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31st out of 78 books
—
102 voters
Crash Proof: How to Profit from the Coming Economic Collapse
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 wh...more
Hardcover, 272 pages
Published
February 1st 2007
by John Wiley & Sons
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Rare five star rating. Peter's book gives you a blue print to protect and grow your wealth by moving your assets out of the dollar and into other foreign currencies.
If you read just one book this year, make it this one, and then act!
Peter Schiff predicted the failure of Fannie Mae and Freddie Mac, the housing bubble bust, and the decrease in the value of the dollar. No, he's not a magician, he takes what a reasonably educated person can see: the 'fake' economic growth the US has experienced the...more
If you read just one book this year, make it this one, and then act!
Peter Schiff predicted the failure of Fannie Mae and Freddie Mac, the housing bubble bust, and the decrease in the value of the dollar. No, he's not a magician, he takes what a reasonably educated person can see: the 'fake' economic growth the US has experienced the...more
This is book gives a quick lesson on what's happening to the economy, what's going to happen, and what to do to prepare for it. He's a good writer and he explains exactly and succinctly what's going on unlike those talking monkeys on CNBC and other money channels.
If you ever wonder why things are never getting better, why exactly does the "business cycle" happen, why the banks are losing money and the government is bailing them out... you need to read this book.
The United States is heading towar...more
If you ever wonder why things are never getting better, why exactly does the "business cycle" happen, why the banks are losing money and the government is bailing them out... you need to read this book.
The United States is heading towar...more
This quick and easy read discusses the current state of financial affairs in the Western world today. It mostly details what's problematic with our financial situation in the United States, and doesn't offer as many solutions to this as the title implies. It seems to be an advertisement for the author's foreign brokerage firm, since that's the main solution presented to surviving the coming economic collapse. However, it's worth reading to get an understanding of the current challenges facing ou...more
First, Schiff deserves a round of applause from anyone serious about the future of the USA and its economy. He was one of the few people (the excellent Karl Denninger is another) who accurately predicted the scope and scale of the credit crisis, and then sent a year and a half trying to get his message out to virtually no avail. Schiff is not a professional Cassandra like Paul Krugman, who has spent the last 8 years issuing vague declarations of impending doom (and who has been engaging in Enron...more
This is a really good book full of insight about what's happening right now from a very smart man who wrote it years ago. Nearly everything he talks about in this book is happening, and for the very reasons he said it would.
I haven't read 2.0 yet, which is the sequel to this book, but I imagine that one is very similar with more discussion of things taking into account the current situation and what in the first book already has come true. Hopefully though, in the new book he makes a more seriou...more
I haven't read 2.0 yet, which is the sequel to this book, but I imagine that one is very similar with more discussion of things taking into account the current situation and what in the first book already has come true. Hopefully though, in the new book he makes a more seriou...more
Not only does the author make some quite strong and sensible points, but more than that I am impressed by the fact that he manages to do it while staying away from the temptations of being alarmist and sensationalist in his techniques, on the contrary taking a very rational calculating approach and proposing what one could do to protect themselves, even having the courage to add "if he was right" assigning probabilities to different outcomes. I much more trust somebody who assigns a calculated p...more
The title says it all: this book forecasts a drastic fall in the economic worth and viability of America and what to do to protect your assets.
Is it wrong? No, but this is an extreme view. Any rationale person can/could see that the "party" of American finance and debt could not go on forever. Because it was written just as the initial wave of turmoil was hitting the markets, there is a lot of conjecture and prediction about the shape of things to come. But, it's pretty close.
Sure the obvious ta...more
Is it wrong? No, but this is an extreme view. Any rationale person can/could see that the "party" of American finance and debt could not go on forever. Because it was written just as the initial wave of turmoil was hitting the markets, there is a lot of conjecture and prediction about the shape of things to come. But, it's pretty close.
Sure the obvious ta...more
Sep 30, 2008
Todd
rated it
5 of 5 stars
Recommends it for:
People who want to protect their family's wealth
Recommended to Todd by:
Found it on the web
As the markets crash a lot of finger-pointing has been going on. Many people are wondering how in the world we got to a place with this big of a mess in the first place...
