Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Financial Armageddon: Protecting Your Future from Four Impending Catastrophes Hardcover – March 1, 2007
The Amazon Book Review
Author interviews, book reviews, editors picks, and more. Read it now
Customers who bought this item also bought
Customers who viewed this item also viewed
"A Magnum Opus of the facts and figures of the astounding monetary and fiscal stupidities of the last decade; the incredible financial ignorance, intellectual sloth, and shameful gluttony of the public; and the despicable, pandemic corruptions that made it all possible." -- Richard Daughty, the Mogambo Guru
"An absorbing report on the gruesome inner workings of the Frankenstein Finance monster that is dragging the rest of our economy into a dark future." -- James Howard Kunstler, author, The Long Emergency
"Panzner is one of the few people I know who can deal with day-to-day Wall Street action and yet have a big picture perspective-a picture he paints in Financial Armageddon as one that should terrify us." -- Bill Cara, BillCara.com (Forbes Favorite, 2006)
"The definitive work on our economic future. Read it now or dwell on the consequences later." -- Bruce Stratton, SafeHaven.com
"Timely, accessible....Readers who follow Panzner's advice will be among the few who successfully weather the storm ahead." -- John Rubino, co-author, The Coming Collapse of the Dollar and How to Profit from It
An informative work with much food for thought and excellent advice in preparing for the coming financial storm. -- Bull Not bull!, March 5, 2007.
Financial Armageddon doesn't pull any punches....[it's] a hard-hitting exposé of what may be our future. -- Seeking Alpha on Yahoo! Finance, March 17, 2007
From the Inside Flap
When the stock market bubble burst in 2000, the collapse that followed wiped out over two-thirds of the value of the Nasdaq Index and decimated the hopes and dreams of millions of Americans.
Now, imagine not one, but four such disasters looming on the horizon, all poised to erupt in a massive economic firestorm that will wreak widespread havoc in the months and years to come.
In Financial Armageddon, Wall Street insider Michael J. Panzner identifies the most pressing financial risks we face today: First, a burgeoning tower of public and private debt wobbling precariously on a foundation of excess and fraud; second, a multi-trillion-dollar house of cards to which all Americans are exposed but few understand; third, a vast array of largely hidden government promises that will ultimately go unkept; and fourth, a retirement mirage that will leave millions enslaved to the workplace until the day they die.
Panzner details the devastating impact that each phase of the coming calamity will have on the lives of every American, and shows readers how to recognize, guard against, and overcome myriad threats to their wealth and personal finances. Learn:
-How an unraveling economy will affect earnings, prices, and interest rates
-When to sell, what to buy, and where to invest as the crisis unfolds
-What to watch out for in relationships with friends, employers, and others
-The social, political, and geopolitical fallout from widespread financial upheaval
Financial Armageddon offers practical advice to weather the storm, simple steps to plan ahead, and a plan to survive if the unraveling hits before you're prepared. With time running out, every American must learn of the disaster-in-the-making so they can protect themselves, their families, and their economic well-being--before it's too late.
Top customer reviews
There was a problem filtering reviews right now. Please try again later.
For example, the author accurately forecasts the doom that is befalling Fannie Mae and Freddie Mac. He accurately forecast that the market collapse would shake out a number of crooks (eg Bernie Madoff). He accurately (in my opinion) forecasts the looming pension crisis, municipal and state defaults, and other public financial crises that lie ahead. And much more. However, the way the author breezily drifts from details in one paragraph to gross generalizations in the next makes it hard to separate some of his key observations from general conjecture.
The book is organized in four main headings (Threats, Risks, Fallout and Defenses) with four chapters under each heading. That's great. However, each chapter is 10 to 30 pages of unbroken paragraphs covering a multitude of topics under that chapter heading. For example, under 'Defenses' are the four chapters Planning, Investments, Relationships and Lifestyles. In the 14 pages under 'Investments' is a sea of paragraphs covering everything from the Hunt Brothers cornering of the silver market in the 80's to municipal bond fund safety to the strategy of holding cash in the deflationary period to the strategy for buying commodities, food and the like in the hyperinflation to follow, with data points bobbing on this sea of paragraphs like driftwood. It's not difficult reading, but it's difficult to extract a coherent picture of the point the author is trying to make, or a cogent personal plan of attack for addressing the problem. In my opinion this book is crying out for many more smaller, focused chapters.
An example is his discussion starting with TIPS (U.S. Treasury Inflation Protected Securities), which he rightly points out are not a hedge for hyper-inflation because the government will simply redefine or blatantly distort the inflation numbers as it does currently with it's 'hedonistic' adjustments to those numbers. So you could buy 'inverse ETFs' that short the TIPS, but those could suffer from market 'irregularities', so you could go to cash, but hyperinflation will eat that, so consider gold, but the government could confiscate that...all in a few pages in the Investments chapter. Whoa. Reading this is like reading a flowchart full of if-else decision blocks without the nice pretty symbols.
The key to this book is probably the last 40 pages, entitled 'References and Resources', which are nothing more than hundreds of listing of web page articles and references, most from 2006, and presumably the primary sources from which the author gathered his data and conclusions. Unfortunately the author didn't cross-reference these sources to his discussions in the text, so like the rest of the book they are hard to sift through in any organized fashion. Like most of the stuff on the 'net, some of the links should be taken lightly (if at all), while others are in turn prognosticative, profound or downright scary when examined four years later.
In summary, this book will make you think hard about the 'bigger picture' of this economy, but it doesn't make it easy.
I found the first few chapters really boring but then things really picked up and held my interest to the end of the book.
Michael Panzner, the author, makes a number of reasonable predictions based upon the economic situation but I treat these as a separate section. No one knows to what extent the US governement will attempt to stop an upcoming recession/depression. There appears to be no limit...
So here I sit wondering which is going to occur first: WWIII, MegaDisaster
that we blame on Mother Nature or a world wide depression that will make 1929 and the 30s look like a walk in the part.
Sorry for being so negative but as you can see the book had an effect on me.
Excellent book for giving you an idea of how things might happen. Roving bands of mercinaries, Etc. Etc. Not to sound like a Pollyanna here but I think you left out the part where we downsize to the community/Township size & take care of our own. Yes, the government can & probably will have control of the money..But it's their's to start with isn't it? We the people are the ones who give it value. I enjoyed the book, gained some insight from it, and will incorporate some of the measures. If what you want is solution for Mr. Panzer's future, I suggest you get busy reading the foxfire series (A Serious course in "Self-Reliance")
Several years ago, he was regarded as being "an alarmist"; now, we recognize that he was (and is) a PROPHET!
I believe we all should read this book very carefully, and use it to plan for our families' futures. Buy copies of this for your friends---they'll soon be very grateful that you did.
What I found most interesting and mainly took away from the book is the identification of the phases of collapse and what steps to take at each. Any number of scenarios may materialize. This information will help you plan and hopefully, navigate each phase.