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I had to force myself to read through the whole book just beacause I hate to be a quitter, but I got little out of it. I was very disappointed when I read it, though. It seems to talk around and about the issues without giving specifics on what data show the problem getting worse or better and what specifically an investor should think about doing in response. I was looking for some good information to help me assess some of the looming financial issues facing the country like paying for retirement benefits. When I flipped through the book at the store, I saw words in each chapter dealing with the issues I wanted to explore so I bought it.
I got really excited about one topic that really made so many things clear for me. So what do banks do. He, of course, gives some valuable investment advice on how to prosper in the future. I learned that because our money is insured, we don't really shop around to find the safest banks. I became interested in this book because the title sparked my curiosity.
It may be a bit too negative at some places, but it was good.- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market. This book was extremely educational. Banks are aware that we feel safe and won't run on the bank when they lose our money because the government will cover the losses. But because of their ignorance, we, as citizens of this nation, will probably pay higher taxes in the future because of their dumb mistakes. We might think that this is excellent because our money is safe. Now I understand why these banks are in so much trouble. He talks about how the FDIC insures our deposits at the banks. And if these investments turn sour, they don't care because the government will bail out the depositors.
The author analyzes how our country found itself in the financial predicament it is in. They make ridiculously risky investments with our deposits. Learn how to invest your money, how to pick stocks, and how to make money in the stock market One of the threats that the author describes is government guarantees. But is it really good for us.
Worth reading. If only half of of Mr Panzners projections come true we are in for a bad time. Written in 2006, he was prescient in seeing the destructive forces at work in our economy.
Informative of the way financial markets work. Gives a great deal of credibility to what he predicts for the future. Right on target for what we have seen in the economy. Written a couple years before it happened.
At the time, I could not tell if the author really believed all of the stuff he was predicting or if he was just hyping his scenerio because he is a sensational journalist. I remember the book suggesting to invest in food if prices start coming down, because they will whipsaw back up to crazy levels, and then.the "unraveling" of our society. Then came the Freddie & Fanny take overs, Lehman Bros bankruptcy, 60 Minutes report on Credit Default Swaps, and the stock market meltdown in October 2008. I thought he was an excellent writer, but a little on the subjective and sensational side to be totally credible. That gave me chills. This book is scary.
Plus, I didn't want to believe it. Could he have been right after all. I read it in summer 2008 and threw it in the trash because I thought it was too negative and too much hype, propaganda, and scare tactics. Was I in denial about how bad things really were. Now, looking back, I do find his deflation-inflation theory compelling. I just thought it was one author's exaggerated take on what could happen.
When that happened, I thought back to the book and how it predicted a market crash, followed by hyper deflation followed by hyper inflation.
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