The Real Crash Hardcover – May 22 2012
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“Peter Schiff sounded the alarm about the housing bubble created by the Federal Reserve and predicted the bubble's inevitable collapse, yet he was ignored by mainstream economists and ridiculed by the media. In The Real Crash he is at it again, illustrating how the financial crisis of 2008 is nothing compared to what is coming down the road. Peter Schiff is right again. I hope more people listen this time.” ―Ron Paul; Congressman (TX-14) and three time Presidential Candidate
“Peter Schiff's new book "The Real Crash; America's Coming Bankruptcy" is written in the same blunt and punchy style that makes him a favorite guest on my Fox News show. It's not just what he says, but the fact that he lives what he says. Unlike Some authors who talk about business as spectators, Peter doesn't speak from the ivory tower of academia or from the comfort of an anchor chair. He runs a real business and fights every day to make it a success in spite of all the government's tax and regulatory policies.” ―Mike Huckabee; Host of The Huckabee Show and former Arkansas Governor and Presidential Candidate
“America's political leaders should have taken Peter's 2007 book, Crash Proof, to heart before they tried to borrow, print and bail us out of trouble. Today, they -- along with all Americans -- absolutely must take heed of The Real Crash. Peter Schiff understands the marketplace, and he understands the consequences that occur when government attempts to manage that marketplace. Pay attention, America!” ―Gary Johnson, Former governor of New Mexico and presidential candidate
“In ‘The Real Crash,' the fearless Peter Schiff has written the most compelling argument against central economic planning and debt-financed consumption to come along since our present woes were exacerbated in 2008. His explanations of how unfettered free choices will produce prosperity, and how ending the Federal Reserve, abolishing the IRS, and returning to the gold standard will tame the federal beast are among the most forceful and cogent I have seen. He even explains how anyone can prosper from government stupidity in these perilous times. And he does all this in a breezy and readable format.” ―Judge Andrew P. Napolitano, Senior Judicial Analyst, Fox News
“Peter Schiff is an original thinker, a man of startling insight and honesty, in many ways, a genius. I have learned that you disagree with him at your peril. He is one of the few men of finance of whom I wish I could say I had paid more attention to. Live and learn. Read and learn.” ―Ben Stein; author, actor, political and economic commentator
“Peter Schiff says the Fed's bubble machine is destroying the American economy and he is right. Zero interest rates and QE are crushing savers, rewarding speculators and enabling the Washington politicians to issue endless debt. Every concerned citizen should read this.” ―David Stockman; Former OMB director under President Ronald Reagan
“Peter Schiff has been painfully right about the downward spiral of the U.S. economy over the last four years. Easy money, rising tax rates, and unbridled debt are a prescription for economic disaster. Let's hope Barack Obama reads this.” ―Stephen Moore, Economist and Fox News commentator
“While many of us have justifiably focused on how high taxes are economically corrosive, Peter Schiff does a great job of explaining why government spending and debt are even worse. As we continue grappling with the monster of a runaway federal government, this book is one of the best assets conservatives can turn to in making the case for fiscal responsibility and capitalism.” ―Grover Glenn Norquist; President of Americans for Tax Reform
“Peter Schiff was one of the few pundits who predicted correctly the 2008 economic and financial collapse. Now, he makes a compelling case in a highly readable book that the day will come when the world stops trusting the dollar and the ability of the US government to pay its debts. I agree with him that 'Then we'll get the real crash'.” ―Marc Faber; Editor, The Gloom Boom & Doom Report
“You need to know his case whether he is right or not if you are going to be prepared for this decade.” ―Jim Rogers; Investor and Bestselling Author of "A Gift to My Children" and "Investment Biker"
About the Author
PETER D. SCHIFF is an American investment broker, author, and financial commentator, and was a candidate in the 2010 Republican primary for the United States Senate seat from Connecticut. He frequently appears as a guest on CNBC and Fox News, and is the host of the radio show and podcast The Peter Schiff Show.He is the author of the New York Times bestselling Crash Proof and Crash Proof 2.0, as well as The Little Book of Bull Moves in Bear Markets, which was also a Business Week bestseller.See all Product Description
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Top Customer Reviews
The main argument: Since the housing and financial crash of 2008, America's recovery has been tepid at best. Unemployment has remained high; manufacturing has not returned; personal savings are as low as they've ever been, and personal debt as high; housing is still a mess, and banking not much better; and, to top it all off, government debt is awe-inspiring and seems completely insoluble. According to financial investor, commentator and author Peter Schiff, while all of this is certainly disheartening, it should not come as much of a surprise. Indeed, Schiff argues that all of this economic slumping is a natural result of America's misguided economic policies; including especially the Federal Reserve's manipulation of interest rates, the government's uncontrollable borrowing, and, in connection with this, the maintaining (and even expansion) of unsustainable social programs . For Schiff, these same policies led directly to the crash of '08 (which he correctly and very famously predicted), and are leading the U.S. directly into an even worse crash now. In his new book `The Real Crash: America's Coming Bankruptcy--how to Save Yourself and Your Country' Schiff outlines how America got itself into this mess in the first place, what the end game is likely to be, and what the nation and its citizens should do to make the coming unpleasantness the least unpleasant as possible.
