Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown

( 108 )

Overview

Despite all-time highs in the stock market and a wideningnarrative that "the economy is improving," a critical analysis ofthe current situation leads to a far more disturbing conclusion.The same authors that correctly predicted the financial crisis of2008 and 2009 and foresaw the playbook that government leaders andthe Federal Reserve would use to re-inflate asset bubbles, havelaid out their vision of how the economic house of cards willcrumble. This fully updated third edition of Aftershock: ProtectYourself and ...

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Overview

Despite all-time highs in the stock market and a wideningnarrative that "the economy is improving," a critical analysis ofthe current situation leads to a far more disturbing conclusion.The same authors that correctly predicted the financial crisis of2008 and 2009 and foresaw the playbook that government leaders andthe Federal Reserve would use to re-inflate asset bubbles, havelaid out their vision of how the economic house of cards willcrumble. This fully updated third edition of Aftershock: ProtectYourself and Profit in the Next Global Financial Meltdownprovides readers with an insightful analysis of the economicdrivers that have created the illusion of a recovery and a falsesense of security among investors. The authors have correctlypredicted the path of the economy since before the global financialcrisis and now they see things ending badly in the very nearfuture. Are you prepared? Aftershock, Third Edition is yourmust-have investment guide for understanding what's reallyhappening in the global economy and how to protectyourself—and even profit—in the turbulent timesahead.

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Editorial Reviews

From the Publisher
"But as bitter as it is, 'Aftershock’s' message–that America has yet to pay its bills–deserves an audience. After all, the authors were right once before."
Michael Casey, MarketBeat, blogs.wsj.com/marketbeat, November 2009

" … surrounded as we are by growing talk of recovery and news about ‘green shoots,’ it’s still refreshing to consider the different perspective that Wiedemer, Wiedemer and Spitzer offer here."
Robert J. Hughes, Smart Money, December 2009

"Their scenario is dark, and their strategies bold and unconventional. But after being on target the last time they went against the grain, the Wiedemers merit being heard out." (The Associated Press, December 2009)

"This is a page turner, but it will be slow reading from the standpoint of having to constantly stop and make notes in the margin or pause to see how a particular point directly effects the reader’s own situation. Reading this book will make you aware of economics like you’ve never previously been aware."
James Holland, Basil & Spice, December 2009

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Product Details

  • ISBN-13: 9781118375624
  • Publisher: Wiley
  • Publication date: 3/31/2014
  • Edition number: 3
  • Pages: 384
  • Sales rank: 343,728
  • Product dimensions: 6.30 (w) x 9.00 (h) x 1.20 (d)

Meet the Author

David Wiedemer, Phd, is a world leader inmacro-evolutionary economic analysis. His work in informationdynamics, technological evolution, and economic history form thebasis for the predictions in Aftershock. Dr. Wiedemer is theChief Economist for Absolute Investment Management. He holds adoctorate in economics from the University ofWisconsin-Madison.

Robert A. Wiedemer is a Managing Director of AbsoluteInvestment Management, a macro-focused money management firm thatis in alignment with the macroeconomic analysis and perspective ofAftershock.

Cindy Spitzer is an award-winning author who hascollaborated on more than twenty books since 1993 includingChicken Soup for the Soul, Buy and Hold Is Dead (Again),America's Bubble Economy, and many others. She is President ofAftershock Consultants, a consulting firm that provides support andinsights to individuals, families, and businesses, based on theideas in Aftershock.

