The Great Depression of Debt Survival Techniques for Every Investor
This book takes a close look at today’s economy and offers a bleak prediction for its future. However, those positioned to handle dramatic shifts in consumer spending, the mortgage industry, and the stock market are at a great advantage.
Author Warren Brussee offers insight into the coming economic situation and provides steps to prepare for it. For example, he recommends that savings be in Treasury Inflation Protected Securities until the stock market drops 73% from its 2004 level. Methods of determining when the stock market is again a good buy are defined, and different investment options are evaluated. Even during a depression, people will need to save for their future, and Brussee provides detailed charts that show retirement savings requirements.
User Ratings and Reviews
3 Stars Very Prophetic Guy, but his Bond advice not so hot
The book was spot on regarding the current stock market meltdown. However, his advice to buy Treasury Inflation Protected Securities instead of stocks has not proven correct. So far his advice to buy TIPS has produced poor- in fact negativeinvestment results. And if there is in fact a deflationary period ahead, taking his advice on TIPS may end up costing you as much as listening to that moron Jim Cramer who told us to buy Google at 800, FCX at 80, COG at 40, and other HORRIBLE picks. But at least he correctly saw the current stock market meltdown, something all the cnbc experts didn’t. Good book.[..]
2 Stars Interesting book, but should have been half the length
This book provided some interesting ideas about the future of the stock market. How much of it is valid, though? I have to admit that even with the stock market plummeting over the past two weeks, I still think this book’s premise is a little shaky. After all, the author discounts other books that attempt to predict where the indices should be and claims they’re simply data mining or are based on flawed concepts. In this book, the author tells a good story, but I’m not wholly convinced it’s anything more than data mining with a good story.
The second half of the book is unbearable, and I’m a guy who loves to analyze investments and do what-if calculations. It’s filled with table after table, with repetitive information in between each set of tables. Why didn’t the author keep the chapters simple and put the tables in an appendix?
This book is in its second edition. I didn’t read the first edition, but as the author claims in the introduction, the second edition contains the first edition text with second edition updates following each chapter. What’s really disappointing is the minimal amount of content in these “updates.” The charts aren’t updated, the tables aren’t updated, and the author doesn’t even provide new sets of numbers in most cases. If I had purchased the first edition and then bought this one for an update, I would have been very unhappy.
The book also suffers from HORRIBLE grammar. When describing changes to the second edition, the author says the first edition text has been corrected for grammar. I shudder to think about how poorly written the first edition must have been. (Or should I say that I shutter to think what the affect of the writing in the first addition would have had on me. In the author’s credit, though, the primary grammatical error is using affect to describe effects.)
I might have given this book four stars if it had been more carefully written, concise, and been more than just a simple story with a bunch of data mining. Moving the tables to the appendix would have helped, too. As it actual is, though, I give it two stars. It has some interesting parts, but a lot of it is a lot of content for only a little value. Grab the book from the library and save your money for the depression it says is coming.
5 Stars Quite interesting, I like the format, alarmingly accurate.
With all of the doom and gloom in our financial markets, I wanted to take in a few authors opinions and try and come to my own conclusion. (Cramer is not my fortune teller) With that said, the author lays out a lot of the structural problems in the financial industry and predicts what he think will become of it. He has updated the original version to include some of the latest information as well gloat (rightfully so) over being right on about 80% of his predictions.
The more I read the book and realize that this guy has been quite accurate, the more I realize how dire our financial system is and how close to collapse we are. I applaud the author for his predictions but am not happy with his predictions for the future. So far, the best and most accurate doom and gloom book I’ve read.
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