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The New Depression: The Breakdown of the Paper Money Economy
The New Depression: The Breakdown of the Paper Money Economy
by Richard Duncan
Edition: Hardcover
Price: $22.19
55 used & new from $14.12

48 of 65 people found the following review helpful
2.0 out of 5 stars Right diagnosis, wrong prescription, April 17, 2012
He gets it right on what is wrong and why. Then he presents a solution of even MORE big government borrowing and "investment" in boondoggle projects like solar energy. Enough has happened in the news recently to show the folly of trusting politicians to innovate.

He can't admit that the only real solution is to take our lumps, restructure the economy, end globalism, and endure a short sharp depression. Had we done this 5 years ago we'd be out of it by now. The reason smart people like the author object to this is that their incomes zero out during this period of economic disruption. The investment class wants the status quo to be preserved, with slow change. We simply don't have that kind of time and the government is the last entity to trust to fix things.

His prescription is, unfortunately, malpractice.
Comment Comments (11) | Permalink | Most recent comment: Jan 10, 2014 11:20 AM PST

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