Unfortunately, this guys seems to have some answers as to why and they are not fun to hear. The book was written sometime in 2005 and his predictions (financially speaking) have been coming true....
Not fun to hear but good to know.... avaiable on Audiobooks also....
Unfortunately, this guys seems to have some answers as to why and they are not fun to hear. The book was written sometime in 2005 and his predictions (financially speaking) have been coming true....
Not fun to hear but good to know.... avaiable on Audiobooks also....
*personal review
It's now about 2 years since the publishing of this book and Schiff's predictions seem more and more likely to become true. However, with most predictive economic doomsday books, I read it with a healthy amount of scrutiny. Still, Schiff raises some very interesting and true points/predictions about the collapse of real estate, impending inflationary pressures and economic/political tensions with our nation's creditors. The book is well balanced between theory/prediction and prac...more
It's now about 2 years since the publishing of this book and Schiff's predictions seem more and more likely to become true. However, with most predictive economic doomsday books, I read it with a healthy amount of scrutiny. Still, Schiff raises some very interesting and true points/predictions about the collapse of real estate, impending inflationary pressures and economic/political tensions with our nation's creditors. The book is well balanced between theory/prediction and prac...more
This was the first investing book that I actually was interested in while reading. The reason is, it was the first investing book that I have read that approaches Federal Reserve with the understanding that it is a counterfeiting cartel protected by government and that Social Security is the biggest Ponzi scam ever done in all of human history. The book also is upfront in pointing out that excessive government spending, dept, and regulations of the economy is the cause of the inevitable downfall...more
Reading this book a couple year's after it was published shows that many of Schiff's preditiction were correct although not all to the extreme that he has predicted. This may mean that it will never happen or maybe it just hasn't happened yet. Either way, I think he makes a very compelling argument to place part of your portfolio in gold and foreign stocks with a high dividen yield. The gold as a speculative bet against the value of the dollar and the foreign investement as an income producing i...more
The first two thirds of Crash Proof is a persuasive argument that there are (in 2006) impending dark times for the United States. The last third is a set of explicit steps you can take to protect yourself (or even profit) if the first two thirds are right.
Reading this book in 2011, it's even easier to be convinced that Schiff may be right because some of what he predicted has already happened. He was right about the housing market and he was right about gold prices.
So far, his biggest prediction...more
Reading this book in 2011, it's even easier to be convinced that Schiff may be right because some of what he predicted has already happened. He was right about the housing market and he was right about gold prices.
So far, his biggest prediction...more
The amazing thing about this book is that it was published in 2006, a full year at least before the mainstream media began to notice cracks in the facade of the nation's economy. The book is written in very plain language (sometimes the analogies are a bit hokey) but with the intent of making the information completely accessible to everyone. I give Peter Schiff four stars for this endeavor because he was pretty much right on the money with his predictions of the circumstances that would soon ex...more
This book provides very common sense answers to the financial problems that are currently plaguing our country. Schiff brilliantly analyzes the current situation and gives a very thorough explanation about how we got ourselves into the mess we are in. Schiff explains that we have gone from the worlds biggest creditor nation to the worlds biggest debtor nation and what our trade deficits mean for the future of the US dollar. His GDP and inflation explanations are particularly disturbing when you...more
The most interesting economics book I've read. It actually made economics more enjoyable. Interesting for what we are going through right now in our economy too.
Why did I not discover this book in 2006 or 2007? Schiff understands basic economics (unlike most people), and he knows his stuff well enough that in 2006 he predicted the bursting of the housing bubble and the rise in gold prices, both of which predictions have come true. He also predicted the collapse of the dollar, which has not yet fully taken place but is well underway. The U.S. economy is a house of cards, its support beams all rotted away by socialism, Keynesianism, and the excesses of de...more
Peter Schiff writes with confidence but that doesn't make him right in predicting a global economic crash. I learned a lot about monetary policy but Schiff put up a straw man just to knock it down. Yes, there is a lot of debt in America and we don't produce as many products as we used to, but Schiff makes it sound like we are like Brazil and produce only a few exports. That is a gross exaggeration and over-simplification. HIs investment ideas were interesting but the bottom line was he thinks yo...more
This is a very timely book that takes a step back and looks at what is happening to the economy. All is not lost. You can take some positive steps to insulate yourself from the coming economic catastrophe.
