Survival Investing: How to Prosper Amid Thieving Banks and Corrupt Governments

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Most individuals and institutions hold the preponderance of their investments in common stocks, corporate bonds, mutual funds, index funds, muni bonds, money markets, bank CDs, and Treasury securities. But these conventional investments will not do well in a world dominated by corrupt, debt-laden governments and thieving bankers, brokers and middlemen. Finance guru John R. Talbott, prescient predictor of the financial crisis and the housing market crash, offers a new paradigm for the coming economic reality. He ...

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Survival Investing: How to Prosper Amid Thieving Banks and Corrupt Governments

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Overview

Most individuals and institutions hold the preponderance of their investments in common stocks, corporate bonds, mutual funds, index funds, muni bonds, money markets, bank CDs, and Treasury securities. But these conventional investments will not do well in a world dominated by corrupt, debt-laden governments and thieving bankers, brokers and middlemen. Finance guru John R. Talbott, prescient predictor of the financial crisis and the housing market crash, offers a new paradigm for the coming economic reality. He shows how the recent housing collapse and global economic crisis left governments of the world with enormous annual operating deficits at a time when the banking system continues to struggle with bad debts and requires additional government guarantees and bailouts. Add the fact that growth is constrained because the first wave of the baby boom is hitting 65 and consumers are still loaded with unsustainable levels of debt, and you have a recipe for an economic catastrophe. In this uncertain atmosphere, Talbott offers clear strategies on what you can do to protect your investments and your family.

Among the global dynamics covered are:

*the low-wage threat of China and India

*the legitimacy of gold investing

*the false security of diversification

*the risks of sovereign debt

. . . and why most economists are missing the boat.

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Editorial Reviews

From Barnes & Noble

John R. Talbot's 2003 book The Coming Crash in the Housing Market correctly predicted events that we all now know too well. His latest book is less a prophetic warning than a wise extended word of counsel. In Survival Investing, the author of Obamanomics maintains that the present combination of global financial crisis, massive government debts, official corruption, bank machinations, baby boom retirement, and individual debt bodes badly for Americans who rely on traditional approaches to investments. After delivering that grim news, he describes sound strategies to protect yourself and your family in these volatile times. Worth recommending.

Publishers Weekly
Talbott (Where America Went Wrong), a former investment banker for Goldman Sachs, was concerned about the financial crisis long before it happened. Currently running a small financial consulting company that advises individuals and families about their financial decisions and asset allocation, Talbott wants to warn readers about the perils of a corrupt, lobbyist-ridden system in which even economists don’t understand what’s going on. Stocks, bonds, and money markets won’t cut it because of the danger of inflation. Instead, readers should invest in hard assets like gold and real estate. He doesn’t trust Wall Street, has no hope for reform, and believes in regulation that doesn’t seem to be coming. This slim but shrewd discussion of money and politics—and the deleterious effect the latter has on the former—is a provocative study of the dangers of impending runaway inflation. (June)
From the Publisher
"A nonconformist approach to finance and investing that should appeal to politically minded contrarians."—Kirkus Reviews

"This slim but shrewd discussion of money and politics—and the deleterious effect the latter has on the former—is a provocative study of the dangers of impending runaway inflation."—Publishers Weekly

"Finance is based on trust. But what do you do if you cannot trust financiers? Talbott, who has long been an acute observer of what's wrong with our financial system, proposes provocative answers." —Daron Acemoglu, Professor of Economics, MIT and co-author of Why Nations Fail

“You need not embrace John's political bombast, but you ignore his financial prescriptions at your peril.  For over a decade, he has made consistently prescient observations about future developments that were ignored by the vast majority of establishment analysts and pundits...until they happened.  John is a brilliant unconventional thinker.  His concept, introduced in this book, of measuring investment returns in terms of ounces of gold instead of units of  paper currency could revolutionize investment practice much as Einstein's general relativity revolutionized cosmology.”—Peter Fahey, Retired Partner, Goldman, Sachs & Co.

 "In this highly readable, brutally honest, and genuine book, Talbott identifies the key problem our society and economic system face - corporations, especially banks, have way too much political power and cannot be trusted with investors’ money as governments, regulators, and even academics betray their responsibilities to the public. Talbott calls it like he sees it." —Anat Admati, Professor of Finance and Economics, Stanford Graduate School of Business

"John Talbott, a Wall Street insider, blows a deafening whistle in this no-holds-bar description of financial corruption and government malfeasance.  His grave warnings about Wall Street and Pennsylvania Avenue come with strong advice about how to protect ourselves from the next terrible economic storm — Uncle Sam's going broke.  Survival Investing will put your hair on end, but also let you sleep at night.   It's a must read."—Laurence Kotlikoff, Professor of Economics, Boston University and co-author of The Clash of Generations 

