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The Return of the Great Depression
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The Return of the Great Depression

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3.8 of 5 stars 3.80  ·  rating details  ·  76 ratings  ·  12 reviews
It has been recorded in official government records that there were no survivors of the five companies of the Seventh Cavalry who were with General George Armstrong Custer at the battle at the Little Big Horn. Recently, uncovered records and forensic handwriting evidence, the latter verified by forensic handwriting experts, reveal that one trooper, a sergeant in C Company ...more
ebook, 280 pages
Published October 29th 2009 by WND Books
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Frank Roberts
We are so screwed.

Day convincingly argues that the present economic climate is parallel in many ways to the early days of the Great Depression, and that the remedies being prescribed are also parallel to the failed policies of the Hoover and Roosevelt administrations that prolonged the Contraction of 1929-41.

This slender volume (only 250 pages) also provides the best explanation of just what went wrong, including the wrong-headed policies of both political parties, and a very useful summary of t
...more
John
Mr. Day is a proponent of the Austrian School of economic theory who believes that a second great depression is near (Depression 2.0) He maintains that the only way to minimize the inconvenience of this scenario is to implement a ten course corrections.
1. The Feds must raise interest rates
2. No more bailouts
3. Cut income taxes.
4. Eliminate 'pork'
5. Audit the Federal Reserve. (Neat idea)
6. Curtails the SEC's power to regulate stock exchanges. As police, they do a very poor job.
7. Bring all our tr
...more
Halik
just wrote a lengthy review and it just disappeared. Anyway what i said in a nutshell was that the book had its positives. It shows that economic theory put into practice cannot escape the corruption of politicization. It also shows that deductions based on historical statistics may not be all that solid after all. But ultimately this is a rant against all other schools of economics except the Austrian school and this is illustrated in the authors pages long rant against Paul Krugman. I lost thr ...more
Frederick Dotolo
His analysis of the cause of the recession is very insightful. I also think how Day takes apart Krugman is worth the price of the book. However, the best part of the book is the difference between the various schools of economics. I found his recommendations to fix the economic collapse to be rather stale and too much Ron Paulish.
John Schneider
Although I am a layman with respect to economics, I do appreciate insightful and clear thought. Vox Day manages to elucidate his views on the economy quite well in "The Return of the Great Depression." The book begins rather straightforwardly as Vox Day presents the typical way economists understand the economy in general as well as today's situation in particular. As the book progresses, however, Vox Day presents his own views on these matters, which are quite pessimistic. Not only does he beli ...more
Mike Gibbs
Day does a great job laying out why government policies attempting to promote an endless economic boom not only cannot work, but they guarantee that when the inevitable bust comes, the crash is directly proportional to the boom (and to the amount of work that is done to artificially keep the boom going).

Another important point that you will probably walk away from the book with is the inherent unreliability of the government economic statistics. These statistics are used by politicians to justi
...more
Gary
I can't claim to have understood everything the author presented (and suspect some sections would have benefited from further editing), but I really enjoyed and learned from his presentation of the Keynesian (fiscal), Chicago (monetarist), and Austrian (business cycle) schools. I'm not sure I'm all that enthused to read more books on macroeconomics anytime soon, but I do possess a better foundation to make sense of the related articles and postings I read.
Larry
A little beyond the scope of my knowledge on economic theory, but very readable and informative. Though the scope of the recent recession hasn't developed as predicted in the book, the underlying structural deficiencies are still there waiting for a collapse (as we see with the stock market dropping at the hint of an interest rate increase or suggestion of stopping QE).
Peter
Okay, so shoot the messenger if that be your way. If your bent is to actually want to make sense of economics and what is going on these days, read it. You might be better off for having done so.
Mark Williams
It gets a little verbose in explaining economic theories, but another good book in predicting the predicament the US and the rest of the world will soon face; Great Depression 2.0.
Tom
If this author is correct, we are soooo scr*w*d. Got gold?
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