Download Financial Reckoning Day Surviving the Soft Depression of the 21st Century Bill Bonner

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Description Financial Reckoning Day Surviving the Soft Depression of the 21st Century Bill Bonner

Publisher CommentsIs the U.S. economy turning Japanese? According to maverick investment writers Bill Bonner and Addison Wiggin, the country?s current economic picture mirrors that of Japan?s decade-old soft depression?caused by an aging population and a structural reaction to its record-breaking financial boom.

As the U.S. downturn drags on, investors want to know what?s behind it all, what?s in store, and what they can do to safeguard their investments. Financial Reckoning Day: Surviving the Soft Depression of the 21st Century helps you chart your own financial destiny in today?s precarious investing climate.

Irreverent and eye-opening, this big picture investment book starts with a simple premise: history shows us that investing has less to do with raw economic data and new statistics?the domain of most other investment books?and more to do with old rules, metaphors, and experience. Putting this unique metaphorical focus (and its underlying principles) into action, Financial Reckoning Day draws upon military and sociopolitical milestones to highlight the surges and slides of history.

Going a step further, the authors emphasize the powerful relevance of these events to today?s economic uncertainties.Brimming with down-to-earth wisdom and take-it-to-heart lessons, Financial Reckoning Day tells you: Why the Information Age stock boom went bust, with sobering insights into such companies as Amazon.com, Cisco Systems, and Global CrossingWhy high-spending, high-borrowing consumerism leveraged the U.S.

economy and what you might expect from the soft, slow depression in the decade aheadWhy Japan?s miracle economy unexpectedly collapsed and why a decade of monetary stimulus has failed to revive itHow the Civil War?and the financing of wars in general?led to the creation of the central banking system What the legacy of Fed chief Alan Greenspan ought to be How the speculative mania for John Law?s Compagnie des Indes in the early eighteenth century presaged the dot.com stock craze How the Aging of the West is more likely to affect stock prices in the years to come than fiscal policyAs it reveals the hazards of democratic consumer capitalism and the financial follies of history, Financial Reckoning Day warns that depressions are not necessarily a thing of the past.

And that?s why it?s so vital to have an essential, wide-angle resource like this on hand . . . to get you through the current crunch?and put profits back in your portfolio.Review“This book is an intellectual tour de force.” (GetAbstract.com)“…a very level-headed book for adventurous readers.” (Accounting Technician, May 2004)This worthwhile, well-organized book presents insights into the current U.S. economy by comparing contemporary economic events with historical ones, especially such systems as Japans in the 1990s and the United States in the 1930s.

Find out why high-spending, high-borrowing consumerism leveraged the U.S. economy and also what the soft depression means for investors. (Best Business Books 2003, Library Journal, March 15, 2004)...The authors...come up with some disturbing conclusions... (The Journal, Newcastle, 5 February 2004)...every serious investor should read this book...

(www.iii.co.uk (AMPLE), 6 January 2004)...the book has rattled me enough to prompt further inquiry. (The Telegraph, 13 December 2004)SynopsisWith the market in its current downturn, investors are looking for answers as to why and what they can do to protect their current and future investments. Days of Financial Reckoningwill provide the answers to those questions.

Written by a well-respected financial professional -- whose publications and newsletters reach hundreds of thousands of investors -- this book is based on the theory that America is currently in a soft depression much like that of Japan a decade ago.

Days of Financial Reckoningdiscusses why this is so dangerous, and how we can survive such an event.SynopsisHistory shows that people who save and invest grow and prosper, and the others deteriorate and collapse.As Financial Reckoning Day demonstrates, artificially low interest rates and rapid credit creation policies set by Alan Greenspan and the Federal Reserve caused the bubble in U.S.

stocks of the late ?90s. . . . Now, policies being pursued at the Fed are making the bubble worse. They are changing it from a stock market bubble to a consumption and housing bubble.