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Table of Contents

Executive Summary xi

Acknowledgments xiii

Preface to the Third Edition of Aftershock xv

Introduction: Your Guide to the Third Edition of Aftershockxix

Part 1 The Coming Aftershock 1

Chapter 1 This Recovery Is 100 Percent Fake 3

Isn’t a Fake Recovery Better than No Recovery at All?5

If the Aftershock Has Not Been Canceled, Why Hasn’t ItHappened Yet? 7

Still Not Sure This Recovery Is 100 Percent Fake? 17

Don’t Believe the Stimulus Has to Eventually End? There Isa Limit to What the Government Can Do 23

Wondering Why the Aftershock Hasn’t Happened Already?“Animal Spirits” Are Keeping Are Keeping Us Going24

Please Prepare Now 27

Chapter 2 America’s Bubble Economy 31

Because Our Earlier Books Were Right, Now You Can Be Right, Too36

Didn’t Other Bearish Analysts Get It Right, Too? 39

How the “Experts” Got It So Wrong 41

Predictions from Ben Bernanke and Henry Paulson—We TrustThese Officials with Our Economy 46

Where We Have Been Wrong 47

Chapter 3 Phase 1: The Bubbles Begin to Burst 53

Bubbles “R” Us: A Quick Review of America’sBubble Economy 54

From Boom to Bust: The Virtuous Upward Spiral Becomes a ViciousDownward Spiral 60

Pop Goes the Real Estate Bubble 61

Pop Goes the Stock Market Bubble 68

Pop Goes the Private Debt Bubble 72

Pop Goes the Discretionary Spending Bubble 76

The Biggest, Baddest, Bad Loan of Them All 79

Chapter 4 The Market Cliff 83

The Market Cliff Won’t Be Just a “Down Cycle”84

Hitting the Market Cliff 89

The Last Resort: A Stock Market Holiday 94

When Is the Best Time to Get Out of the Stock Market? 95

Chapter 5 Massive Money Printing Will Eventually CauseDangerous Inflation—So Why Hasn’t It Happened Yet?99

What Is Inflation? 100

What Exactly Is Money Printing? 101

How Does Money Printing Cause Inflation? 102

Central Banks Gone Wild: The World Is Printing Money 104

Where Is Inflation Hiding? 109

1. “Lag Factors” Delay the Onset of Inflation109

2. Government Statistics Underreport Inflation 112

3. Strong Motivation to Maintain the Bubble Economy Will DelayMost Inflation Until after the Market Cliff 112

The Arguments against Future Inflation Simply Don’t HoldUp 114

This Is Not a Plan, It’s a Panic! 121

The Real Problem with Rising Future Inflation: High InterestRates 123

The Fed’s Big Blind Spot: They Don’t UnderstandWhere Growth Comes From (Hint: It Doesn’t Come from RisingBubbles or Massive Money Printing) 127

When Will Inflation Begin? When Group Psychology Turns Negativeafter the Market Cliff 131

The Inflation Deniers Are Liars! 134

Chapter 6 Phase 2: The Aftershock 137

The Dollar Bubble: Hard to See without Bubble-Vision Glasses138

The Government Debt Bubble Pops 160

The Aftershock 166

The Six Psychological Stages of Denial 167

Is There Any Scenario for a Soft Landing? 172

Chapter 7 Global Mega-Money Meltdown 173

The United States Will Suffer the Least 174

Think of the World’s Bubble Economy in Two Categories:Manufacturing and Resource Extraction 175

How the Bursting Bubbles Will Impact the World 179

If the World’s Bubble Economy Is Hit Harder than the U.S.Bubble Economy, Won’t That Be Good for the Dollar? 188

If the Rest of the World Is Collapsing, Won’t That Be Goodfor Gold? 188

International Investment Recommendations 190

Part 2 Aftershock Dangers and Profits 193

Chapter 8 Covering Your Assets 195

The Three Rules for Not Losing Money 195

These Rules Are Simple but Not Easy! 196

Long Term versus Short Term 199

Rule 1: Exit Stocks Well Before the Market Cliff 201

Rule 2: Stay Away from Real Estate Until after All the BubblesPop 207

Rule 3: Avoid Bonds and Most Fixed-Rate Investments as InterestRates Rise 219

Where’s the Best Place to Stash Cash? 221

How Long Must We Follow These Three Rules? 222

Letting Go Is Hard to Do 222

What Else Can I Do to Protect Myself? 225

Remember, Your Net Worth Is Not Your Self-Worth 228

Chapter 9 Cashing In on Chaos 229

Plenty of Profit Opportunities, but They Will Feel QuiteUncomfortable, Even Scary at Times 229

