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Customer Review

on 3 September 2011
First off I declare I have been a fan of John Mauldin's e-mail newsletters for several years now. He carries his highly accessible converstational but fabulously well informed style across into this book. Many of the themes he has been writing about for some time are developed in depth in this superb work. I am no investor but am keenly interested in understanding the bigger picture of what is going on around me. While the newsletters can be shocking in their perspicacity this book left me feelling very scared about what the future may hold for those of us in the developed western economies, the UK in particular. That said, the chapters on the eurozone, especially regarding the financial status of Greece had me laughing out loud in incredulity.
Mauldin does not appear to be persuing any party agenda though I suspect if he is inclined to vote it would be republican. He reserves his criticism for big government per se and the amazing position our latest generation of politicians have landed us in. The capacity of our leaders to delude themselves that this time they have engineered a new solution to the old issue of spend and borrow is made out in the other book I bought 'This time is different' by Reinhart and Rogoff. Mauldin takes this very well made spring board and uses it to launch into his own thesis.
Thankfully the last chapter, as with all good horrors, ends on an optimistic note. The amazing geo political advantages and vibrancy of the USA will doubtless revive once the smothering blanket of big government is lifted from it sufficiently. This can only be good for all of us. Where Europe is likely to be when my kids are entering the job market is left a little more hazy.
In short this is not an economics book that closes anyone out by being overly noodly with figures. Any economic concepts are well explained. It will certainly assist anyone with a will to get a better grasp of the reasons why we are where we are economically to achieve that aim. It is a book that should be read by all politicians and indeed anyone who has an inclination to vote. It could just lead to us asking the right questions of those who seek to have power of the economic futures of us all. It will certainly dispel any remaining dreams anyone may have that we can somehow vote ourselves better off or borrow our way out of debt.
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