And when those bubbles burst, it?s going to be worse than the stock market bubble . . . No one, of course, wants to hear it. They want the quick fix.

They want to buy the stock and watch it go up twenty-five percent because that?s what happened last year, and that?s what they say on TV.?Jim Rogers author of the bestseller Adventure Capitalist from the Foreword to Financial Reckoning DayAdvanced praise from bestselling authorsAn investment book that will not only enlarge your investment horizon, but also make you laugh and thoroughly entertain you for a few hours.?Dr.

Marc Faber, author of the bestseller Tomorrow?s Gold Financial Reckoning Day is . . . in the category of scintillating sex or good vision, something to be savored and enjoyed?before it is too late.?James Dale Davidson author of the bestseller The Great Reckoning and The Sovereign IndividualA powerful and insightful vision . . . each paragraph stimulates a new rush of thoughts that fills in gaping holes in the investor?s understanding of what has happened to their dreams .

. . while prepping them to confront any new confusion that may arrive. ?Martin D. Weiss, author of the bestseller Crash ProfitsSynopsisIncludes bibliographical references (p.

285-290) and index.SynopsisHistory shows that people who save and invest grow and prosper, and the others deteriorate and collapse.As Financial Reckoning Day demonstrates, artificially low interest rates and rapid credit creation policies set by Alan Greenspan and the Federal Reserve caused the bubble in U.S.

stocks of the late 90s. . . . Now, policies being pursued at the Fed are making the bubble worse. They are changing it from a stock market bubble to a consumption and housing bubble.And when those bubbles burst, its going to be worse than the stock market bubble . . .No one, of course, wants to hear it. They want the quick fix. They want to buy the stock and watch it go up twenty-five percent because thats what happened last year, and thats what they say on TV.—Jim Rogers, author of the bestseller Adventure Capitalistfrom the Foreword to Financial Reckoning DayAdvanced praise from bestselling authorsAn investment book that will not only enlarge your investment horizon, but also make you laugh and thoroughly entertain you for a few hours.—Dr.

Marc Faber, author of the bestseller Tomorrows GoldFinancial Reckoning Day is . . . in the category of scintillating sex or good vision, something to be savored and enjoyed-before it is too late.—James Dale Davidson, author of the bestseller The Great Reckoning and The Sovereign IndividualA powerful and insightful vision .

. . each paragraph stimulates a new rush of thoughts that fills in gaping holes in the investors understanding of what has happened to their dreams .

. . while prepping them to confront any new confusion that may arrive.—Martin D. Weiss, author of the bestseller Crash ProfitsAbout the AuthorWILLIAM BONNER is President and CEO of Agora Publishing, one of the largest financial newsletter companies.

Headquartered in Baltimore, Agora now has offices overseas in London, Paris, Ireland, Bonn, and Johannesburg. Mr. Bonner is also the creator of the Daily Reckoning, a contrarian financial newsletter sent via e-mail (www.dailyreckoning.com). The newsletter now has more than 500,000 readers in the United States and Great Britain and is translated daily into German and French. It has received praise from mainstream publications, including Money.ADDISON WIGGIN is the Managing Editor for the Daily Reckoning.

A contributor to Strategic Investment, Mr. Wiggin is also the author of the Daily Reckoning Weekend Edition (www.dailyreckoning.com), a weekly wrap-up of contrarian investment analysis. Before joining the team, he served at the Cato Institute in Washington, D.C., and earned his master’s in philosophy from St. John’s College in Santa Fe, New Mexico.Table of ContentsIntroduction.

1. The Gildered Age. 2. Progress, Perfectibility, and the End of History. 3. John Law and the Origins of a Bad Idea. 4. Turning Japanese. 5. The Fabulous Destiny of Alan Greenspan. 6. The Era of Crowds. 7. The Hard Math of Demography. 8. Reckoning Day: The Deleveraging of America. 9. Moral Hazards. Notes. Bibliography. Index.

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