- Paperback: 276 pages
- Publisher: AVA Publishing (January 21, 2008)
- Language: English
- ISBN-10: 0975577670
- ISBN-13: 978-0975577677
- Product Dimensions: 6 x 0.6 x 9 inches
- Shipping Weight: 13.6 ounces (View shipping rates and policies)
- Average Customer Review: 15 customer reviews
- Amazon Best Sellers Rank: #1,972,049 in Books (See Top 100 in Books)
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America's Financial Apocalypse: How to Profit from the Next Great Depression (Condensed Edition)
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In 2006, after reading a draft of America s Financial Apocalypse, a prominent fund manager told Mr. Stathis (under the condition of anonymity) YOU WILL BE A STAR AND IN HIGH DEMAND ! This senior executive promptly ordered several dozen copies for other fund managers at this large investment house. Despite the fact that Stathis contacted hundreds of TV shows over a 2-year period, they all refused to interview him. He contacted every show on CNBC (Cramer, Kudlow, Fast Money, etc.). He contacted Cavuto on FOX, the news shows on CBS, ABC, NBC, CNN, PBS and BET with no response. They all have his book Cramer, Kudlow, Cavuto, Lou Dobbs, journalists at 60 Minutes and virtually everyone else you can imagine. He personally handed Pete Najarian from Fast Money his book. Ask yourself why they are keeping this critical material from you. They have all failed you. How can you ever trust them again? You see who they have selected to interview liars, fools, crooks and marketing gurus all with miserable track records; all looking to take your money in some way. America s largest media networks are politically motivated, so they continue to air lies and misinformation that has caused everyone to loss trillions of dollars. But they are also financially motivated so they don t want to upset the companies who pay for advertisements - Wall Street firms and the mutual fund industry. Stathis could have saved people from much of these losses. But the media refused to let him speak. Censorship is alive and well in America but you will never know it if you rely on the mainstream media because you won t know what they aren t telling you. They shut the truth out to protect their agendas. Stathis even offered to give a presentation to a Schwab Active Trader event during the Bear Stearns crisis when no one had a clue how bad things were. Schwab was interested - until they read his book. This fund manager did not realize that Stathis prognosis for America would be counterproductive for network ad revenues. The financial industry would be devastated by his analysis. At the same time, they realized no one who could successfully counter his arguments so they refused to air his insights because America s media industry is not interested in airing the truth until it is too late. The media serves their sponsors corporate America (including the financial industry) because they pay the bills. Stathis is no perma-bear and he has no financial agendas. Unlike others he is not trying to get you to buy gold from him or invest with him. Thus, his analysis is pure. His only agenda is to help you protect yourself from Wall Street crooks and Washington irresponsibility. Despite the controversial nature of his book, much has already come true. But there is much more to come as the book describes. Apparently, many investors didn t learn their lesson from the dotcom collapse. But Stathis did. And when he saw an even bigger collapse on the horizon, he spent 2 years of his life writing America s Financial Apocalypse to help investors. As the only expert who wrote a comprehensive analysis of America s problems prior to the collapse, it is clear that Stathis stands as the person who best understands what the future will hold and what the solutions are. This book proves he is the world s leading expert on this crisis hands down. After reading it, you will understand America far better than anyone in Washington and anyone on TV, including the so-called experts. That is a guarantee. If you haven t figured it out by now, you are on your own when it comes to your investments. And if you keep listening to the mainstream media, the same scams will continue to devastate you. You would be best to listen carefully at what Stathis has to say. Because he is the ONLY real expert who is on your side. --Confidential
About the Author
Mr. Stathis applies his as a consultant to early-stage companies, venture capital and private equity firms. He also provides public market consultation to hedge funds needing assistance with valuation, risk management and market timing. Mr. Stathis previously worked at two of Wall Street s largest firms, focusing on asset management and merchant banking. Prior to his career in finance, he was involved in several research projects in energy and the life sciences. The accuracy, depth and timing of this book have positioned him as one of America's leading investment authorities.
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Stathis did correctly identify the main culprits of our bubble economy being excessive debt, excessive speculation, low savings rate, high trade deficits, and the collapse of America's industrial base. However, his economic predictions have been mixed. Written back in 2007, Stathis forecasted extreme inflation over subsequent two decades. He written that the dollar would drop and interest rates would go up. In actuality we had the opposite.
Stathis said in pages 195-97 that gold performs well during deflation. That's not likely correct, though we don't have much statistics because gold has only been publicly traded since 1971. We haven't had real sustained deflation since the Great Depression and back then the price of gold was fixed. In the 2008-09 recession, we had brief deflation and gold tanked 35 percent. My guess is that gold, like any other commodities will decline during deflation. Gold is an inflation hedge. In page 199, Stathis said that a depression would likely cause silver to soar past $60/oz. I wonder how he came up with that. Since silver is an industrial metal, a depression would cause industry to collapse. That was evident during the 2008-09 financial crisis when silver sank 60 percent. Stathis, though, is correct to say that cash is king during deflation.
Unlike Stathis, Robert Prechter in Conquer the Crash did predict the dollar to go up, interest rates to sink, and gold and silver to plummet. He predicted a deflationary crash and was right. Prechter's book uses better logic.
Stathis appears to be a Keynesian. He argues that corporate taxes are too low, although in actuality they are among the highest in the developed world. He supports higher taxes to fix the social security system. Stathis argues for a socialist style universal healthcare and basically says that the current government controlled bureaucracy is not enough and we need more of it to fix the system.
On page 64, “it appears as if the free trade agreements enacted by Washington are in direct opposition to the current free-market healthcare system” but is contradicted by “American's free market healthcare system has very little competition” on page 67. If it has very little competition, then it is not a free market. But then Stathis later points out that the healthcare system indeed has little competition, because of government granted protection.
With regards to the deficit on page 53, “Today, most taxpayer dollars are used just to pay the annual interest on the federal debt. Since the majority of this debt is held by foreign nations, most of your tax dollars are going overseas to pay for Washington's ridiculous spending.”
He needs to cite sources because I doubt the majority of our tax dollars is financing the interest on the federal debt.
With regards to China on page 55, “America will see how they've helped transform China into a powerful modern economy that could further the decline in US living standards.”
How? Why can't they both have high living standards?
It would be better if Stathis writes a book on media propaganda, which he has exceptional insights to, than economics.
As mentioned in other reviews there are many typos and punctuation flaws in the book that the publisher should have weeded out.
Where are the solutions to the issues? left me hanging
Needs better annotation
WHY so high a price?
The best analysis of how the Dollar is tied to OIL
Unique treatment of Social security, PEAK OIL, Health care
THE two depressive eras was thoughtful
Overall more of an academic read than Crashproof, but the premise of the book is the same...get ready for the BIG ONE.
His metronomic critisism of one political party during the entire book also led me to conclude that his economic vision was clouded by a party-specific paradigm. I found this symptomatic of the current crop of economists who find deficit spending just fine, so long as it is for their own party's agenda.
Finally, the financial advice in the last chapters of the book was also disappointing. After a long derogation of banks and financial instruments, real estate and the lack of trustworthiness therein, he recommends both!
Much better books out there- try Leeb's Oil Factor series and Game Over, Panzner's Financial Armageddon and When Giants Fall and finally McGuire's Buy Gold Now.