172 of 191 people found the following review helpful
Shocking: both book and possible future senarios
, August 30, 2011
This review is from: Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown (Hardcover)
I guess if one is online with NewsMax.com one can be offered this book for free...but get suckered into signing up for two expensive newsletters, of the authors, for which you will have to opt out if you don't want them, and just wanted their free book. So beware.
1. As a piece of writing, it is pretty convoluted and reads much like a sales direct mail piece with lots of redundancy...maybe to make it more like book length. In other words, I don't believe they had a good outline for the book in the first place, or just really don't have a grasp at teaching their own theory.
2. Some of the information gives a good lesson regarding things to research, just like we should be aware of why there is a possibility of default by our government. Although a better and quicker understanding of this is found in the videos on YouTube regarding "Money as Debt." Banks continue to create money out of "assets" which are nothing but debt to be repaid with fewer and fewer dollars. Although Aftershock says we, i.e. the Federal Reserve banks, are printing more dollars to create a "bubble," and those "dollars" are in the banks as reserve; they really are nothing more than debt as asset. The authors don't tell us this.
3. The book does show us some statistical examples, but we don't know where they come from, in order to check accuracy or credibility, and the authors analysis may or may not be correct. We do know that the country's debt will not be sustainable as it continues to grow with fewer and fewer dollars to pay the interest on that debt, and just as happened with Argentina some years ago when they stopped paying interest on their debt, and banks (Continental of Chicago) and businesses collapsed here in the states, the U.S. default on debt could create havoc in the rest of the world as well.
4. The authors are so wrapped in their "bubble" theory that they don't explain it very well, just repeating the possibility of a 'Pop.' Yes they audaciously promote their businesses,but do along the way give some a bit of a window into what may be going on and how things are interconnected economically. They say they didn't change this 2nd edition drastically other than bringing it up to date...I wish they had.
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