Early on he emphasizes the importance of reducing and then eliminating debt. His advice for holding cash is as "safe" as it gets from everything -- except inflation. He reminds readers there will be better times after the disaster, and you can get wealthy in them. He documents the extent of our debt problems, and includes derivatives. He stresses the need to avoid risk. He recommends buying stocks that pay dividends, though implies you should do so only after the crash. He recommends leveraged inverse Exchange Traded Funds to profit from market crashes.
They are a form of debt and quite risky given that you can't know exactly when markets will crash. He recommends currency ETFs. I agree with the concept of diversifying out of the US dollar, but why not certificates of deposit in other currencies so you at least earn some interest? He wants you to get out of stocks now, before the crash, although he has no idea when it will happen. He's been predicting deflation for many years. Much of his advice relies on the reader successfully timing the market and the economy. For example, the advice to buy some gold will work only if done so while government is still successfully inflating economy by injecting trillions of dollars into it.
Once a deflationary crash comes, gold will crash with it. But much of his other advice will be useful. The biggest warning readers should heed is that we are in historically unprecedented times. How long can governments and central banks such as the Federal Reserve continue to kick the can down the road?
Weiss has been predicting crashes and financial calamities for many years. Many of the magalogs his copywriter Clayton Makepeace wrote and he mailed out warning of deflation from the Asian currency crisis of and the Y2K crash to come are classics. This book allows for the possibility of extreme inflation, at least for a time, following government stimulus programs.
Some may criticize Weiss for not coming down squarely on the side of inflation or deflation, as most other writers do, but Weiss may have concluded that nobody -- even himself -- knows the future, and we need to be prepared for either -- or both. A 3-Step Practical Survival Guide: I recommend this book for its useful information. Readers must decide for themselves how to apply it to their own financial situations.
My own conclusion is the financial crisis and crash predicted by doomsayers in the s has been happening, but greatly slowed down and prolonged by excessive debt and government spending. We've been sliding slowly into the quicksand but we don't recognize it because it seems normal and we're still breathing.
I've been hearing for nearly forty years how "we can't go on much longer with this much debt" yet, somehow, we have, and have kept on increasing both personal and government debt. Not without problems and rough patches, but also without economic Armageddon. Yet now that entire developed countries are needing bailouts, we do seem to be reaching the end. Our faces must be close to the ground.
The Ultimate Money Guide for Bubbles, Busts, Recession and Depression by Martin D. Weiss
But we can't know how close until we're inhaling mud. This book addresses a wide range of topics which I've not seen discussed before in this realm. Much of this information is relevant regardless of what may or may not happen to the U. Are the United States government and the Federal Reserve America's Central Bank driving our nation toward an "inflationary" or a "deflationary" recession or depression; and, depending on the answer, what should the reader do, and not do, to survive and thrive economically, and when?
Weiss also provides his own well-educated, well-informed, and highly-surprising answers. Can any American concerned about the path the U.
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I don't think so. What makes the book truly extraordinary is the deep insight conveyed by the author on such a wide array of topics. Based on his seemingly unparalleled understanding of how America's political, economic, and investment systems operate, he is well-qualified to do so. He acquired this deep understanding in part from his father [a stock market researcher, analyst, investor, and investment advisor before, during, and after the first great depression circa ], in part from his own extensive experience, and in part through his involvement in Japan's lost decade of the 90s.
In my view, few, if any, authors can match these credentials. So, if you're looking for ONE book which might help you understand where America is headed and, more importantly, WHY; and what you might or, better said, "must" do to protect yourself, this is the one.
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For the material presented in this book is so important that the book's title doesn't begin to do it justice. Great review and analysis of the current financial situation and preparation for future planning. Maybe it is because I am not sure what they are telling that is true. I am a depression person.
This book has down to earth advice for those of working age in handling their money. I am a retired senior and have depended for years on Dr. Weiss appeared on Amazon, I purchased it immediately because I hold him in such high regard for honesty and knowledge. However, when it arrived I found it loaded with excellent information for the working-age person, but not for me since I am in a "no risk" investment category which for me means investing only in CDs. Weiss does offer information on low risk investments, but for me it is best that I stay with no risk.
In fact, I urge you to purchase and read it so that you have a working knowledge of the world of finance as it applies to you. As you approach retirement age, I recommend you purchase "The Ultimate Safe Money Guide" so you get a head start on handling your money in retirement. Logical steps to a logical conclusion. The world , financially, is a dangerous place. A nice roadmap to a safe conclusion. One person found this helpful. See all 20 reviews. Most recent customer reviews.
Published on June 3, The Two Trillion Dollar Meltdown. Financial Crisis Inquiry Commission. The Federal Reserve and the Financial Crisis.
The Ultimate Money Guide for Bubbles, Busts, Recession and Depression
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