Library Journal
Bold and to the point, this book summarizes various problems in the current global economy (e.g., devalued currencies, deficits, bankers dictating laws via lobbying) and will cause readers to, at the minimum, reevaluate their investment strategies and, at the maximum, question everything they assumed was stable about banking and financial systems. Former Goldman Sachs investment banker Talbott (The 86 Biggest Lies on Wall Street) explains why both the United States and its global financial allies are overleveraged and failing their citizens. A recurring theme is that after the housing bust in 2008, the Federal Reserve began printing more money, which led to inflation and a devalued U.S. dollar. Talbott also offers solutions, recommending that readers put their investments in hard assets (e.g., real estate, gold) rather than traditional vehicles such as stocks, bonds, or money market funds. After reading the book, it is not hard to understand why. VERDICT Written in accessible, if alarmist, language, this title is tailored for those who want the real deal on what financial steps should be taken in these unstable economic times.—Leigh Mihlrad, National Inst. of Health Lib., Bethesda, MD
Kirkus Reviews
A warning to investors that "the game is rigged" against them by cheating capital markets. Former Goldman Sachs investment banker Talbott (How I Predicted the Global Economic Crisis: The Most Amazing Book You'll Never Read, 2011, etc.) lays out why he thinks investors in traditional securities--stocks and bonds--are wasting their time and money extending the life span of a system that guarantees losses. The author directs most of his ire at the international spread of indebtedness, as well as the corruption in finance and politics represented by the combination of money and lobbying. "There can be no true reform in the economics sphere," he writes, "until we reform our system of money and politics, until we outlaw lobbyists." He isn't alone in arguing that reform efforts have been undermined by lobbyists bought and paid for by banks to protect activities that will cause another crisis. In that sense, Talbott emerges as part conspiracy theorist, part supporter of the Occupy Wall Street movement, and part supporter of a third-party insurgency against the established order. Believing that expansion of the Federal Reserve's balance sheet and quantitative easing will sooner or later unleash a wild inflation, the author recommends investors seek to preserve their assets through defensive measures. His favorite means include borrowing long term at today's historically low interest rates to purchase residential real estate and gold--though he cautions that "you probably don't want to put everything you own into gold right now." A nonconformist approach to finance and investing that should appeal to politically minded contrarians.
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Product Details

  • ISBN-13: 9780230341227
  • Publisher: St. Martin's Press
  • Publication date: 6/19/2012
  • Pages: 256
  • Product dimensions: 6.40 (w) x 9.30 (h) x 1.10 (d)

Meet the Author

John R. Talbott is a former investment banker, economics guru, and bestselling author with global book sales approaching 200,000. He has established himself as a predictor of major economic events over the last two decades, including the dot.com technology stock collapse, the overheated national housing market, and the global mortgage crisis. Talbott has had articles published in The Wall Street Journal, the Financial Times, The Boston Globe, the San Francisco Chronicle, the International Herald Tribune, The New Republic, the Los Angeles Times, and Salon.com and is a regular contributor to The Huffington Post.  He has appeared as a financial expert on television for CNN, CBS, Fox News, CNBC, Fox Business News, CSPAN, and MSNBC as well as on hundreds of radio programs. Talbott was previously a visiting scholar at UCLA’s Anderson School of Management as well as a top Goldman Sachs investment banker.

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Table of Contents

Preface v

Introduction 1

1 A Day at the Races 9

2 Corruption in the Banks 21

3 The United States Stumbles and Falls 45

4 The Entire World Faces Default 59

5 No Reform Coming 73

6 The Low-Wage Threat of China and India 87

7 Why Economists Don't Get It 99

8 Why Markets Don't Behave the Way They Are Supposed To 111

9 Why Stocks, Bonds, and Money Markets Won't Cut It 129

10 Only an ldiot Would Lend to a Sovereign Government 145

11 Why Diversification Won't Help 155

12 Real Assets-Real Returns 167

13 Gold as a Yardstick and as an Investment 189

14 A Brave New World 211

Index 299

About the Author 241

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Sort by: Showing 1 Customer Reviews
  • Posted October 15, 2012

    Highly recommended!

    I cannot overemphasize the importance of this book. It clearly explains the current state of national and global economics, as well as the causes. And what is more important for me, he shows me viable ways that I can protect my family from the problems as they escalate in the future. I believe that clear writing requires clear thinking, and he distinguishes himself from other, muddy explanations and solutions. If you only read one book on the subject, you need to read this one. I liked it so much I wound up using his investment consulting (I'm not being paid to say this, I just find it extremely helpful, and reasonable too.) Good luck!

    1 out of 1 people found this review helpful.

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