out a viable plan, and remain focused, you can get through these troubled times unscathed. Engaging and informative, When Giants Fall offers cutting-edge strategies and much-needed direction that will allow you to achieve financial security and stability in an increasingly uncertain and dangerous world.

See all Editorial Reviews

Product Details

• Hardcover: 288 pages
• Publisher: Wiley; 1 edition (February 9, 2009)
• Language: English
• ISBN-10: 047031043X
• ISBN-13: 978-0470310434
• Product Dimensions: 6.5 x 1 x 9 inches
• Shipping Weight: 1.1 pounds (View shipping rates and policies)
• Average Customer Review: 3.2 out of 5 stars  See all reviews (26 customer reviews)
• Amazon Best Sellers Rank: #859,826 in Books (See Top 100 in Books)

More About the Author

Michael J. Panzner is president of Panzner Associates LLC, publisher of Panzner Insights (http:www/panznerinsights.com), a members-only website focusing on markets, economics, and geopolitics.

He is a 30-year veteran of the global stock, bond, and currency markets who has worked in New York and London for such leading companies as HSBC, Soros Funds, ABN Amro, Dresdner Bank, and J.P. Morgan Chase.

Panzner is the author of When Giants Fall: An Economic Roadmap for the End of the American Era, Financial Armageddon: Protecting Your Future from Four Impending Catastrophes, and The New Laws of the Stock Market Jungle: An Insider's Guide to Successful Investing in a Changing World, and has also been a columnist at TheStreet.com's RealMoney paid-subscription service and a contributor to AOL's BloggingStocks.com.

Panzner has appeared on or been quoted by CNBC, Bloomberg, The Wall Street Journal, USA Today, Barron's, Reuters, CNN, MarketWatch, BusinessWeek Online, TheStreet.com, Slate, CFO.com, and other print, radio and television outlets. His articles have appeared in Buyside, Stocks, Futures & Options, Management Review, and Business Credit.

He is a New York Institute of Finance faculty member specializing in Equities, Trading, Global Capital Markets and Technical Analysis and is a graduate of Columbia University.

Most Helpful Customer Reviews

116 of 129 people found the following review helpful

2.0 out of 5 stars Prepare for a Modern Dark Ages February 5, 2009

By Befragt VINE™ VOICE

Format:Hardcover|Amazon Verified Purchase

The gist of this book is that the US is suffering from declining respect and financial and military strength, and that the world is beginning to suffer from overdue Malthusian shortages of critical resources. Because the US is in decline, the consequence will be international chaos as various actors (state and non-state, such as terrorists and international corporations) step into the void and inevitably begin to collide with the US and one another. The result of this will be global shortages of food, water and energy, increased protectionism, military conflagration, increased income disparity, and any other number of woes.

To support the inevitability of this dire future, Panzer cites Malthus, Paul Kennedy's book "The Rise and Fall of Great Powers," various fairly current news accounts, and less frequently, historic events. However, his rather strident argument of inevitable decline and collapse appears conclusory at best, and a critic might argue that the book itself represents a cynical attempt to capitalize upon the prevalent dour sentiments concerning the economy and America's position in the world.

Moreover, at times the tone of the book risks falling into condescending tongue clucking of the elite who, of course, saw this coming and are shocked, shocked, that we could ever allow this to happen. Take this quote from page 9, drawing parallels between the US and Rome as it was collapsing: "Instead of bread lines and circuses, we have NASCAR, video games and reality TV." 45 years ago, many Americans may have told you how the US was collapsing because of its softness in the face of communism, the Beatles, etc.

On the plus side, Panzner is well read, and he recounts a string of recent and several more remote historical events in great detail. My issue is not that he cites Malthus and Kennedy - it's that he comes up with quite specific predictions based upon a smattering of self-selected news and historical accounts. While the dire future he predicts may come into being, I'm not sure I agree that it WILL come to pass.

A second issue I take with this book is that it promises "cutting edge strategies and much needed direction that will allow you to achieve financial security and stability in an increasingly uncertain and dangerous world." I guess I missed this section other than some advice to invest in commodity producers. Moreover, given that the book essentially predicts a real-live "Road Warrior" world, I am skeptical whether any book could provide such "cutting edge" strategies, unless you consider building a bomb shelter and preparing for a survivalist future to be worthwhile.

On the plus side, the book is a fairly easy read, and the author has clearly spent much time combing the news media for information that appears to support his conclusions. Anyone wishing for a refresher about various international mishaps, primarily of the US, will find this book enjoyable.

Personally, I prefer Paul Kennedy's book "The Rise and Fall of Great Powers," which is truly a landmark book about the dangers of imperial over-reach. Another interesting, although not necessarily persuasive, read is Dent's "The Great Depression Ahead," which is distinguishable from "When Giants Fall" by its narrow focus upon demographics and provision of a bit more tangible financial planning advice.

In summary, I can't say that Panzner is wrong - his projections for the future might well be right. That being said, his book purports to predict the future with a certainty that does not appear supported by the data provided (keep in mind that the actual text of this book is slightly less than 190 pages, exclusive of the extensive bibliography). It is possible that Panzner sought to keep the book "readable," and hence cut down on the detail, but in this regard, I would have preferred to have more information supporting Panzner's conclusions, and some more hints about how to survive the collapse we are supposedly about to face.

44 of 50 people found the following review helpful

5.0 out of 5 stars A Powerful Eye-Opener February 9, 2009

By Careful investor

Format:Hardcover

In Financial Armageddon, Panzner detailed a frightening but, as it turns out, prescient vision of a nation in the throes of an economic cancer. In his latest book, he expands on that earlier theme and writes about, among other things, how the world will change as the disease progresses through the terminal phase. The book covers a lot of ground, including oil, water, and food-related concerns, the future of NAFTA and the European Union, the potential for social unrest and world war, and what to own in world gone mad (hint: its the shiny stuff). It's probably not the sort of book that you crack open on a rainy Sunday afternoon, but once you get started, it's a powerful eye-opener that's hard to put down.

27 of 30 people found the following review helpful

5.0 out of 5 stars A prophet has no honor in his own country... February 16, 2009

By LJ Kelly

Format:Hardcover

This follow up to Panzer's earlier book Financial Armageddon is exhaustively researched, well written and very sobering. When Giants Fall can really be described as one book in three parts. In the first, Panzer lays the historical basis for the unraveling of the American empire - the missteps that led our nation down the same past as many previous world powers.

The second phase of the book is a very well thought out hypothesis of what America and the world, will be facing next. The reader will dismiss Panzer's forecast of coming events at their own peril. Those who have read Financial Armageddon will know already that Panzer is among the very few (including Peter Schiff) who had predicted our current events well before they had come to pass.

The final part of the book is the bibliography. Granted, few people ever spend much time reading any bibliography, especially one that is over fifty pages long. I point this out only to emphasize the exhaustive research Panzer performed in writing this. While no one can predict the future, it is possible to make logical assumptions as to what the future may hold based on past events and current data. If past is prologue, we are in for quite a bumpy ride