The book is a little pendantic in explaining the economic problem but if you are persistent in following along it makes sense. The last few chapters touch on ways to benefit while the United States deals with its economic problems.
The book is a little pendantic in explaining the economic problem but if you are persistent in following along it makes sense. The last few chapters touch on ways to benefit while the United States deals with its economic problems.
This book, of course, would have been a better and more important read a couple years ago. It holds up well in retrospect, with the collapse already in full swing. Much of what Schiff anticipates has already happened, but much is yet to come. I think he probably saw a more rapid collapse than we now know he should have.
This is a good introduction to what is happening, but there are better ones, and shorter ones.
This is a good introduction to what is happening, but there are better ones, and shorter ones.
This guy had some interesting advice about how to prepare financially from the tough economic times ahead. He said to invest in foreign stocks because the US economy is suffering and will crash eventually. He said to invest in gold. Lastly he said to stay liquid so you can move your money into other financial vehicles quickly. Not my favorite book, but some decent financial advice.
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Found this book insightful and eye opening. The one question I've always had is why don't most people learn from history. Schiff certainly has. I'll definitely be bringing up his suggestions to my advisor. Even though I'm Canadian, his ideas should save me in the future.
Thanks for the taking the time to write this book. Looking forward to the updated release.
Thanks for the taking the time to write this book. Looking forward to the updated release.
Schiff was one of the few people to properly predict & profit off the crash on 08. In this book he explains details of what will cause crash (written in 07) & how to protect yourself when it comes. Great read for anyone who is interested in investing or doesn't want to see savings wiped out when the next crash arrives.
Written back in 2006, correctly predicted the housing bubble. Since then Schiff has been predicting correctly just about everything. Not great for beginners, but not too advanced. I only wish I had some money to invest as suggested.
What a depressing book! The author recommends disbanding the Fed, investing in nearly any currency other than the dollar, and tells us that the economy is so close to collapse that we ought to run for the hills. I sure hope he's wrong!
There is some interesting information on inflation, the Fed, and how messed up our current economy is. He spends the second half of the book talking about how his firm will save you. I don't think anyone will save us...
Jun 03, 2012
Tell You
added it
I love the book. It breaks down how the US went from the world's leading
creditor to the world's leading debtor nation in just 40 years. It also
explains how inflation is going to destroy the economy. Great read.
creditor to the world's leading debtor nation in just 40 years. It also
explains how inflation is going to destroy the economy. Great read.
This guy messes up simple economics many times throughout the book, and even though he comes to the same conclusion as everyone else has by now (and much less eloquently) I can't say it was worth reading at all.
I good book, much of which has played out to be correct. I read this when it was a 'nutter' book and the real estate boom was in full swing. Still has good info for even after the global depression starts.
A great insight into the US economy and the half-truths we've been told. Schiff does an excellent job of educating the reader in basic economics, and then confronts the current myths of our markets head-on. This book is well-organized and actually very easy to read.
About a quarter of the way through I thought, "Wow I've heard Ron Paul say a lot of this stuff." and then I looked up Schiff online and found out he was Paul's head economic advisor. The things these guys have been saying about the U...more
About a quarter of the way through I thought, "Wow I've heard Ron Paul say a lot of this stuff." and then I looked up Schiff online and found out he was Paul's head economic advisor. The things these guys have been saying about the U...more
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| Has anyone read his latest book? | 2 | 14 | Aug 24, 2011 01:09pm |
Peter David Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the United States Senate seat from Connecticut.
Schiff is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut and CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City....more
More about Peter D. Schiff...
Schiff is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut and CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City....more
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I agree with most of Schiff's book except for a few points.
1. Japan is very regulated and highly taxed and has a 160+% national debt/g...more
Jun 15, 2008 09:32am