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Publisher's Summary

A Wall Street Journal and national best seller!

The man who predicted the worst economic crisis in US history shows you how to survive it.

The current crisis is not like 2008 or even 1929. The New Depression that has emerged from the COVID pandemic is the worst economic crisis in US history. Most fired employees will remain redundant. Bankruptcies will be common, and banks will buckle under the weight of bad debts. Deflation, debt, and demography will wreck any chance of recovery, and social disorder will follow closely on the heels of market chaos. The happy talk from Wall Street and the White House is an illusion. The worst is yet to come. 

But for knowledgeable investors, all hope is not lost. 

In The New Great Depression, James Rickards, New York Times best-selling author of Aftermath and The New Case for Gold, pulls back the curtain to reveal the true risks to our financial system and what savvy investors can do to survive - even prosper - during a time of unrivaled turbulence. Drawing on historical case studies, monetary theory, and behind-the-scenes access to the halls of power, Rickards shines a clarifying light on the events taking place, so investors understand what's really happening and what they can do about it.

A must-listen for any fans of Rickards and for investors everywhere who want to understand how to preserve their wealth during the worst economic crisis in US history.

©2020 James Rickards (P)2020 Penguin Audio

What listeners say about The New Great Depression

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In short

In short, the stock market hasn't bottomed, the fed is out of options, and buy gold now because it's going to 10K; then after that, buy cheap real estate because that market is going to crash too.

22 people found this helpful

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Hearsay

This book is full of hearsay. The author claims to know what he’s talking about, but just simply regurgitates what’s in the mass media.

12 people found this helpful

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Current information

Lots of difficult to grasp terms that aren't explained. Every book by Rickards demands listening to several times and the use of a dictionary to grasp what he is talking about. His examples are mostly good and easy to follow. This book compared how FDR used gold to create gradual inflation and lift the US out of the Great Depression in 1933. His supposition is a similar process may be needed to get the US out of its current situation. Otherwise, all the money printing and government handouts won't help and Globalization has fueled deflation, so even though the government has mandated the banks to stimulate inflation the public won't be inclined to borrow money or spend until full employment and consumer confidence rebounds.

9 people found this helpful

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Great insight!

It’s not about left or right. It’s about setting yourself and love ones up for success in a post pandemic depression environment. Knowledge is power.

7 people found this helpful

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Awesome economic analysis

Fantastic actionable economic analysis. Lots of actionable investment ideas in the later third of the book.

If you are an active investor this is a must read. If you’re not an active investor Jim will convince you to become one here.

6 people found this helpful

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The new Great Depression review

This book gives a history lesson on the pandemic barely touches on how to navigate and manage your finances through the poast pandemic world.

6 people found this helpful

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Little Care for Human Life

Honestly, this would have been a good listen but I was immediately turned off by the naiveity of the author on how to contain a pandemic. He claims he "is well versed on the subject (which isn't true in the slightest given that most experts are still learning about Covid!)," which therefore makes his opinion on pandemic policy above that of epidemiologists, clinicians and so forth (suprise, lockdown, social distancing throw all that out the window!) It is clear he is definitely knowledgable in economics and policy, but his take on pandemic policy should only be treated as opinion and not as FACT as the author attempts to portay.

4 people found this helpful

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Another great book

Another insightful and enjoyable book from James Rickards. If this is the first time you’ve come across this author, then go for it, it’ll only want to make you read the rest! The topic is not one of joy and prosperity, but it is one of reality! Rickards gets to the point which I feel most commentators or authors are afraid of today, especially on this topic. This is not a political review of the Covid-19 pandemic or how it was handled by the US and every other nation, but does an excellent job of describing those actions and the consequences on the economy.

We know the economy isn’t doing well, we all feel it, but understanding why is the key, and this book does a good job of explaining the details. Rickards knows what he talking about and isn’t afraid to say it as it is, there is no agenda here. If you are looking for an insightful view on the last year and how you may preserve wealth going forward then read this book.

3 people found this helpful

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Nothing more compelling than author's own voice!

Like frogs in a pot of water just warming up, unless you jump, you will surely die. Reality matters more than perception in the end. Rickard provides the framework for you to understand and take action.

2 people found this helpful

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From the guy that thought Trump would be reelected

I like Jim Rickards, and I found his advice towards the end of the book helpful, but he spent too much time showing his partisanship and pretending to be a virologist. He had no humility when talking about Covid 19.

2 people found this helpful

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  • ENI STEPHEN
  • 01-14-21

Nothing much new here

This is a bland take by Jim Rickards. If you've followed his previous works, this is underwhelming. However, if it's your first Rickards book, you may find it useful.

