Product Description
By the early 90s, a raging bull market was delivering spectacular returns, causing some to believe that a market collapse and subsequent depression would soon appear. As a result of these fears, some exited the capital markets altogether. Thereafter, the Internet took off causing the market bubble to swell, many high-tech stocks with seemingly limitless valuations. Over the course of its 13-year stretch, the market appreciated by over 600 percent, with average annual returns in excess of 18 percent. And we all remember what happened at the start of the new millennium. Even after the deflation of the Internet bubble, cautious investors who pulled out of the market a decade earlier missed out on spectacular returns since then. Many investors who entered the market near its peak suffered devastating losses. But most who remained invested since the early 90s are still much better off today. While this correction revealed the most recent illusions embedded within the economy, it s only a small part of what will be a larger correction in the coming years. Despite the scandals in corporate America and Wall Street, many investors fail to recognize that the post-bubble period is quite different from the Bull Run in the 90s. But today, the capital markets have been realigned with authenticity, and economics now control the investment cycle rather than hype generated by Wall Street. Accordingly, Wall Street and the U.S. Government can only hide the realities of America s decline for so long. Unfortunately, America entered the free trade paradigm as a losing participant from the start. While America remains as the centerpiece for the global economy, it relies on record debt to maintain its status as the world s strongest consumer marketplace. But this cannot last much longer. America s vulnerable role in the new economy threatens to erode the strength of its empire. Already, America has witnessed a gradual disappearance of its core citizens; the middle class. As well, poverty continues to grow while America s wealthiest quintile increases their wealth. These trends have been masked by record levels of credit-based spending and manipulation of economic data. For over two decades, several nations have benefited at the expense of America s job base and living standards. This led to a long period of excessive consumption relative to productivity. When the economic boom from the post-war period began to lose steam in the 60s, consumption began to exceed productivity, as Americans refused to acknowledge a decline in living standards. Up until the 70s, America fueled this consumption-production disparity using the surplus wealth generated during the post-war boom. During the 80s, America s growing consumption was compounded by massive government spending and a devastating oil crisis. Shortly thereafter, the consumer credit industry grew to meet the demands of a nation experiencing large productivity deficits. And today, America is vastly different than the post-war period. Rather than increases in net wealth, America s growth over the past two decades has been fueled by credit spending which has created the illusion of impressive productivity, while serving to mask declining living standards. As a consequence of these changes, America s financial industry is now one of its biggest and most profitable. Today, America is more dependent on foreign nations than anytime in its history. Declining oil reserves and a foreign-funded credit bubble have positioned the fate of this nation in the hands of the world. Soon, America will face the economic burden of 76 million aging boomers. Beginning in 2011, mandatory expenditures for Medicare, Medicaid and Social Security will start to grow rapidly. By 2025, these expenses will have swelled to unthinkable levels.
Customer Reviews:
Excellent presentation of data, some mistakes.......2007-10-11
The author did an excellent job compiling data that is extremely important to understand if one is to thrive in America in the next 2 decades. There will no doubt be sweeping changes to rectify our current account deficit and aging boomer population. The author shed light on the politics behind Greenspan & Co's delay when our country needs to address these problems now. Other topics include: the .com bubble, real estate / credit bubble, free trade, health care, social security, energy crisis, and education.
Yes there are typos and some minor implications that are incorrect, but I don't believe they affect the overall concepts presented. I have also read "The Dollar Crisis" and find both books to be honest presentations of America's current economic state. I would have enjoyed even more information on developing nations, but the title of the book focuses on America, so be it. Overall, I felt this book was an excellent read that is neither conservative nor extreme but simply a presentation of data and well-thought hypothetical analysis of what is to come for America. Only the typos keep it from getting 5 stars.
Riddled with inaccuracies.......2007-07-30
This book manages to cover all major problems faced by the United States in the next 20-30 years - trade deficit, healthcare crisis, education crisis, etc. - and it does so in a fairly comprehensive way, with large numbers of facts and graphs.
The reason why I can't give it more than 3 stars for this achievement is that the number of mistakes it contains (from misspellings to factual errors) is absolutely incredible. It seems that no one (other than the author) so much as read the book before it went to the printing press.