This Economy Is Evolving; Your Investments Should Evolve, Too230

Three Goals of an Evolving Aftershock Investment Portfolio232

Reducing Risk with a New Kind of Diversification 233

Timing Is Everything before the Bubbles Pop, but It Won’tBe Perfect 247

Aftershock Investing after the Bubbles Pop: Gold, ForeignCurrencies, and Foreign Bonds 248

Putting It All Together: Aftershock in Action 253

Chapter 10 Aftershock Jobs and Businesses 257

The Rising Bubble Economy Created Huge Job Growth; Now theFalling Bubble Economy Means Fewer Jobs 258

Conventional Wisdom about Future Job Growth Is Based on Faiththat the Future Will Be Like the Past 260

Why Conventional Wisdom on Jobs Is Wrong 261

What’s a Savvy Aftershock Investor to Do? 262

The Falling Bubbles Will Have Varying Impacts on Three BroadEconomic Sectors 265

Should I Go to College? 274

Opportunities after the Bubbles Pop: Cashing In on DistressedAssets 275

Dig Your Well before You Are Thirsty 277

Chapter 11 Understanding Our Problems Is the First StepToward Solving Our Problems 279

If You Don’t Understand Why an Economy Grows, YouCan’t Understand Why It Doesn’t Grow 279

You Need to See the Big Picture before You Start to Focus280

Key Breakthroughs in the History of Economic Thought 282

Economics Needs a Breakthrough Big-Picture Idea like GeologyNeeded Continental Drift 289

So Why Aren’t We Getting an Alfred Wegener or aBreakthrough Idea like Continental Drift? 291

Economists Have Become Academia’s Version of FinancialCheerleaders 291

The Demands to Get Tenure and the Rewards of the Good Life afterTenure Have Delivered a One-Two Punch to Creative Economic Thought292

Where to Now? Answer: Economics Needs to Move from Being aCollection of Competing Philosophies to Being a
Unified Science 295

Four Key Elements for Making Economics More of a Science 297

Where Do We Stand Today in Making This Transition? 301

The Economics Profession Does Not Want to Make This Transition302

The Solution to the Lack of Interest in Making Important Changesin Economics: The Coming Aftershock 304

Chapter 12 Our Predictions Have Been Mostly Accurate, So WhyDo Some People Still Dislike Them? 307

It’s Not a Cheerleading Book 309

It’s Not a Complex Book (Although It Is Based on ComplexAnalysis) 310

It’s Not a Crazy Book 313

It’s Not an Academic Book 313

It’s Not Suggesting Armageddon 314

It’s Not a Reality-Denying Book 314

Us versus the Comforters: How Aftershock Stacks Up against OtherBearish Books 315

Epilogue: Say Good-Bye to the Age of Excess 323

Appendix: Are the Bond, Stock, and Gold Markets Manipulated-327

Bibliography 339

Index 345

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Customer Reviews

Average Rating 3.5
( 108 )
Rating Distribution

5 Star

(32)

4 Star

(28)

3 Star

(21)

2 Star

(16)

1 Star

(11)

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See All Sort by: Showing 1 – 20 of 109 Customer Reviews
  • Anonymous

    Posted October 1, 2011

    Download Aftershock For Free

    Download Aftershock For Free From Here
    goo.gl/qG5zO

    24 out of 27 people found this review helpful.

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  • Posted November 2, 2009

    more from this reviewer

    I Also Recommend:

    AFTERSHOCK - Failure to read could harm you financial health.

    I had the opportunity to meet Bob and Dave Wiedemer back in May 09 as a result of some business I was conducting. At that time they were hard at work on AFTERSHOCK - their second book. They gave me a copy of their original book - America's Bubble Economy. As soon as I read it, I was sold on their vision and philosophy of the markets. In fact I wished I had found the book back in March of 08. At that time, I was having a running argument with my financial advisors at Bernstein Alliance regarding the direction of the markets. I felt sure, based on all my research, that we were headed into a major correction, but did not have the clean, well documented framework around my arguments that were articulated in America's Bubble Economy.

