Debt, Deficits, and the Demise of the American Economy

( 5 )

Overview

"The problem we now face is the most extraordinary financialcrisis that I have ever seen or read about." —Former FederalReserve chairman, Alan Greenspan (August 7, 2010, interview in theNew York Times)

So begins this extraordinary book that takes the reader througha logical and linear progression toward what is likely to becomethe worst financial disaster in American history. The financialArmageddon will begin with the collapse of the so-called PIIGSnations—first Greece, then Ireland—leading to a crisis ...

See more details below
Hardcover
$23.45
BN.com price
(Save 16%)$27.95 List Price

Pick Up In Store

Reserve and pick up in 60 minutes at your local store

Other sellers (Hardcover)
  • All (24) from $1.99   
  • New (5) from $15.82   
  • Used (19) from $1.99   
Debt, Deficits, and the Demise of the American Economy

Available on NOOK devices and apps  
  • NOOK Devices
  • Samsung Galaxy Tab 4 NOOK 7.0
  • Samsung Galaxy Tab 4 NOOK 10.1
  • NOOK HD Tablet
  • NOOK HD+ Tablet
  • NOOK eReaders
  • NOOK Color
  • NOOK Tablet
  • Tablet/Phone
  • NOOK for Windows 8 Tablet
  • NOOK for iOS
  • NOOK for Android
  • NOOK Kids for iPad
  • PC/Mac
  • NOOK for Windows 8
  • NOOK for PC
  • NOOK for Mac
  • NOOK for Web

Want a NOOK? Explore Now

NOOK Book (eBook)
$15.49
BN.com price
(Save 44%)$27.95 List Price

Overview

"The problem we now face is the most extraordinary financialcrisis that I have ever seen or read about." —Former FederalReserve chairman, Alan Greenspan (August 7, 2010, interview in theNew York Times)

So begins this extraordinary book that takes the reader througha logical and linear progression toward what is likely to becomethe worst financial disaster in American history. The financialArmageddon will begin with the collapse of the so-called PIIGSnations—first Greece, then Ireland—leading to a crisis ofconfidence in European banks and a sharp devaluation of the euro.Speculation about the fate of the EU will spark a trading frenzy inworld equities markets, and the rising uncertainty will bring arapid decline in world stock markets. The bond markets will all butshut down, and interest rates will spike. In short order, the focuswill shift from Europe to the United States and its monumental debtand out-of-control deficit spending. The U.S. Treasury will shiftits printing presses into high gear as it churns out additionalbillions to cover its debts, but America's deteriorating financialcondition will cause a spike in interest rates as buyers of U.S.Treasuries lose confidence. Several states will default on theirmunicipal debt; in many cases, retirement checks to former stateemployees will cease. From there, events inexorably will lead tosoaring inflation of an order not seen since the 1970s.

If this grim scenario seems far-fetched to you now, it won't bythe time you're done reading this harrowing account of the currentstate of the world financial system.

Authors Peter Tanous and Jeff Cox brush aside the "blue skies"propaganda coming out of Washington and the New York Fed to offer acold-eyed assessment of the facts. Step by painful step, theydelineate the events that have led us to the current state ofaffairs until they arrive at the inescapable conclusion thatdecades of profligate spending by government and recklessspeculation in the financial markets have taken us too far down thepath of destruction for us to entertain any ideas of turning back.Global economic collapse may be inevitable. The only questionremaining now is what you can do to protect your assets until thecrisis blows over.

In answer to that question, Tanous and Cox explain why ModernPortfolio Theory and the traditional 60/40 portfolio structure nolonger apply. In their place, the authors offer a set ofinflation-busting asset allocation strategies that include asubstantial investment of real assets—including oil, gold,timber, and even farmland—as well as inflation-protectedbonds.

A storm is coming. How soon, exactly, it will arrive, no one cansay for sure. If you want to know how it will shake out and whatyou can do to shield your hard-earned assets from the worst of it,read Debt, Deficits, and the Demise of the American Economy.

Read More Show Less

Product Details

  • ISBN-13: 9781118021514
  • Publisher: Wiley
  • Publication date: 5/3/2011
  • Edition number: 1
  • Pages: 207
  • Product dimensions: 6.20 (w) x 9.10 (h) x 1.00 (d)

Meet the Author

Peter Tanous is President of Lepercq Lynx InvestmentAdvisory. Over the course of his forty years as a financeprofessional, he has served as executive vice president of BankAudi (U.S.A.) in New York City, chairman of Petra CapitalCorporation—an international investment bank that hecofounded—and first vice president and international regionaldirector with Smith Barney. Mr. Tanous is the author of severalcritically acclaimed books, including Investment Gurus, which waschosen as a Main Selection of The Money Book Club, as was hissubsequent book, The Wealth Equation.

Jeff Cox has been a journalist since 1987 and is a staffwriter with CNBC.com where he covers all aspects of the markets,and appears on CNBC Television. He provides market commentary forradio stations across the country, and his articles frequently runon other CNBC syndication partners such as TheStreet.com, Yahoo!,and AOL Money. He also has worked at CNN Money and as a senioreditor for two Pennsylvania newspapers. Cox's writing and editingprojects have been honored on multiple occasions by the New JerseyPress Association and Pennsylvania Newspaper Association.

Read More Show Less

Read an Excerpt

catalogimages.wiley.com/images/db/pdf/9781118021514.excerpt.pdf
Read More Show Less

Table of Contents

Foreword.

Introduction.

Chapter 1 It's the Deficit, Stupid.

Chapter 2 The Crisis Begins.

Chapter 3 The Miserable State of the States.

Chapter 4 Inflation, Through the Years.

Chapter 5 Europe on the Brink.

Chapter 6 The Crisis Hits the United States.

Chapter 7 The Way Back.

Chapter 8 Forging Ahead.

Chapter 9 Investing in a Time of Crisis.

Chapter 10 Gold Still Good.

Chapter 11 The World Still Runs on Oil.

Chapter 12 Understanding the Investment Risks We Face.

Conclusion We Have Been Here Before.

Notes.

Acknowledgments.

About the Authors.

Index.

Read More Show Less

Customer Reviews

Average Rating 4
( 5 )
Rating Distribution

5 Star

(4)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(1)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing all of 5 Customer Reviews
  • Anonymous

    Posted May 3, 2011

    Excellent Read

    This was an excellent book and where we are and where we will be headed if something drastic is not done to stop our runaway spending habits. Every elected official should be reading this book as a homework assignment.

    2 out of 2 people found this review helpful.

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

    Posted May 4, 2011

    A must read!!

    A brilliant account of the facts of our failing economic policies. Great advice for getting us headed in the right direction. A must read for anyone worried about their family, business and the direction of our country.

    1 out of 1 people found this review helpful.

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

    Posted June 24, 2011

    No text was provided for this review.

  • Anonymous

    Posted May 3, 2011

    No text was provided for this review.

  • Anonymous

    Posted July 24, 2011

    No text was provided for this review.

Sort by: Showing all of 5 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)