Customer Review

4.0 out of 5 stars Worth it for the first section, June 9, 2011
This review is from: The Great Reflation: How Investors Can Profit From the New World of Money (Hardcover)
This book gives a great overview and explanation of how we got into the current predicament. I find the author's long wave idea very compelling as I am a believer in cycles. The author believes that the long down wave was interrupted in the early 1970s by loose monetary policy and is only now reasserting itself. Personally, I believe the author understates the seriousness of the current investment climate and economic situation, though he did a good job of identifying all the problems. Overall, unlike some books out there, he does not turn his book into a forum for proclaiming his personal political views, though he called the Bush years disastrous and Palin a celebration of stupidity and ignorance. But it's hard to argue about those views. Plenty of conservatives and libertarians would agree with him. If the book was disappointing in any way, it was in the section dealing with how to invest, part of the promise of the book's subtitle. In addition, while the author did provide some very interesting data on precious metals and commodities as investments over the very long term (they're not as good as you might think), we are in a climate now where, I believe, precious metals should comprise a significant portion of your portfolio. When the dollar loses its reserve currency status and hyperinflation rears its ugly head, precious metals will be one of the only means of preserving your wealth. Of course, there will come a time when you'll want to sell your metals (like when those kiosks in the mall or TV ads say "We sell gold and silver" instead of "We buy"), now is the time to accumulate them.

But if you're looking for a good understanding of how we got to where we are and the ramifications of current policies, this is a good book.
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Location: North Canton, Ohio

Top Reviewer Ranking: 35,624