2 people found this helpful

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  • Oliver Bale
  • 01-26-21

Not worth the read

Jims covid analysis is shallow, leaving questions and the rest doesn't add much worth reading

1 person found this helpful

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  • Surrey
  • 01-14-21

Gold bullion coins and bars.

I feel sorry for every family that doesn't own gold right now. without gold in one's portfolio is asking begging to become destitute in the coming months/years.

1 person found this helpful

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  • G.eatock
  • 02-24-21

Dissapointing

A Boring badly put together depressing read , and too much centered on the cv19 virus. If I wanted to read about the virus I would have looked to an expert. But this was used as a filler to make the book longer in my opinion. Never again read anything from this guy .

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  • Chrissy
  • 02-22-21

Well at least an opinion

In parts good. Not so sure if an economist should do epidemiology, especially one that protests that epidemiologists shouldn't do economy. Forgot to mention crypto as an asset class, even if he would reject it. Very America centred. Written before Nov 2020. A book to early.

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  • Anonymous User
  • 02-17-21

The investing tips for the next 1-5 years

The investing tips for the next 1-5 years planned in. Very clear for anyone looking to know how the financials world works. Thanks James.

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  • Rita Roo
  • 02-13-21

Superb.

Engrossed from start to finish. So nice to have recent events laid out and explanations as to how we got here and risks and opportunities that may lie ahead.

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  • Sarah P.
  • 02-13-21

Covid and Economics

Eye opening and for our times. Clear and concise. A explanation of what's to come.

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  • Anonymous User
  • 02-11-21

Absolute rubbish avoid at all cost

Neo con libertarian propoganda....worse than bad, pure nonsense from start to finish....very dangerous book as sounds academic enough but very economical with any other views !!!!! AVOID AVOID AVOID

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  • Warren Turner
  • 01-31-21

talks like Trump no real facts

Sorry but Jim has lost the plot. The problem is he knows nothing about pandemics. you may as well listen to someone down the pub.

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  • Justin Cox
  • 01-14-21

Greatful for this insight

Great audio book listened to it straight through. I'm grateful to have access to James's insight to the pandemic and the state of the economy... I'm a big fan of all of his other books and they are helping me make better financial decisions.

Thank you

1 person found this helpful

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  • J. Jay
  • 02-26-21

Truly Enlightening. A brilliant write up!!

Absolutely enlightening especially for the ill informed, ignorant and misguided. A crash course into various financial instruments of the powerful and connected.

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  • Anonymous User
  • 02-13-21

Most important socioeconomic book of 21'

Clear, concise, sobering.
Mr. Rickards does a fantastic job of linking the socio-economic, virological and political aspects of the Covid 19 pandemic with the backstop policy addiction by nation states of modern monetary theory.
literally read the whole book in one day, about to read it again.

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  • Michael
  • 02-07-21

Some credibility but not a lot

The first chapter is very patriotic but the author had preconceived conclusions and scoured the internet very selectively for "evidence" supporting his view. His comments on finance sound more convincing but, in my view, credibility is undermined by the early part of the book.

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  • Anonymous User
  • 02-05-21

Great Book

I've read a listened to most of Jim's books and they are all full of info and amazing foresight.

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  • Anonymous User
  • 02-03-21

calm sensible analysis. a look into the future.

loved it well written and read. calm sensible analysis. a look into the future.

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  • Mark
  • 01-26-21

Excellent and well researched prognosis

Rickards has produced an engaging and well-researched analysis of what may well lie ahead post pandemic (and why). History sure is a great teacher.

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  • Anonymous User
  • 01-25-21

Insightful and Powerful Knowledge

Fantastic book by Jim Rickards, so insightful and provides powerful knowledge for the current and coming economic world.

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  • Anonymous User
  • 01-19-21

A must listen

Jim covers both the pandemic and its effects , along with his strong predictions and possible solutions.
He’s mathematical, practical and a wealth of knowledge, historical to present . He explains everything in simple terms that just all adds up and makes sense .


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  • Icarus
  • 01-16-21

Provides very sound advice; highly recommended!

This my second book of Rickards' after Currency Wars. I found myself taking notes throughout all of the chapters.

In short, I really appreciated a deeper drive into the Spanish Flu, in order to better explain our present and likely future. The investment advice towards the end of the book was also great. He touched upon the sort of models use, and what these models are saying. In the book, it was predicted that gold prices would currently be around US$2500 per ounce, though they are currently at US$1800; might be a good time to buy!

I highly recommend listening to this!