Contagion: The Financial Epidemic That Is Sweeping the Global Economy... and How to Protect Yourself from It

Overview

For more than a decade, bestselling author and former investment banker John Talbott has accurately called many of the major financial crises we have faced long before they occurred. In 2003, he predicted the housing market collapse in his bestselling book, The Coming Crash of the Housing Market. In 2006, he foretold the peak in housing prices and wisely explained Sell Now!, in a timely sequel to his bestseller. Most recently, he insightfully probed the bottom-up economic policies that would guide Barack Obama to...

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Contagion: The Financial Epidemic That is Sweeping the Global Economy... and How to Protect Yourself from It

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Overview

For more than a decade, bestselling author and former investment banker John Talbott has accurately called many of the major financial crises we have faced long before they occurred. In 2003, he predicted the housing market collapse in his bestselling book, The Coming Crash of the Housing Market. In 2006, he foretold the peak in housing prices and wisely explained Sell Now!, in a timely sequel to his bestseller. Most recently, he insightfully probed the bottom-up economic policies that would guide Barack Obama to the White House in his book Obamanomics.

Past is always prologue for Talbott, and his economic reasoning and free-thinking forecasts about the future have captured people's attention. In his latest book, Contagion, he again warns about what once seemed implausible and impossible—the deepest global recession the world has ever seen, one that will forever shake the economic foundations and social fabric of our lives.

"Talbott is the author of two books that more or less foretold the pain homeowners are now experiencing. . . . So far many of John Talbott's predictions have been spot-on. But as the housing bust continues, homeowners in my neighborhood and beyond have every reason to hope his prescience proves short-lived."
—Daniel McGinn, national correspondent, Newsweek, and author of Home Lust: America's Obsession with Our Homes

"When John Talbott's controversial book, The Coming Crash in the Housing Market, hit store shelves in 2003, the real estate industry—and everyone else who stood to profit from the dizzying rise in U.S. home prices—gave it a hostile reception. So, with subprime mortgage loses and credit woes now the no. 1 topic in the markets, what does the former Goldman Sachs investment banker see next?"
Toronto Globe & Mail (September 14, 2007)

With the worldwide financial crisis and economic contagion mutating in ways that foreshadow global economic meltdown, Talbott explores the necessary government actions and reforms—and strategies that investors can use—to weather one of the worst financial crises in history. Never have Talbott's predictions been as bold, or his advice about what to do in the future more timely.

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Product Details

  • ISBN-13: 9780470442210
  • Publisher: Wiley
  • Publication date: 12/31/2008
  • Edition number: 1
  • Pages: 272
  • Product dimensions: 6.20 (w) x 9.10 (h) x 1.20 (d)

Meet the Author

John R. Talbott is a bestselling author, a former investment banker for Goldman Sachs, and previously a visiting scholar at UCLA's Anderson School of Management.
For the last decade he has been writing full-time as an author, publishing six books and numerous peer-reviewed academic journal articles on economics and politics. His book titles include SlaveWages, The Coming Crash in the Housing Market, Where America Went Wrong: And How to Regain Her Democratic Ideals, Sell Now!: The End of the Housing Bubble, and Obamanomics. Talbott has served as an economic adviser to a number of developing countries, including Jordan and Russia.
He has appeared live on CNN, Fox News, CNNfn, CNBC, MSNBC, and CBS, and has published articles in the Wall Street Journal, Boston Globe, Philadelphia Examiner, San Francisco Chronicle, and Financial Times.

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Table of Contents

Preface.

Chapter 1. Bamboozled.

Chapter 2. What Didn't Cause the U.S. Housing Boom and Bust.

Chapter 3. What Did Cause the U.S. Housing Boom and Bust.

Chapter 4. The Contagion Spreads from Sub-Prime to Prime.

Chapter 5. How Low Will Housing Prices Go in the U.S.?

Chapter 6. The U.S. Economy Was Not in Great Shape to Begin With.

Chapter 7. U.S. Enters a Long Recession.

Chapter 8. The Global Economy Catches the Contagion.

Chapter 9. Too Big to Fail—The $400 Trillion Derivatives Market.

Chapter 10. Our Local Governments Feel the Pinch.

Chapter 11. From Wall Street to Main Street.

Chapter 12. Demographics Magnify Contagion.

Chapter 13. Which Investments and Which Countries Will Weather the Storm the Best?

Chapter 14. Stop the Bleeding.

Chapter 15. No Future without Reform.

Chapter 16. A Warning Shot Across Our Bow.

References.

About the Author.

Index.

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Sort by: Showing all of 9 Customer Reviews
  • Posted June 29, 2009

    more from this reviewer

    Frightening financial assessment

    John R. Talbott is a prescient, provocative financial writer. In this book, he points the finger at those he sees as the real culprits behind the global financial collapse. He relates the U.S. real estate market slump to the broader economic deterioration in American fundamentals. He forecasts a long, hard road to recovery, one that is so difficult, he says, that the U.S. may choose not to take it. That, of course, would be a disastrous decision, but he pessimistically posits that it would be in keeping with the self-centered baby boom generation. In addition to diagnosing a nearly terminal disease of corruption in the American system, Talbott makes some recommendations for investment strategies that getAbstract finds may help individuals cope with challenging times.

    1 out of 1 people found this review helpful.

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  • Posted April 13, 2009

    more from this reviewer

    Good read, too quickly out of date

    If you wish a clearly stated, great for non-economist readers, coverage on how the 2008-2009 recession (depression?) got started, this is your book. The choice of title, "Contagion," and how the author defines it is my favorite part. It is falling out of date, but it does stand as a reasonable statement for the U.S. and world economies as we moved from 2008 into 2009.

    0 out of 1 people found this review helpful.

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  • Posted April 13, 2009

    Financial wisdom from a man with a conscience

    I found this to be a superb book, whose contents I will long remember. It is very timely, and will be of benefit to anyone interested in how the nation got into the financial dilemma it now finds itself, but also a best guess about the immediate future and its consequences for individual financial planning. The current administration would do well to find a place for this author.

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