The Real Crash: America's Coming Bankruptcy---How to Save Yourself and Your Country

The Real Crash America s Coming Bankruptcy How to Save Yourself and Your Country For over % new material including many startling developments that have occurred in the past few years check out The Real Crash Fully Revised and Updated Edition on sale now You might be thinking

  • Title: The Real Crash: America's Coming Bankruptcy---How to Save Yourself and Your Country
  • Author: Peter D. Schiff
  • ISBN: 9781250008350
  • Page: 387
  • Format: ebook
  • For over 30% new material including many startling developments that have occurred in the past few years, check out The Real Crash Fully Revised and Updated Edition, on sale now You might be thinking everything s okay the stock market is on the rise, jobs are growing, the worst of it is over.You d be wrong.In The Real Crash, New York Times bestselling author Peter D SchFor over 30% new material including many startling developments that have occurred in the past few years, check out The Real Crash Fully Revised and Updated Edition, on sale now You might be thinking everything s okay the stock market is on the rise, jobs are growing, the worst of it is over.You d be wrong.In The Real Crash, New York Times bestselling author Peter D Schiff argues that America is enjoying a government inflated bubble, one that reality will explode with disastrous consequences for the economy and for each of us Schiff demonstrates how the infusion of billions of dollars of stimulus money has only dug a deeper hole the United States government simply spends too much and does not collect enough money to pay its debts, and in the end, Americans from all walks of life will face a crushing consequence.We re in hock to China, we can t afford the homes we own, and the entire premise of our currency backed by the full faith and credit of the United States is false Our system is broken, Schiff says, and there are only two paths forward The one we re on now leads to a currency and sovereign debt crisis that will utterly destroy our economy and impoverish the vast majority of our citizens However, if we change course, the road ahead will be a bit rockier at first, but the final destination will be far appealing If we want to avoid complete collapse, we must drastically reduce government spending eliminate entire agencies, end costly foreign military escapades and focus only on national defense and stop student loan or mortgage interest deductions, as well as drug wars and bank and business bailouts We must also do what no politician or pundit has proposed America should declare bankruptcy, restructure its debts, and reform our system from the ground up.Persuasively argued and provocative, The Real Crash explains how we got into this mess, how we might get out of it, and what happens if we don t And, with wisdom born from having predicted the Crash of 2008, Peter Schiff explains how to protect yourself, your family, your money, and your country against what he predicts.

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    One thought on “The Real Crash: America's Coming Bankruptcy---How to Save Yourself and Your Country”

    1. Having recently read Paul Krugman's, End This Depression Now!, and finding myself in more or less agreement with most of it, I was looking for the conservatives' take on our economic problems. After a month-long battle with Ayn Rand's, Atlas Shrugged, I eventually came across The Real Crash: America's Coming Bankruptcy---How to Save Yourself and Your Country by Peter Schiff. Most of my friends consider me to be a "pinko leftist", and they're probably right (or maybe I just run with the wrong cro [...]

    2. Peter Schiff accurately predicted the 2008 meltdown of the mortgage market and financial sector. Before it all hit the fan, though, he was called a doomsayer and was frequently laughed at on the mainstream financial talk shows. But he turned out to be right. The real problem, Schiff argues in this book, is that what happened in 2008 was not actually "The Crash," but was simply the prelude to it. The dot-com bubble popped at the turn of the century; the housing bubble popped in 2008; Schiff shows [...]

    3. Notes of 29th October 2013.Now that it is a hot topic in the USA the question of the “debt ceiling” and the “default” risk (let’s see coming February), this book is quite appropriate. Some weeks over the Government Shutdown (a short-term victory for Obama) many wonder what’s next. A divided (and apparently unpopular) GOP tries to assert itself midst the moderates and Tea partiers. Anyway, perplexity and doubts can surely be seen on the USA future. I’ve watched an interview investor [...]