First of all, there are spelling errors. English is not my native language, yet I've been able to notice one spelling error every 20-30 pages. "Notices in-lue of gold" (p.2). "Right to bare arms" (p.25). "America will loose its technology edge" (p.61), and so on. There are factual errors as well. According to the author, Statue of Liberty was erected on Ellis Island (p.27), Berlin Wall fell "a few years" after 1991 (p.10), and Albert Einstein immigrated into the United States in 1940. He thinks that women who give birth after entering the United States illegally are guaranteed citizenship because their newborns become U.S. citizens (p.32) - but he either does not know or fails to mention that they have to wait for their child to turn 18 before they even have a shot at legalization. He frequently claims (or implies) that Chinese goods are cheaper because Chinese government and Chinese companies do not provide healthcare or retirement benefits to their workers (p.41), when in fact they do. All these problems make me wary of any other claims he makes in his book.
There are many interesting graphs and charts in the book, but at least some of them were "cooked up" by the author from third-party data, so they are not always reliable. One rather puzzling chart is located on p. 113. It is a pie-chart labelled "Factors Driving Rising Costs in Healthcare (2001-2002, in $ billions)". However, pieces of the pie are labelled with percentage values and clearly add up to 100% (e.g. "Increased Consumer Demand, 15%"). Author comments, "Someone explain to me the economics of increased consumer demand leading to a 15% increase in healthcare costs in one year". It's clear that he has no idea what's really shown on the chart.
The book is heavy on portrayal of various weaknesses in modern U.S. economy, but rather light on attempts to predict the future. There is almost no discussion about the impact of American crisis on the rest of the world. Author predicts major revaluation of the dollar, but does not provide any macroeconomic analysis of consequences of this revaluation. He seems to think that collapse will not occur at least until 2012, but he's not very clear why he thinks it won't be triggered by deflation of the real estate bubble.
Overall this is an interesting and comprehensive book that's worth reading for anyone who thinks that U.S. economy is doing well, but it's not scientific or reliable enough to be of real value for an investor.
I recommend "Dollar Crisis" as a complementary treatment of the U.S trade deficit / credit bubble problem.
A chilling but accurate expose of how we came to be in such economic peril as a capitalist nation.......2007-06-10
In writing "America's Financial Apocalypse: How To Profit From The Next Great Depression", the author draws upon his many years of experience and expertise as a business, financial, and investment consultant for two of Wall Street's largest investment firms and elsewhere in private financial markets. Strathis provides an impressively analytical explanation as to how the liberals on the left and the conservatives on the right are working in differing ways to destroy America's fiscal and economic well-being; how the federal government in Washington is dominated by corporations; how China has taken total advantage of America's trading policies to our nation's detriment. Readers will be shocked to learn how America is legally bankrupt; how today the 'American Dream' cannot be achieved by most American citizens; the truth concerning the future of Social Security; the inevitable and looming consequences of the present pension plan crisis; and why most Americans working today will not be able to retire as their parent were able to in the past. "America's Financial Apocalypse" also addresses just how the American government manipulates economic data; how the Bush administration is responsible for the worst economic recovery in American financial history; how the real estate bubble could cause the stock and bond markets to collapse; how America's political and economic fate is in the hands of foreign countries; why the American government is really allied to the Saudi Arabians despite the established identities of the 9/11 attack; the looming global oil crisis; Alan Greenspans dismal performance as a Fed Chairman; the plummeting value of the dollar in the international currency markets; and the continuing rise in value of precious metals and oil. After laying out all of these 'inconvenient truths' about America's economic future, Strathis also lays out how the wise and savvy investor can still profit from an inevitable depression that will collapse America's economy in the very near future. A chilling but accurate expose of how we came to be in such economic peril as a capitalist nation, "America's Financial Apocalypse" is especially recommended reading for its clear and methodical explanation of just how the individual investor can survive what will prove to be the 'Next Great Depression'.
This Book Has NO Comparable!.......2007-04-05
Finally, an insightful, detailed, and massive compilation of America's economy and investment markets. This book is HIGHY recommended.
