The Real Crash

America's Coming Bankruptcy - How to Save Yourself and Your Country

By: Peter D. Schiff

Narrated by: Oliver Wyman

Length: 12 hrs and 55 mins

Publisher's summary

You might be thinking everything’s okay: The stock market is on the rise, jobs are growing, the worst of it is over. You’d be wrong. In The Real Crash, New York Times best-selling author Peter D. Schiff argues that America is enjoying a government-inflated bubble, one that reality will explode... with disastrous consequences for the economy and for each of us.

Schiff demonstrates how the infusion of billions of dollars of stimulus money has only dug a deeper hole: The United States government simply spends too much and does not collect enough money to pay its debts, and in the end, Americans from all walks of life will face a crushing consequence. We’re in hock to China, we can’t afford the homes we own, and the entire premise of our currency - backed by the full faith and credit of the United States - is false.

Our system is broken, Schiff says, and there are only two paths forward. The one we’re on now leads to a currency and sovereign debt crisis that will utterly destroy our economy and impoverish the vast majority of our citizens. However, if we change course, the road ahead will be a bit rockier at first, but the final destination will be far more appealing. If we want to avoid complete collapse, we must drastically reduce government spending - eliminate entire agencies, end costly foreign military escapades and focus only on national defense - and stop student loan or mortgage interest deductions, as well as drug wars and bank-and-business bailouts. We must also do what no politician or pundit has proposed: America should declare bankruptcy, default on its debts, and reform our system from the ground up.

Persuasively argued and provocative, The Real Crash explains how we got into this mess, how we might get out of it, and what happens if we don’t. And, with wisdom born from having predicted the Crash of 2008, Peter Schiff explains how to protect yourself, your family, your money, and your country against what he predicts.

©2012 Peter Schiff (P)2012 Macmillan Audio

You aren't listening to the book for the narrator.

Would you recommend this book to a friend? Why or why not?

I would but as a book not an audio book. Schiff made several interesting observations and has what I would consider sound investing advice that is widely agreed on. He advocates investing for cash flow, compound interest, etc. I would recommend it while advising not to take everything Schiff says at the gospel truth and to read the actual book because the narrator is terrible. As sound as Schiff's investing for cash flow instead of capital gains advice is, he suggests we should legalize prostitution, abolish the income tax and minimum wage. He knows more about the income tax and minimum wage than I do, he may bet right. I rarely say someone has a stupid idea but legalizing prostitution is STUPID. There's no other word for it. Every reason Schiff advocates for legalizing prostitution (healthier, less abused prostitutes, fewer arrests, tax revenue) is completely untrue as study after study have proven. The idea is so ridiculous, irresponsible, inconsiderate, uninformed and maybe even sexist it makes me question everything else Schiff says.

What was one of the most memorable moments of The Real Crash?

Schiff writes that Warren Buffett plays politics. When Wyman reads it he sounds disgusted, and makes it seem as though Schiff is a hateful, jealous wine-bag.

Would you be willing to try another one of Oliver Wyman’s performances?

No. He's terrible. His performance sounds like a 12 hour complaint. It is so bad that one must have an IQ above 120 or maturity level of a wise man to block it out and listen to Schiff's ideas for what they were and not as a list of complaints.

always a pleasure to listen to Peter.

Peter is one of my favorite authors and I enjoy listening to his insight and practical advice. it is hard to come by people like him genuine and knowledgeable. I highly recommend his books to all.

This Book is Brilliant

Would you listen to The Real Crash again? Why?

No, but I will definitely read the paper book and make notes.

What was the most compelling aspect of this narrative?

It is an eye-opening education that you will find almost nowhere else.

Did the narration match the pace of the story?

Too bad the question doesn't match the context of the book. There is no story. But the narration is not very good. Technically, the voice over work is not bad in terms of sound recording, but the pacing and affectation are all over the place as if there was no director or adult supervision in the recording sessions. It's really too bad Schiff didn't bother to record this himself. He has countless hours of media experience, and it would have been an outstanding product in his own voice.

If you could give The Real Crash a new subtitle, what would it be?

Read this while you still can.

Any additional comments?

Read this while you still can.

It's about time!

Finally! I rarely write reviews but this one is well worth it. I have read many books on the economy and this is the most informative one of them all. Schiff, combines and defends all the pros of the Austrian economists and shows how the Marxist and Keynesians will fail. He, as far as I know, is the only one who swam against the stream and predicted the housing collapse with his logic. Now he is predicting a future government-fiat money collapse using the same reasoning. He also gives specific ideas on how to protect yourself. This may be the only author that I agree with 100 percent. The reader was perfect for the task. Excellent!

Great start, preachy finish.

Would you say that listening to this book was time well-spent? Why or why not?

The first half was very interesting and a great summary of recent financial history. The 2nd half...meh, too political and preachy for my liking.

Any additional comments?

Still worth a listen.

Great listen

It seems Schiff predictions were right on point. The crash is coming and the longer it is put off the worse it will be. Great advice.

What We Need to Hear

Where does The Real Crash rank among all the audiobooks you’ve listened to so far?

The Real Crash is one of the best economic books I have listened to. The topic is current and will stay current until one of two things happen: We address the problems discussed with solutions that are suggested, or We Crash.

What did you like best about this story?

Peter Schiff does not just lay blame on players in our economic crisis. He offers real understandings and real solutions that if we are honest with ourselves, we know we must do.

Even better, he offers a series of solutions that might be described as good, better and best. That is something politicians stay as far from as possible.

Schiff, on the other hand, speaks clearly and concisely. He will not be backtracking from his statements in the future because he knows how things work and more importantly why they work in our economy.

Was this a book you wanted to listen to all in one sitting?

This book was compelling enough to listen to as quickly as I could. There are sections I even repeated, taking notes, and making investment plans for the future.

Any additional comments?

This book should be required reading or listening for any candidate you are considering voting for in the upcoming elections.

As we seem to be compounding our mistakes, if even a few officials begin to realize the truth included in this book, we could probably not avoid the coming crash, but we could minimalize it's impact on America, and come out stronger in the long run.

looking forward to the updated version excellent

Looking forward to the updated version. Excellent! I am also interested in other titles mentioned in this book. Thank you for your insight.

Excellent book by Peter Schiff!

Peter has a knack for explaining difficult concepts with ease. I read a lot of books and this one just landed in my top 10. Highly recommended!

Purely Shiff

This book was great, wish he would married but the information and information was top noch. worth the time to listing to it .