    4. So basically this is what I got out of this: Invest in+ Raw materials+ Agriculture+ Dividend-paying stocks in companies that sell to growing markets abroad (not necessarily American companies who do so as they may incur burdensome taxes for their efforts)+ Currencies of: Australia, Singapore, Hong Kong, New Zealand, Switzerland, Norway, the Netherlands, Canada, China.+ Short-term, nondollar bonds+ GoldQuotes:Whenever people credit me with calling the crash, it pains me to tell them that what the [...]

    5. I normally pass on books like this, books that promise the next best and greatest investments, predict impending economic doom or guarantee how to get filthy rich in 30 days or less! Invariably these books tend to be narrowly focused, involve some sort of extreme political, social or economic position, grind lots of axes and conclude with an often times not so subtle sales pitch. However I went against my best judgment when a good friend at work insisted I give it a read and let me borrow his co [...]

    6. *A full executive summary of this book is available here: newbooksinbrief/2012/06/04Since the housing and financial crash of 2008 America's recovery has been tepid at best. Unemployment has remained high; manufacturing has not returned; personal savings are as low as they've ever been, and personal debt as high; housing is still a mess, and banking not much better; and, on top of it all, government debt is awe-inspiring and seems completely insoluble. According to financial investor, commentator [...]

    7. For those who aren't familiar with Schiff's understanding of the economy I refer you to 2 things: 1) Schiff's book Crashproof (written in 2006) or Crashproof 2.0 (a copy of Crashproof but with commentaries after each chapter about how things played out in 2008). He wasn't just a "doomer" in predicting the 2008 financial crash; he explained why. Secondly, he was recognized for his analysis by an economist, Bezemer, who wrote a paper "No One Saw This Coming." About a dozen other people were also r [...]

    8. How interesting that I finished this book as the LIBOR mess is unfolding.This book includes a lot of stuff I agree with, and a lot of stuff that's specious. Schiff absolves actions of corporations and banks with the excuse that they're merely following the government's lead. Business is equally corrupt as government; at least government acts under the auspices of improving everyone's situation, not just executives and the largest stockholders. The free market is not the cure-all Schiff (and Ron [...]

    9. Despite the low rating, I actually really enjoyed reading this book. It's a super-interesting read, if you actually know a few things about economics and enjoy fishing logical mistakes and questionable (often hidden) assumptions in a superficially convincing argument. While Peter Schiff is right about some things (his libertarianism on social issues is well-placed and his arguments are sound) and more intellectually consistent than most pundits (admittedly a low bar), his economic model remains [...]

    10. I am yet to find an opponent of Peter's ideas who can offer one half as strong of an argument as he makes

    11. Schiff argues that America is enjoying a government-inflated bubble, one that will eventually burst with disastrous consequences for the economy.In his view, the disease in the economy is debt-financed consumption, and the cure will require a recession. The medicine – Americans consuming less and saving more while companies invest for the long term and the government tightens its belt – was deemed too bitter a pill to swallow by the Bush and Obama administrations. Instead, they fed the econo [...]

    12. Peter Schiff gets it.I could have written this book. Probably not as well, but in an ideological sense, I have never heard someone espouse economic and political beliefs that mirrored my own so much.Most of the policy changes he recommends will ever see the light of day, simply because the US of today is comprised of a government that is too big and covetous of it's own power, combined with a gutless and sheepish population that have grown up with the notion that government will always be there [...]

    13. Wow.I wanted to like this book, I really did, but there were times that I wanted to throw it down and just walk away.Peter Schiff was okay when the subject was economics, debt, national deficit, etc. but when he started talking about the environment, education, legalizing drugs and prostitution I became frustrated (mainly by the books inability to respond to my mental arguments) by the deficiency in the exploration of the socio and moral repercussions for some of the changes he was arguing for, [...]

    14. While Schiff is very good at identifying what's going on and what is likely to come economically, "the market" is not the answer to everything. Some solutions I liked. Others were proposed with federalism trumping morality.

    15. In chapter 5 he sound like recommending his own buesniss as an advisor. Nevertheless, He was right all along

    16. He has a lot of interesting points. And maybe he is a bit of an alarmist. I need to study the subject more before coming to any conclusions.

    17. Every American needs to read this book. Few will though as it is chalk full of predictions about our economy that few will want to hear.