The reviewer below is actually wrong in his simplistic assumption that deflation is the exact opposite of inflation. While deflation tends to cause a relative increase in buying power, this effect is only when deflation is modest and in the early stages. During a more prolonged period, deflation creates a decline in GDP and therefore purchasing power due to the relative effects on currency exchange rates.
I find it amazing that a person could give such a bad review over one statement that he thinks is wrong (when in fact it is not) despite all of the massive data and extensive coverage of material. If a reader chooses to cherry pick from within a massive resource such as this book, they will miss the forest from the trees.
Hold on there...........2007-04-05
After spending $55+ for this book, I started to leaf through it and promptly came across the following comment: "...rising gold prices usually result from a deflationary economy not an inflationary one, as investors seek to minimize the loss in buying power of their currency." So far as I know, a deflationary environment INCREASES the buying power of one's currency, as prices generally decrease during a deflationary episode. In other words, one can buy more loaves of bread per dollar in the bank. Gold is generally a hedge against inflation or fiat currency collapse, not deflation. Given what seems to me a basic error of this nature, I will be skeptical of other information in the book.
Book Description
The dollar is in trouble. It has fallen against other currencies for the past three years, and now its orderly retreat could well become a rout. This spells potential disaster for the American economy—and potential riches for a few smart investors. In The Coming Collapse of the Dollar and How to Profit from It, financial gurus James Turk and John Rubino show how the dollar arrived at this precipice, why it will plunge, and how you can profit from the resulting financial crisis.
The U.S. today is the world’s biggest debtor nation, printing money with abandon to sustain the illusion of prosperity. The federal government owes $7 trillion and its debt is soaring. As a society, we owe more than $37 trillion, or about $500,000 per family of four. Our trade deficit with other countries is staggering, and to finance this mountain of debt we’re flooding the world with dollars. The inevitable result: The dollar will decline until it is displaced as the world’s dominant currency. Precious metals will soar in value, and gold will reclaim its monetary role at the center of the global financial system.
Traditionally a haven during times of uncertainty, gold has risen dramatically since 2001. By the fall of 2004 it was up by nearly 50
%, at over $400 an ounce. But this is just the beginning.
James Turk, a leading gold authority and the founder of GoldMoney.com, and veteran financial writer John Rubino, show readers how to capitalize on gold’s dramatic climb. In The Coming Collapse of the Dollar, Turk and Rubino reveal which stocks and bonds will falter as the dollar declines and why that decline is virtually inevitable. They offer strategies for using gold coins, gold stocks, gold-based digital currencies, and other hard assets to create a profitable portfolio. And they explain how to make the most of your gold and other precious metal holdings, identifying the opportunities and pitfalls of buying gold mining stocks and the mutual funds that invest in them.
America’s debt binge has put its economy at grave risk. The value of the dollar is falling; many stocks are once again wildly overvalued; and bonds, tied to an ever-diminishing dollar, are a disaster waiting to happen. By investing in gold and other hard assets, Turk and Rubino explain how you can protect yourself from these dangers.
The Coming Collapse of the Dollar and How to Profit from It is a must read for every investor, whatever the size of his or her portfolio.
For more information, visit
www.dollarcollapse.com.
Customer Reviews:
Ignore this book at your peril.......2007-01-11
Our financial survival and prosperity depend on properly structuring our investment portfolios. Can you afford to idly stand by and witness evaporation of the purchasing power of your dollar-denominated paper assets? It is still time to protect the remainder of your assets by converting much of it to the wealth of ages, gold. Gold is wealth in itself, independent of debt and empty promises. This is no idle speculation, this is a concrete actionable set of plans suitable for different individual situations. You could spend 20+ times more on a financial consultant and still not receive this vital advice. Do yourself a favor: buy, read and act upon this book. Then share the message with your loved ones.
Read it!.......2007-01-07
Another great practical book on economics and investing for the common man. I learned so much about how things are now in America from this book. I recommend it heartily to anyone who wants to know more about gold, fiat money, the mess this country is in, and the doom that awaits us.