    I continued to pester the Wiedemers for an early copy of their second book AFTERSHOCK, which they graciously provided to me in August. I devoured the book over the next few days and could not find any flaws in their logic. The book is very well laid out, extremely insightful and very easy to read. While I must admit I follow no one single investment strategy, I am in the process of slowly repositioning my investments to incorporate their recommended approach for 25 to 40% of my invested assets.

    For anyone who is inherently uncomfortable with their current investment options, tired of the 2 minute talking heads with their random predictions, and single brokers claiming they know which stocks to buy, AFTERSHOCK is a must read. AFTERSHOCK provides an original way to look at the current market volatility and turmoil. If after reading AFTERSHOCK, one has any doubts as to their predictions, I would strongly encourage you to read their first book America's Bubble Economy, to get a sense of just how accurately they predicted the "Great Recession" we are currently experiencing.

    David and Bob Wiedemer's first book, America's Bubble Economy, published in Oct. 06, not only correctly predicted the "Great Recession" we are in before it started, but more importantly they predicted it for the right reasons in the right order. They predicted it would begin with the deflating of the sub prime loan bubble and then spread to the housing bubble, credit bubble, stock market bubble and finally consumer spending.

    One point of disclosure please. I have become so convinced of their vision and philosophy that I elected to join their economic consulting company as the COO. I hope you find as much wisdom and pleasure in Aftershock as I did.

    21 out of 24 people found this review helpful.

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  • Anonymous

    Posted July 1, 2010

    They got it wrong!

    It's simple, if you had followed their advice, you would have been heavly invested in Euro bonds and stocks, and the 2010 crash would have killed you. They "predicted" the mortgage crisis but got hit by the Euro Crisis head on. The book also has a wide variety of online resources by the authors (blogs etc). They are not current and have not been kept up. I would guess because of the bad predictions in this book.

    Some good stuff in there but most of it is them bragging about the last prediction they got right. When you brag about your accuracy in predicting, and then get it way wrong... well Kings had a punishment for mages that got it wrong that bad.

    14 out of 19 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted January 29, 2010

    I Also Recommend:

    Outstanding Work

    If you want to know what is coming down the pike then read this book. Mr. Wiedemer explains in very good detail the reality of how bad the economic situation is and what you can do to better protect yourself. Very good book if your into the real doom of what is coming around the corner. Great explanation on bubbles and how they are popping - how to approach this "Grand SuperCycle Depression". Batten down the hatches boys this one is for real. You think the 1929 depression was bad? You haven't seen anything yet. Only one other author I like more and that is the great Peter Schiff.

    10 out of 11 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Posted July 23, 2011

    Not a review. Second edition is out. What's taking so long? Amazon has ed. 2.

    This is not a review. I'm just asking why is B&N so slow with 2nd edition for the Nook release. Amazon's kindle already has it.

    6 out of 7 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Posted July 27, 2012

    more from this reviewer

    This book is not worth reading

    Pro's: The authors correctly cite the impact of the Fed's actions of printing money, the fact that there are multiple "bubbles" in the economy, are accurate in the presentation of historical economic conditions

    Con's: The authors write in a sophomoric style, continuously pat themselves on the back about their predictions, sell their website and services, don't provide sufficient background when making predictive statements, leap to conclusions that are not supported and ignore the dynamics of a worldwide economy.
    They predict total collapse and then tell you that the layman cannot protect themselves against the calamity. You are led to the conclusion that you must use their services to protect your assets. Sell,sell,sell.

    5 out of 5 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted March 4, 2012

    Mixed review - lots of repetition but some salient points

    The authors repeated their central themes over and over. This book could have been halved in length and had a more powerful impact on the reader. I resented all of the commercials throughout the book on why readers should use the authors' investment services. In addition, the authors disparaged other economists and books on economics. They came off as smug and self-righteous.