    18. I'll admit, there were a few hiccups here and there with some questionable ideological shortcuts to make his arguments more salient to the reader. Nevertheless, Schiff is great at making arguments that are clear to understand. You don't need to do cognitive somersaults to conjure the imagery of cause-and-effect in the discussion of tax rates, inflation, saving disincentives and the impact of excessive stimulus spending when he unpacks them, unlike a lot of others who attempt to simplify these co [...]

    19. I would counsel anyone looking for a balanced, objective examination of the economic issues facing the country to look elsewhere. Schiff wears his ideological bias on his sleeve, and unfortunately a lot of what he says must be taken with a grain of salt.While my myriad objections to the book I detailed below, my chief complaint is this: the book presents an inflammatory portrait of the American economy (not erroneous, see below) and is dotted with investment "tips" that may sound impressive to a [...]

    20. greedy vultureshe is telling us and warning us something in life must be conducted in basic way: savings is actually a good thing, no free lunch.d debt especially personal debt is a very bad thingnment is leading a pack of greedy evils to sell you to loan you something you don't need: car loan, student loan, QE, and what USA is facing is enormous debt and personal debts in which is only heading to one direction: spiral downwardsbut someone has to poke the balloon for all the fake safety measures [...]

    21. This book has been an amazing journey not only in exploring the upcoming economic crash but more on understanding how things work in the economy and how you could put both highs and lows to your advantage. It id only by understanding could we prepare and have a competitive advantage. It's not a question of will the crash happen or not - it's all about how well prepared are you about the uncertainties of the future. Thanks Peter for sharing your insights.

    22. I predicted the crashes he did as well, but I can’t be further from Schiff in reasoning after Chapter 3. As a smart man I can only suppose he doesn’t consider most Americans as people much less people who matter. But they do matter and not only to decent human beings but to his calculations on economic growth. Equivocation on a grand scheme can only balance his logical construct.

    23. I had to quit half way through. Some very good points but awash with agressive, opinionated positions poorly thought out. Would have been much better if the author presented the facts as he saw them and left all the snide remarks aside.

    24. While his point is clear - the problems about capital should be left to the markets, a full book worth repeating this through various samples makes it a bit boring read.

    25. One of the clarifying metaphors Schiff uses in this book to explain current economic woes is about a patient who presents to a doctor with symptoms of illness in his hands, feet, face, eyes, dick, brain, etc. etc. (I forget all of the body parts that were featured) The doctor, seeking to find a root cause for the various maladies, checks the patient's blood, which courses through the whole body, so chances are that something wrong with the blood would be causing problems in all the patient's var [...]

    26. It's terrifying what his predictions are, but he makes a good case on why the crash of 2008/2009 will look small after the next economic crash.

    27. This book is supposed to be about the "real crash" that is coming, following the 2008 recession. He spends exactly 52 pages on this. The other 300 pages is basically one long political rant.The government and the people are both wracked with unprecedented levels of debt, that will soon because unmanageable. The government can't even afford to pay the interest on this debt; it merely borrows more to pay the interest. When the time comes to pay the piper, the government will be unwilling to make t [...]

    28. A great book. The author makes a great argument about the state of the economy. The only caveat is that Mr. Schiff's general views may be a bit too extreme for some. Nonetheless, all his ideas are interesting for the open mind.

    29. I bought this book because I found Mr. Schiff's boldness in proposing the elimination of entitlements in the USA to be refreshing and intriguing. His proposals to eliminate income taxes and entitlements were enough to compel me to buy the book. And on those issues, Mr. Schiff makes sound arguments.However, Mr. Schiff then proceeds to throw the baby out with the bathwater. Unfortunately, he takes the all-too simplistic libertarian stance of "if less government is good, then no government must be [...]

    30. In this book, Peter Schiff explains what he he believes are the causes of America's financial crisis and the drastic measures he believes we should take to solve them. I agree with him on several points he makes. I agree with him that:Social Security is a legalized pyramid scheme.Going off the gold standard and allowing the Federal Reserve to create fiat money devalues the whole money supply.Excessive government regulation hinders job creation, business growth and energy independence.Our foreign [...]

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