Crash-proof: How to Profit from the Coming Economic Collapse: Amazon.co.uk: Peter D. Schiff, John Downes: Books

Product Description

The economic tipping point for the United States is no longer theoretical. It is a reality today. The country has gone from the world′s largest creditor to its greatest debtor; the value of the dollar is sinking; domestic manufacturing is winding down – and these trends don′t seem to be slowing. Peter Schiff casts a sharp, clear–sighted eye on these factors and explains what the possible effects may be and how investors can protect themselves. For more than a decade, Schiff has not only observed the U.S. economy, but also helped his clients reposition their portfolios to reflect his outlook. What he sees is a nation facing an economic storm brought on by growing federal, personal, and corporate debt, too–little savings, a declining dollar, and lack of domestic manufacturing.
Crash–Proof is an informed and informative warning of a looming period marked by sizeable tax hikes, loss of retirement benefits, double digit inflation, even – as happened recently in Argentina – the possible collapse of the middle class. However, Schiff does have a survival plan that can provide the protection that readers will need in the coming years.

From the Inside Flap

From both an economic and monetary perspective, the United States is a house of cards—impressive on the outside, but a disaster waiting to happen beneath the surface. In a relatively short period of time, the country has gone from the world′s largest creditor to its greatest debtor; the value of the dollar has declined; and domestic manufacturing has given way to non–exportable services. While these and other issues could potentially spell disaster for your financial well–being, the situation could also present unique opportunities—if you′re prepared.

For more than a decade, seasoned Wall Street prognosticator Peter Schiff has not only observed the U.S. economy, but also helped his clients restructure their portfolios to reflect his outlook. What he sees today is a nation facing an economic storm brought on by growing federal, personal, and corporate debt; too little savings; a declining dollar; and lack of domestic manufacturing.

Now, in Crash Proof, Schiff provides you with an insightful examination of the structural weaknesses underlying this impending economic meltdown, and discusses the measures you can take to protect yourself—as well as profit—during the difficult times that lie ahead. Using common–sense analysis, creative analogies, and easy–to–understand language, Schiff entertains as well as educates. While Schiff carefully details the grave economic forces pushing the United States closer to the edge, he also outlines a specific three–step plan that will allow you to preserve wealth and protect the purchasing power of the savings you have worked a lifetime to accumulate.

Step #1: Rethinking Your Stock Portfolio: shows you exactly how to replace your endangered U.S. dollar holdings with a portfolio of foreign securities that are safer, significantly higher yielding, and appropriate for any investment objectives

Step #2: Gold Rush: examines the various ways you can capitalize on the bull market in gold, as well as silver, and explains how these precious metals can add both safety and exciting growth potential to a conservative foreign stock portfolio

Step #3: Stay Liquid: discusses the importance of liquidity in times of financial uncertainty—from having enough money for living expenses to keeping a reserve of uncommitted cash that can be used to acquire assets at bargain prices

Investing using conventional wisdom will not work during times of financial distress. That′s why Crash Proof has taken the reality of today′s economic situation into account as it offers you guidance. Filled with in–depth insights and expert advice, Crash Proof will help you survive and thrive during the coming years of economic uncertainty.

See all Product Description

Customer Reviews

5 star

4 star

3 star

2 star

1 star

4 reviews

4.8 out of 5 stars

Write a customer review

Most Helpful Customer Reviews

14 of 15 people found the following review helpful

Gloomy forecaster offers a bright economic alterative 15 Aug 2008

By Rolf Dobelli TOP 500 REVIEWER

Format:Hardcover

Contrarian investor Peter D. Schiff isn't just a bear. He's a sky-is-falling, bury-the-Krugerrands-in-the-backyard bear. Writing with John Downes, Schiff argues that the U.S. economy is going to hell, and that clueless consumers, opportunistic Wall Streeters and pandering politicians are carrying the handbasket. Schiff's screeching tone is a bit grating - until you realize that many of his predictions have proven accurate. That doesn't mean you shouldn't take him with a grain of salt, but this book was published in 2007, and in mid-2008, Schiff's forecasts of a weakening dollar, rising gold prices, a bursting real-estate bubble and strong foreign stock markets were spot-on. His pessimistic polemic could use more practical advice and less macroeconomic analysis, but still getAbstract recommends it to those who seek an alternative viewpoint.

Comment |

Was this review helpful to you?

Yes

13 of 14 people found the following review helpful

great book 24 Oct 2008

By Sanni Abrim

At the very least, after reading Crash Proof, you will view economics in a refreshingly practical, non-conventional way. Mr. Schiff has a gift of breaking down complex financial information into language the common person can understand. Even more importantly, he exposes the smoke and mirror approach that's so prevalent with economists and cable news financial analysts. The view behind the curtain is very disturbing, to say the least.

keep in mind, NO book can provide a magic bullet. No human can predict the future. But this one is as close as it gets.

2 of 2 people found the following review helpful

Vital information - but now out of date. 21 July 2009

By C. Cook

In this book, Peter Schiff concisely describes America's financial meltdown. Much of what he wrote in 2006 has already happened. It's a good read and gives a real understanding of the sub prime debacle. But the information on crash proofing yourself is in need of updating due to economic changes in the world. I would suggest reading his newer book for those. This is still a great book!