    4 out of 5 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Posted December 11, 2010

    OK

    This was recommended to me by a professor, so I thought I would give it a look.

    This book is interesting as economic theories go, but I looked at their strategy for Euro vs Dollar and it is failing. They might be right on some other details, but economics, like the rest of the sciences moves very fast.

    4 out of 4 people found this review helpful.

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  • Anonymous

    Posted February 21, 2010

    A Warning Sign To The Road Ahead!

    Sadly this book makes all too much sense. It clearly states what no one wants to hear but what everyone really needs to know. You can ignore their advice but doing so could prove disasterous to your investments. Buckle up, the worst of the ride is still ahead of us.

    4 out of 6 people found this review helpful.

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  • Anonymous

    Posted March 1, 2012

    Bd

    A very informative book. I agree with most of what they convey. The only problem i have, is that they do not mention, that gold is not tied to any currency, anywhere. The world banks, along with all countries in the world do not have gold backing up their currency. So if that bubble pops, gold will go down, just as silver, platinum, and palladium do.

    3 out of 3 people found this review helpful.

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  • Posted February 20, 2010

    Riveting

    This book has opened my husband's and my eyes to reality. I highly recommend it to everyone concerned about their future

    3 out of 7 people found this review helpful.

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  • Anonymous

    Posted February 6, 2010

    The best Book I ever read

    I can recommend this great book without hesitation. It's a must read for people who are looking into their private and financial future.

    3 out of 6 people found this review helpful.

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  • Posted September 7, 2011

    Great job in predictions of our soon downfall of the financial markets

    I'm still trying to figure out how to save my 401k from being underwater..Not certain I can move funds to purchase gold..which is their strongest recommendation. Hmmmmm

    2 out of 4 people found this review helpful.

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  • Anonymous

    Posted August 31, 2012

    Tap Here!!!

    Someone I know has read this book. She recomended it to me. Though I have not read it yet, I fully intend to in the near future. My rating is only accurate to my families' desire for me to post.

    1 out of 3 people found this review helpful.

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  • Posted September 8, 2011

    Highly recommend

    Great book , good insight on the economy.

    1 out of 3 people found this review helpful.

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  • Anonymous

    Posted March 12, 2010

    a must read..spot on and informative

    The direction cannot be refuted and the facts are the facts no pink skies here!!! Great for anyone who desires the reality of the world economic conditions mainly the U.S.

    1 out of 3 people found this review helpful.

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  • Anonymous

    Posted April 25, 2013

    Eye opening book!

    I highly recommend reading this book, it's a real eye opener regarding the financial mess we're all in. All the 'experts' keep trying to give us a 'pep talk' about how wonderfully the economy is supposedly turning around. However, my guts keep telling me they're not being honest with us in regards to how we got into this mess in the first place and how we might riding out the financial storm. This book has served to confirm a number of my suspicions and was very enlightening.

    Was this review helpful? Yes  No   Report this review
  • Posted February 15, 2013

    Interesting Read

    Overall I would recommend the book as it presents some interesting ideas. What they say makes a lot of sense, is well written and fairly easy to understand. Even if one gets lost in some of their technical terminology the concept still comes across well enough. It is also cheaper here than from them directly.

    What I didn't like about it is the amount of space they take up tooting their own horn. Yes they predicted the housing bubble crash, etc but touting this in practically every chapter get a bit old.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted January 18, 2013

    A Must read

    This book has changed my thinking about stocks and bonds and what the future holds. After a few chapters I ordered the book they wrote next "the Aftershock Investor." Some people will not want to believe what they predict, but if what they say happens or just part of what they say happens, they will wish they had known.

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  • Posted October 22, 2012

    Good thoughtful and timely information

    The book could certainly be more concise and tends to circle back to the same points and information more than necessary. The points made are insightful and important (they just get repeated a bit too much). The coming after shock as outlined, even if only a fraction of that predicted, is scary and helps readers to both understand the cause and the effect as well as prepare for it.

    0 out of 1 people found this review helpful.

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