The main problem--and where most of the other problems begin--according to Schiff, is the Fed's manipulation of interest rates.Read more ›
He who promises the most free stuff gets elected. Bailing out the banks and huge corporations, causing the dollar to lose value and eventually cause hyperinflation, destroying the possibility of a comfortable retirement ... that's the policy of the current administration.
I suppose I would need to buy his previous book, Crash Proof 2.0, for a more in depth explanation on how to save myself.
In the process of criticizing the American economic system, Peter Schiff brings his readers into the fascinating world of macroeconomics, policymaking, the history of money and the rise and upcoming fall of what used to be the richest country in the world. I personally learned a lot and I took a real pleasure in reading this book. Plus, Peter Shiff writes in simple terms, which makes the book accessible to most people.
However, Peter Schiff has his own ideas about how to fix the economy. He his extremely libertarian and anti-keynesian. He refutes any involvement from Government in citizens’ lives and firmly believes in the privatization of every sector of the economy, including social security, retirement, health care and education (traditionally run and funded by the public sector in order to ensure a fair redistribution of wealth and opportunities).
Consequently, the book is filled with very right-winged reform proposals, like the abolition of the income tax and the welfare state, the legalization of drugs and prostitution, and the annulment of public education, public pension plans, medicare and government subsidies.
The author is a complete free-market utopian, so some readers may be shocked by several of his arguments. However he’s also right about a lot of things (America going bankrupt, government intrusion into a market compromising the laws of supply and demand, the upcoming government bubble, the negative impact of inflationist monetary policies, the explosion of U.S. national debt, etc).
Finally, the author also gives some investment advice, in order to help the readers protect their wealth under the current financial and economic uncertainty.
Overall, good book, but when you’re done, take some distance and use the knowledge provided to construct your own opinions.
That said, this is not a particularly useful or well-written book. The main problem is that the book has a lot more to do with Peter Schiff than his ideas ("I think this... I said that...) If the use of first-person narrative is not acceptable in 7th-grade English essays, it shouldn't be acceptable when making such broad assertions of this quasi-science of economics and public policy. Of course, this is not an academic text, but what the author doesn't seem to know or care about is that the standard for truth and persuasion is much higher in print than on the radio or when making a speach. The entire book seems like little more than a transcription of his various speaches or radio rants. Each chapter is composed of subtitles and about 300 words of text. Maybe it's too hard sustaining an argument any longer without numbers to back it up.
Interestingly, you will not find any mention of an editor on the cover, title page or anywhere else. The reason, most likely, is that an editor would have stopped the author and insisted he provide some evidence, some statistics, or 3rd-party research to validate his plethora of unsubstantiated assertions. In a 300 page book on economics, there is not one chart to be found.
The book is disappointing, but it's not trivial. Mr. Schiff is a wealthy and insightful investor who can be an effective speaker, but he's unlikely to persuade many in mainstream society until he becomes a more effective writer.
Most recent customer reviews
Peter Schiff tells it like it is and hopefully can open people's eyes to see how Governments are ripping us off and putting us deeper in debt through their insane economic policies... Read morePublished 2 months ago by Neil R. Richards
Product as described. Shipping longer than expected and cost a bit more than what I consider fair. Reasonable price.Published 4 months ago by Virginia
Another great book by the Schiff! Longer book, goes in details as per his thoughts on the economy. Read if interested in neo-liberal economic policies.Published 22 months ago by John Johnson
So far so good, still working on the book so I cant give a full review as of yet. But from what I have read thus far it looks pretty good.
Great ideas ,some not possible to implement . I think he is spot on with the debt issues and the USA is in deep trouble when the printing(currency) bubble does burst.Published on May 23 2014 by Northern Man
Politicians, the ones who should know this stuff, should be made to study this story as it outlines how the USA & the world got so financially screwed up! Read morePublished on May 17 2014 by RW
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