Crash Proof: How to Profit From the Coming Economic Collapse

Crash Proof: How to Profit From the Coming Economic Collapse

by Peter D. Schiff, John Downes

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Overview

The economic tipping point for the United States is no longer theoretical. It is a reality today. The country has gone from the world's largest creditor to its greatest debtor; the value of the dollar is sinking; domestic manufacturing is winding down - and these trends don't seem to be slowing. Peter Schiff casts a sharp, clear-sighted eye on these factors and explains what the possible effects may be and how investors can protect themselves. For more than a decade, Schiff has not only observed the U.S. economy, but also helped his clients reposition their portfolios to reflect his outlook. What he sees is a nation facing an economic storm brought on by growing federal, personal, and corporate debt, too-little savings, a declining dollar, and lack of domestic manufacturing.
Crash-Proof is an informed and informative warning of a looming period marked by sizeable tax hikes, loss of retirement benefits, double digit inflation, even - as happened recently in Argentina - the possible collapse of the middle class. However, Schiff does have a survival plan that can provide the protection that readers will need in the coming years.

Product Details

ISBN-13: 9781118038932
Publisher: Wiley
Publication date: 12/15/2010
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 288
File size: 859 KB

About the Author

PETER D. SCHIFF is a seasoned Wall Street prognosticator best known for his accurate predictions of the performance of the stock market, commodities, gold, and the dollar. He began his career at Shearson Lehman and joined Euro Pacific Capital (a broker-dealer with expertise in foreign markets and securities) in 1996, becoming President of the firm in 2000. Schiff is often quoted in major publications?such as?the Wall Street Journal, Barron's, the Financial Times, the New York Times, and the Christian Science Monitor.

A frequent guest on television, he appears regularly on CNBC, Bloomberg, and FOX News, edits the Global Investor, an investment newsletter, and hosts a weekly radio program Wall Street Unspun. His economic and market commentaries are featured on many investment-oriented Web sites as well as on www.europac.net. CNBC's Squawk Box has nicknamed Schiff "Dr. Doom" for his uniquely bearish outlook on the U.S. economy and its financial markets.

JOHN DOWNES is coauthor of the bestselling Dictionary of Finance and Investment Terms, Barron's Finance and Investment Handbook, and Beating the Dow. He lives in Palisades New York.

Table of Contents

Preface.

Introduction: America.com: The Delusion of Real Wealth.

1 The Slippery Slope: Consumers, Not Producers.

2 What Uncle Sam, the Mass Media, and Wall Street Don’t Want You to Know.

3 For a Few Dollars More: Our Declining Currency.

4 Inflation Nation: The Federal Reserve Fallacy.

5 My Kingdom for a Buyer: Stock Market Chaos.

6 They Burst Bubbles, Don’t They?: The Coming Real Estate Debacle.

7 Come On In, the Water’s Fine: Our Consumer Debt Problem.

8 How to Survive and Thrive, Step 1: Rethinking Your Stock Portfolio.

9 How to Survive and Thrive, Step 2: Gold Rush—Be the First Person on Your Block to Stake a Claim.

10 How to Survive and Thrive, Step 3: Stay Liquid.

Epilogue.

Books for Further Reading.

Glossary.

Index.

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Crash-Proof: How to Profit From the Coming Economic Collapse 4.4 out of 5 based on 0 ratings. 26 reviews.
M_L_Gooch_SPHR More than 1 year ago
I read this very interesting book a couple of months ago and was surprised to see it climbing the charts again. The topic is certainly timely and much needed however...

While I agree with the Lion's share of the advice (and the author is more competent in these matters than I) contained therein, I struggle with accepting his advice in precious metals and foreign markets. As I believe, the foreign markets still reflect the good `ole USA at this time, I just cannot trust them. In addition, gold is too volatile for my needs at the age of 52. Of course, the book speaks loudly about age and options.

