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The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country | [Peter Schiff]

The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country

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.
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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

What Members Say

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4.1 (256 )
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  •  
    Graham Los Angeles, CA, United States 06-02-12
    Graham Los Angeles, CA, United States 06-02-12 Member Since 2006
    HELPFUL VOTES
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    "Great First Chapters, Disappointing Follow-Through"
    Any additional comments?

    Perter Schilff makes a bold and interesting argument that America is past the point of no return being overburdened with dept and has a bloated expensive government. In the first couple of chapters he lays out his argument that the 2008 dept crisis was just the overture to a more catastrophic collapse yet to come. He rails on the Federal Reserve???s quantitative easing, explores the depth of the dept problems and argues that fiat currencies are destined to fail. However, the problem with this book is that this argument is fully described and reiterated two or three times by the end of the first hour and a half. For the next 11 and a half hours he argues about anything and everything he thinks is wrong with America. This includes such matters as illegal immigration, gay marriage, and problems he had with the government involving his brokerage firm.

    Some of his arguments border on ridiculous, such as that the IRS has never had a right to levy income taxes on individuals because the definition as defined by a court decision a hundred years ago of income is something that only applies to corporations.

    Some of his arguments I enjoyed such as his explanation and critical viewpoints on the Federal Reserve. Making the argument that it was never intended to be a source bail-out schemes, or to print money. However this book is defiantly not worth the credit I spent on it. You may like this book if you are politically very conservative. He supports the ideas of both Herman Cain and Ron Paul, supports reducing taxes and the size of government, but be careful because he also wants to legalize heroine and prostitution. If, like me, you are more interested in the policies that directly relate the current dept crisis such as a critical discussion of the Federal Reserve you should listen to Currency Wars by James Rickards.

    4 of 11 people found this review helpful
  •  
    Ara Cresskill, NJ, United States 06-02-12
    Ara Cresskill, NJ, United States 06-02-12 Member Since 2010
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    "Peter Schiff....IS STILL RIGHT!"
    Where does The Real Crash rank among all the audiobooks you’ve listened to so far?

    Peter Schiff....IS STILL RIGHT!


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

    Peter Schiff....IS STILL RIGHT!


    Which scene was your favorite?

    Peter Schiff....IS STILL RIGHT!


    Did you have an extreme reaction to this book? Did it make you laugh or cry?

    Peter Schiff....IS STILL RIGHT!


    Any additional comments?

    Peter Schiff....IS STILL RIGHT!

    4 of 15 people found this review helpful
  •  
    Harry Jones Weatherford, TX USA 06-13-12
    Harry Jones Weatherford, TX USA 06-13-12 Member Since 2003
    HELPFUL VOTES
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    "Right-Wing Erotica"
    What could have made this a 4 or 5-star listening experience for you?

    "Deregulate everything and the economy will fix itself", this is the theme of this overly simplified solution to our floundering economy. Save your money and just watch FOX News for 13 hours.


    5 of 19 people found this review helpful
  •  
    06-13-12
    06-13-12 Member Since 2005
    HELPFUL VOTES
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    "conservative claptrap"
    What would have made The Real Crash better?

    The author offers a vivid description of the problem but then regurgitates conventional "Fox News" nonsense for the "solution".

    Don't waste your time.


    4 of 17 people found this review helpful
  •  
    michael RICHMOND, CA, United States 09-12-13
    michael RICHMOND, CA, United States 09-12-13 Member Since 2012
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    "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.

    0 of 2 people found this review helpful
  •  
    Behrooz BLUE BELL, PA, United States 06-30-12
    Behrooz BLUE BELL, PA, United States 06-30-12
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    "Not a reliable and informative book"
    What disappointed you about The Real Crash?

    The author selected and provided the data which benefit his theory, and intentionally ignored some other data. For example, he didn't say the current rich taxes are amount the lowest in the past 50-100 years. Let me add that I think he might be right on the future, but he is wrong about the reasons. Also, he completely ignored pollution, global warming (even the possibility of the global warming), etc. As an example, if the rich uses oil or cool to produce energy, the emitted CO2 would cause cancer. Why the poor should pay for his/her cancer, when possibly rich causes it? Or and the end, he said he likes countries like Australia and Norway. He didn't say about the health care or educational system in those countries.At the end, I should say that I'm not a socialist.


    What do you think your next listen will be?

    The Aftershock Investor: A Crash Course in Staying Afloat in a Sinking Economy


    Any additional comments?

    Some of his suggestions are valuable, I think. For example, the quality of most public schools are not good, or not anyone is suitable to go to a university. Also his suggestion on adding competition to public schools are useful.

    2 of 10 people found this review helpful
  •  
    John Fort Myers, FL, United States 06-18-12
    John Fort Myers, FL, United States 06-18-12 Member Since 2008

    Love detailed history written in as unbiased a manner as is possible. My passion has always been American History but I also enjoy world history.

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    "Podium for Peter Schiff mixed with some ideas"
    What disappointed you about The Real Crash?

    Biased presentation of factual things really insulted my intelligence.


    What do you think your next listen will be?

    Not Peter Schiff material.


    What didn’t you like about Oliver Wyman’s performance?

    It was acceptable


    What reaction did this book spark in you? Anger, sadness, disappointment?

    Disappointed that I did not get information that was promised in the promo.


    Any additional comments?

    Very disappointed to waste my money on this.

    2 of 10 people found this review helpful
  •  
    Timothy Greenwood Lake, New York, United States 06-10-12
    Timothy Greenwood Lake, New York, United States 06-10-12 Member Since 2012
    HELPFUL VOTES
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    "Conservative Nonsense!"
    What disappointed you about The Real Crash?

    The book is biased. Conservative slant on everything. Half-truths and incomplete information. The coming bankruptcy of the federal govt. is an interesting topic, but the author belongs on Fox News. I am asking Audible to exchange this book. I wasted this month's credit on it.


    3 of 19 people found this review helpful
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