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Crash Proof: How To Profit From the Coming Economic Collapse
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 ser...more
Audio CD, 0 pages
Published
May 1st 2009
by Your Coach in a Box
(first published February 26th 2007)
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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 ha...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 ha...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.
...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.
...more
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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
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 ca...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 prett...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 prett...more
Todd
rated it
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review of another edition
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review of another edition
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/pred...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/pred...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 downfa...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 producin...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 f...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 f...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...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 thin...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.
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.
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...
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 ha...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 ha...more
Dated now (published in 2008 I think?) but updated version is available (Crash Proof 2.0, perhaps also dated by now). Schiff was, and continues to be, somewhat prescient about our turbulent economic times.
So this is Mike's new favorite book, I only skimmed some of it. However, it definitely has some great ideas and we are putting many of them into action to swim through this economically scary year.
Schiff called the last two bubbles long before the intelligentsia even imagined it. I ran out and bought 3500 dollars in precious metals after reading this book.
Vickie Johnson
rated it
·
review of another edition
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review of another edition
Recommends it for:
those who wish to hedge financial loss.
Unfortunately, a very prophetic book that has had predictions (and remedies) come true on several levels.
Happy to lend out to local friends.
Happy to lend out to local friends.
Only Wish I had read this book 2 years ago. I would have been aware of the financial collapse on the way and how to use it to make a profit.
Again, very scary look at US economy. Only weakness is that it doesn't provide the other side of the argument, assuming there is one.
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| Has anyone read his latest book? | 2 | 12 | Aug 24, 2011 01:09pm |
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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...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...more
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