Coming collapse of the $.......2007-01-06
awesome book...I read it right after "Hot Commodities" by Jim Rogers...awesome book as well...US has alot of problems with the greenback and its possible demise as the worlds reserve currency...Jim has been talking about this as well for some time and is certain that the US will lose this status as the govt. busily prints money at will....devaluing the $ and killing its value, creating the real inflation problem...the book is very comprehensive in its argument and insightful in its recommendations...fast read!
Good Introductory Text.......2006-11-11
Overall, the author presents the case for a dollar collapse in moderate detail. Using gold as a protection mechanism is also well laid out. For the novice in this field of investment, which seeks to understand major economically destructive change before it occurs, this book does lay out the potential dollar problems nicely. For the more advanced student, there is not much new information here.
Book review of the coming collapse of the Dollar..........2006-11-10
It was quite informative but since we are in late 2006 it was a little outdated as they are comparing Gold prices from 2 years prior. But it was right on the money because as of their writing this Gold did rocket up to $600/oz from $300/oz so they were correct in their analysis. Very good read. I recommend it.
Book Description
A detailed look at how to profit in the precious metals market
Today, gold, silver, platinum, and palladium offer a new and different profit potential for those who understand the impact of new technologies, new economic forces, and new demographics. Updated to reflect changes in this market since the mid-1990s, The Precious Metals Trader focuses on new developments that could translate into serious profit-making trends-from electrically-generated automobiles that could substantially increase demand for platinum to the increased use of composites in dentistry, which could negatively impact the use of both silver and gold. The Precious Metals Trader also explains the supply/demand fundamentals of the four precious metals-gold, silver, platinum, and palladium-and provides projections about long-term trends and profit opportunities that will coincide with them. Filled with fresh insights from Philip Gotthelf-one of the top experts in this field-The Precious Metals Trader offers readers the guidance they need to trade profitably within this dynamic market.
Philip Gotthelf (Closter, NJ) publishes the Commodex System-the oldest daily futures trading system published in the world-and the Commodity Futures Forecast Service. He is also President of Equidex Incorporated and Equidex Brokerage Group Inc.
Customer Reviews:
Doesn't Do The Job.......2007-06-26
The book doesn't live up to the title...in the chapter on forecasting he states, that it can't be done. I think what he meant to say was, he doesn't know how to forecast the price of precious metals. I sent my copy back.
rational advice.......2007-03-17
A major motivation for the writing of this book is the run up in prices of gold, silver and platinum during this decade. So when I started reading this book, I expected some shrill hyping. Because in the last 25 years or so, the niche of precious metals has been about the worst performing sector in the US, considered over all mainstream investment classes.
Yet, against most of my expectations, Gotthelf offers fairly sober advice. He does point out that from 1972 to 2004, the silver price equilibrates around $5/ounce. And that, for example, a bull market in silver tends to be short lived; around 1 year. All this adds to a cautionary approach. Don't think that silver prices can keep rising indefinitely. Be a cynical bull.
He also analyses gold. For both, hedging advice is proferred. Along with writing of covered calls against any bullion that you own outright. And he cites examples of past frauds in the field of holding bullion. Keep your wits about you.
Average customer rating:
- Great for the professional but a 'must' for the novice.
- An excellent and timely analysis of precious metals.
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The New Precious Metals Market: How the Changes in Fundamentals Are Creating Extraordinary Profit Opportunities
Philip Gotthelf
Manufacturer: McGraw-Hill Companies
ProductGroup: Book
Binding: Hardcover
 General
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Commodities
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ASIN: 0786308400 |
Book Description
During the 1980s and 1990s, when gold rocketed above $800 an ounce and silver approached $50, many believed that these upward trends would never end. But prices plummeted, misinformed investors lost millions...and savvy investors stepped in to pick up the pieces and the profits. Philip Gotthelf , who first warned that silver could fall below $4 on NBCOs Today Show and later called for declines in gold and a change in price parity for platinum and palladium, proved an extraordinary prognosticator for investors following his advice. Now Gotthelf has a new book and, whether you are new to coins, bullion, and mining stocks, or an old hand at hard asset investing, The New Precious Metals Market is a must read. From a brief history of precious metals to detailed investment strategies, this thought-provoking book explains the need and purpose of gold, silver, platinum, and palladium as our world changes and we face new challenges. Do you know which events will affect specific metals? Just as important, do you know how and when? The New Precious Metals Market delivers the special information you need to approach markets with new enlightenment and market-tested, market-proven strategies. Through the pages of this profound book, you can share the knowledge and experience of one of the worldOs most recognized analysts. Your new fascination with precious metalsNand their profit-packed possibilitiesNstarts here.
