Provides an easy to understand illustration of the economic forces that underlie our ability to get jobs, buy products, save and invest in the bubble popping of the mortgage market, as well as in the coming debt bubble and dollar bubble.
Comparing it to The Lords of Finance, and How Goldman Sachs Came to Rule the World are most helpful for understanding the global economy, and comparing it to Reich's Aftershock is great as a political comparison as that book has a clear political leaning to the left.
Read with emphasis on the meaning of what what being read.
The clarity with which folks participate in different roles, such as cheerleaders for the status quo of how to understand the present economic forces and how they differ to previous market cycles.
a great read
The Multi-Bubble Economy Theory expounded in this book may sound simplistic and ridiculous but it is actually a brilliant Economic theory, that perfectly models all the complexities of the modern free market economy. It may not be supported by confusing Mathematics, but the idea of multiple bubbles expanding is so intuitive and easy to visualize it must be correct. This is the most groundbreaking work since the contributions of Adam Smith. Multi-Bubbles are so comprehensive an explanation they can be applied to just about anything. In fact if you look as hard as the authors have for things to label as bubbles you will be seeing bubbles everywhere. Not only was there an internet bubble, and a housing bubble, there was also a government bubble, a bond bubble, a military bubble, a bubble bubble and a gangman style bubble. Its so exciting, i’m in a lather just thinking about it.
Now, to the core prediction of the Bubble Theory, the absolute certainty of out of control inflation, greater than 10%, as a result of massive government stimulus and money printing. The authors were able to pinpoint exactly the time it takes for the inflation to begin after the money printing begins. The crystal bubble ball says that it can never take more than two years for the inflation to appear. Now since it has been over four years since quantitative easing began, and inflation has been quite stable, one might say that this book's bubble must have popped. But I say no, I say perhaps if you look more deeply you will see more bubbles. A bubble of lies, and a bubble of deceit by the government bubble.
Now that we know that high inflation is certain (and has already begun in a bubble of secrecy), and that all of our money will lose much of its value shortly. Let us review the fantastic two pronged approach the authors propose to help protect ourselves. First we should sell all of our real estate and other hard assets and deposit our rapidly devaluing money into savings accounts. Second we should invest our money in the authors’ financial service products. The authors’ advice to stress savings as a hedge to inflation may seem counter intuitive, but it is actually brilliant. How else would they have sold so many of these books?
once you get past the self-congratulation and the sales pitches (which increase in the second half of the book), the predictions about the coming hyper-inflation and popping debt bubbles is well worth consideration. not all doomsday predictions.
business books fan
i do like to think differently and overall mind challenges, even if some of the thought mention in the book , went against my beliefs , i feeled absorbed in their logic .