Everything else I believed was right on target therefore I give it a 4 star rating. I hope you found this review helpful. Michael L. Gooch, SPHR
Guest More than 1 year ago
I'm a Forex Price Action trader. I make money when global currencies move. From that point of veiw I notice things in the last few years concerning the global markets. But Peter's no nonsense way of layng it all out there in a clear and common sense manner is fantastic, and he makes sense of it all. This is by far the best investor's book I've EVER READ....EVER. Unless you enjoy paying almost $5/gal for gas then I'd say this book is for everone that currently is tied to the US Dollar. Buy it, read it, and FOLLOW the advice given! This is the TIP you've been looking for!
Guest More than 1 year ago
I plug this in due dilagence. Get this book it is a great educational prospeftive reveiw of how the US Econo works. Peter really does make alot of pure sense.
Guest More than 1 year ago
Very good book. Lots of simple explanations of the problems facing our country and curreny. A must read for anyone concerned about our economy.
Guest More than 1 year ago
I am so grateful to have found this book. It says all the things I was feeling,but didn't know where to find the research and proof. Everyone should read Crash Proof not matter what their needs are. It could help them save their assets and learn what to do and what not to do.
Guest More than 1 year ago
I have been watching Peter Schiff on TV for a while. This book explains in detail without the interruptions that (MSM and CNBC in particular like to create) in an attempt to ridicule Peter's point of view. I found in particular the bold type scattered throughout the book to be very helpful to remember main points of interest
Guest More than 1 year ago
For those who think that the bull market will never end...keep moving on. For those of you, who are beginning to wake up, and realize the housing bubble is more than a hiccup, then read this book. You'll start seeing what George Soros and Warren Buffet have been warning about for years...This books connects all the dot in the world economy...Peter's predictions are coming to reality...the sooner you get on board Peter's arc, the sooner you start conserving your weath.
Guest More than 1 year ago
A number of books in the finance section of the chain bookstores are foolish or tend to churn the same material with a different tag line. I read this book on a recomendation from a friend and i was impressed. A number of the topics were related to issues that I had considered, had concerns about but had never truly addressed in my investments. This book got me to put my money where my mouth was and I have slept better for it. I have given copies to friends and acted on the recomendations, it is the best money I have spent this year.
Guest More than 1 year ago
An absolute must read for every American interested in preserving his wealth. Peter Schiff is one of the very few economists today not afraid to question fake government numbers and Wall Street ¿experts¿. All facts and recommendations are backed by tons of facts and easy to understand examples. I highly recommend this book!
Guest More than 1 year ago
Peter will get you thinking about what is lurking in the shadows. With the knowledge from this book you'll get a better understanding of how to navigate the treacherous course ahead.
brett_in_nyc on LibraryThing More than 1 year ago
great great review of the inconsistencies in the financial reporting in this country. Energy, housing, lots of other things are not computed in the consumer price index because that would scare us! The whole thing is a manipulation. This is a great book to use to really understand the constructed reality we have constructed (or allowed to be constructed) around ourselves that keeps us slaves to this hegemonic imperialist system (which by the way causes terrorism and war but that is my comment).
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james79 More than 1 year ago
From both an economic and monetary perspective, the United States is a house of cards-impressive on the outside, but a disaster waiting to happen beneath the surface. In a relatively short period of time, the country has gone from the world's largest creditor to its greatest debtor; the value of the dollar has declined; and manufacturing has given way to non-exportable services. While these and other issues could spell disaster for your financial well-being, the situation could also present unique opportunities-if one is prepared. For more than a decade, seasoned Wall Street prognosticator Peter Schiff has not only observed the U.S. economy, but has helped his clients restructure their portfolios to reflect his outlook. What he sees today is a nation facing an economic storm brought on by growing federal, personal, and corporate debt; too little savings; a declining dollar; and lack of domestic manufacturing. Here, Schiff provides listeners with an insightful examination of the structural weaknesses underlying this impending economic meltdown, and discusses how they can protect themselves-and profit-during the difficult times that lie ahead. Using common-sense analysis, creative analogies, and easy-to-understand language, Schiff entertains as well as educates, and outlines a specific three-step plan that will allow listeners to preserve wealth and protect the purchasing power of their savings. #1: Rethinking Your Stock Portfolio: shows how to replace endangered U.S. dollar holdings with a portfolio of foreign securities that are safer, significantly higher yielding, and appropriate for any investment objectives #2: Gold Rush:examines the various ways to capitalize on the bull market in gold, and silver, and explains how they can add both safety and exciting growth potential to a conservative foreign stock portfolio #3: Stay Liquid: discusses the importance of liquidity in times of financial uncertainty-from having enough money for living expenses to keeping a reserve of uncommitted cash that can be used to acquire assets at bargain prices Investing using conventional wisdom will not work during times of financial distress. That's why Crash Proof has taken the reality of today's economic situation into account as it offers guidance. Filled with in-depth insights and expert advice, Crash Proof will help listeners survive and thrive during the coming years of economic uncertainty.
Tearlach More than 1 year ago
I'm one of those small investors who over the last 20 years has fallen prey to the propaganda Wall Street spins to move the masses (while insiders bet the opposite play). Schiff was been routinely labelled a crazy bear over the last decade and I was starting to believe it...until his vision was validated in the current "Great Recession". Check out YouTube for Schiff's 2006 video at the Mirage in Las Vegas, where 3/4 of his predictions have come true. Only now does WS reluctantly begin to embrace his way of thinking. I am a convert to most of his thinking and prudent investors should read his book - but get the updated version, "Crash Proof 2.0" which just went on sale - I am ordering mine right now. Get out of US Dollar denominated securities and preserve your purchasing power! Ignore Schiff at your own peril. Small investors without institutional clout, major client status or insider knowledge beware WS corruption, which now has the funding (and blessing) of the US Government.
dreamio More than 1 year ago
I've opened my eyes on how to understand economy and make good use of my money. Thank you, Mr. Schiff!
JosephNicholas More than 1 year ago
Crash Proof: How to Profit from the Coming Economic Collapse Interesting book in regards to these financial times. What I like about it was that it wasn't just more of the same "diversify.blah..blah. blah." He gave lots of specifics. The Author presents both out-of-the-box and common sense ideas to not only survive, but even thrive in a financial crisis.
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Guest More than 1 year ago
Common-sense insightful examination and analysis, creative analogies, and easy-to-understand language. Entertains & educates. Gives specific plans to preserve wealth and protect the purchasing power of your savings. Expert advice that will help you not only survive, but thrive. The piggy bank on the cover is your savings being protected by Schiff's Crash Proof. HIGHLY RECOMMEND. Mere words are not enough. A MUST READ.
Guest More than 1 year ago
I have listened to Peter Schiff for many years on his interviews and internet radio show forecasting the crash of the USA economy. His message is coming true. The book tells of the housing/credit bust, government debt, and how inflation is a great threat to Americans, the dollar, and their assets. I'm taking his advice and placing my money in precious metals, commodities, and high foreign dividend paying companies. I'm trying to get my immediate family protected as well. Americans need to heed his warning. It's real!