Customer Reviews:
Great for the professional but a 'must' for the novice........1999-04-01
Wanting to diversify my portfolio I figured I needed this book. Oh, how right I was. This book gives the reader a thorough understanding of the fundamentals of precious metals which in itself would be well worth the price paid but it also provides great psychological insights into why precious metals gain and loss their luster during times of tumultuous markets. The author has an easy to understand and witty style that makes it a pleasant research vehicle. Good luck to all, Todd
An excellent and timely analysis of precious metals........1998-10-07
THE NEW PRECIOUS METALS MARKET provides the most comprehensive and up to date analysis of precious metals currently available. This is a no-nonsense and objective review of gold, silver, platinum, and palladium as investments, trading vehicles, inflation hedges, and plain old commodities. Philip Gotthelf does not provide the typical sugar coated view that "nothing is as good as gold." Instead, he details realities facing precious metals which include digital photography's impact upon silver, new gold extraction technology, technical cycles, and even stock investing.
This book avoids complexity and gets down to business. Why should you consider precious metals in your portfolio? The answer in the book is a surprise to many. Philip Gotthelf does not take the traditional line that these metals are good investments. Instead, he gives pragmatic reasons why investors should avoid accumulating hard inventories in the "new economic environment." He covers metals as monetary instruments. He touches upon scandals like Bre-X and how investors can avoid getting caught.
The book is full of charts and illustrations that are clear and easy to understand. In a time when economic uncertainty is at a peak, this book is essential for anyone considering gold, silver or the other metals as investments.
Average customer rating:
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How to Profit in Precious Metals
Jacob Bernstein
Manufacturer: John Wiley & Sons Inc
ProductGroup: Book
Binding: Hardcover
Public Finance
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Futures
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ASIN: 0471887463 |
Average customer rating:
- Nice Christmas (1998) Gift
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The International Encyclopedia of Mutual Funds, Closed-End Funds and Real Estate Investment Trusts
Peter W. Madlem , and
Thomas K. Sykes
Manufacturer: AMACOM/American Management Association
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ASIN: 0814404723 |
Book Description
THE INTERNATIONAL ENCYCLOPEDIA OF MUTUAL FUNDS, CLOSED-END FUNDS, AND REITS Funds and REITs are among the fastest-growing and most important investment vehicles used by huge numbers of investors who wish to capitalize on the stock and real estate booms of the 1990s. This timely book provides the high-quality information, both historical and conceptual, which will help to ensure the right investment choices. The International Encyclopedia of Mutual Funds, Closed-End Funds, and REITS is truly a publishing landmark, designed specifically for the savvy investor of the late 1990s. Every conceivable concept, term, fund type, and strategy as well as a huge array of individual funds and REITs are described, explained, and illustrated in this remarkable book. Complete with glossary terms, extensive appendices, and clear and concise definitions, this on-the-money book promises to become the standard by which all other books on mutual funds and REITs will be judged.
Customer Reviews:
Nice Christmas (1998) Gift.......2001-11-20
The major part of this book is made up of two page wide, single line entries for each fund. Entries consist of the usual stats available for free on-line. It would be worth the price to have this information neatly bound in a book - if the data was current, but it isn't. November 1998 mutual fund data is not much use in November 2001 (will this bull market ever end?). No fault of the authors - but not a good buy now.
Average customer rating:
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The Mutual Fund Encyclopedia
Gerald W. Perritt
Manufacturer: Dearborn Financial Publishing
ProductGroup: Book
Binding: Paperback
Mutual Funds
| Investing
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Business
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ASIN: 0793103843 |
Average customer rating:
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Mutual Fund Encyclopedia
Gerald W. Perritt
Manufacturer: Dearborn Trade,U.S.
ProductGroup: Book
Binding: Paperback
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| Bonds
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| Introduction
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ASIN: 0793106176 |
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