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
not sure. i have two other books by Peter Schiff that i felt were very good. this one...not so good. i am pretty sure i will not purchase another book narrated by Oliver Wyman. His narration comes off as if he is reading to children or the coaxing of a small puppy to do the right thing.
nope..maybe further books by Peter Schiff
no character but i would cut his far right beliefs that attack seniors and people who live in poverty. Entitlement fraud costs us a lot less that what the financial professionals stoled when the housing bubble burst.
Does he really believe that any money the cuts he recommends will save will really help. I believe the CEOs will be the only ones that profit.
I wish that I had been exposed to some of these ideas about 15 years ago! Then I wouldn't have $50k+ student loan debt on my back...
Give this book to anyone looking to go to college, not knowing what they want a degree in. Better to not waste the money on a worthless degree and being stuck with tons of debt.
First let me say the inflection and emphasis the narrator uses made this very dificult to get through and actually made me keep having to remind myself to evaluate the content and not his smarmy sarcasm. On content, it seems like the author is not done crowing about how he saw the housing bubble for what it was and now wants to use that shop worn credibility to tell us how to fix virtually all of the economy. He stops short when taking on the massive expense and misuse of the military but all other institutions from Healthcare and education to the staples of taxes and Social Security. He shows the same pussyfooting lack of conviction on the military as most politicians do. All other government functions are fair game but not the military. For that we just need a few tweaks. I find myself agreeing with much of the assessment of the problems but the proposed plan to "fix" things is almost always either completely absurd or the chances of adoption are nihl. There is just no way what the author proposes will be adopted short of another revolution and a start from scratch. Some of his proposals are just bad all around like the total abolition of the FDA because it has many problems. Just abolish the whole agency because it drives up costs in drug development. He also ignores the human nature factor. Saying if you abolish employer health care will immediately cause employers to pass the savings on to their employees in cash right away is just ridiculous.
Not only did this book lay out the logical problems and consequences of current U.S. policy but it also provided logical unbiased solutions to thwart a coming financial collapse. I highly recommend this book. I wish it would have spent a little more time on what people can do as individuals to offset a financial collapse.
The book is really good and enlightening goes into quite some Deb on a number of real issues facing or country in society and economy the narration is overly smarmy and smug rather than a little bit more objective would have been much better
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.
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.
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.
The content of the book. Schiff gives a fantastic history of the economy/currency/taxation etc. and is able to break complicated material down for just about anybody to understand
The narrator might go a little overboard, but he is better than most. You don't get the sense that he's just reading words on paper like a lot of narrations. Read this book.
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.
Still worth a listen.
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!
Peter is strongly libertarian, but I found myself agreeing with much of what he had to say. As such, much of what he discusses has about as much chance of becoming real as an ice storm in July. There are some points however than can provide some food for discussion and at the present time neither of the major political parties seem to be able to do much more than yell at one another, and walk or chew gum. Maximum of two of the three.
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