When the first edition of this work was published early in the twenty-first century, many felt that the authors' concerns about the nation's mounting debt and the potential for financial catastrophe were exaggerated. Mel Foster's narration is enhanced by his deft use of vocal inflections, which vary the pace of his otherwise standard delivery of business-related content. Foster emphasizes the ironic undertone of the many stories of financial destruction that could have been avoided by more prudent behavior, further lending credence to the indignation many Americans now feel toward the financial industry. But some listeners may be distracted by Foster's nasal timbre and his attempts at various accents as he takes on the personas of Germans, Russians, and Americans.
When the first edition of Financial Reckoning Day was published more than six years ago, many critics felt that maverick financial writers Addison Wiggin and William Bonner were overly critical of the United States' increasing debt and the start of what seemed to be the foreshadowing of economic concerns. Fast-forward to 2009, and much of what the authors predicted has come true: high unemployment rates, record-setting foreclosures and bankruptcies, and the nearly global collapse of the financial institutions once thought to be so secure.
With this updated edition, Financial Reckoning Day Fallout, Wiggin and Bonner bring you even more down-to-earth wisdom. This timely guide reveals that the hazards of democratic consumer capitalism and the financial follies of history are not a thing of the past but an ongoing issue with no end in sight. With this book, you'll gain a better perspective of what's really going on and discover the steps you need to take to survive the difficult times ahead.
Honest and accurate, Financial Reckoning Day Fallout offers you the best chance to protect your assets and grow your portfolio in these difficult financial times.
©2009 Addison Wiggin and William Bonner; (P)2009 Tantor
I'm a lawyer and mediator. I represent businesses in disputes with their insurers and in other complex litigation. I also assist machinery companies and manufacturers (primarily international) with equipment sales, non-disclosure agreements, and business issues. I also mediate commercial disputes.
I kept thinking there would be a point to this excruciatingly long (18 hours) book. Basically, the message of the book is that financial bubbles are an inherent part of human nature; fiat currency (paper money) never works; Allen Greenspan did nothing but inflate bubble after bubble; the dollar is bound to fail; eventually, and probably sooner rather than later, there will be financial ruin; gold is generally a good idea, but, at this point, there is really nothing one can do to avoid the coming financial collapse. The book is punctuated with quite a few interesting historical examples, but meanders from topic to topic like a drunk in search of a new bar (the authors like to make statements like that). This book is terribly in need of (1) extreme pruning, and (2) a point. There are lots of books with a similar point of view. Peter Schiff comes to mind. Peter at least gives some ideas about how to deal with the rapidly falling dollar. As for this one, my advice is don't waste your time. If you are bound to try it, listen to the last two or three hours and you will get the gist of it.
Yes, because you can re-listen to drive down the points being made. It is harder to do this when sitting down with the book. It is a book that can be listened to many times.
The clear analogies relating to the poor economic policies being fostered by our government.
I cry for our country and for our children.
Those unfamiliar with Bonner and Wiggin will love their use of metaphor and their clear style and humor.
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