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Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown
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Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown

3.46 of 5 stars 3.46  ·  rating details  ·  451 ratings  ·  115 reviews
From the authors who predicted with unmatched precision the domino impacts of the real estate, stock market, and other bubbles that led to 2008's market meltdown comes the definitive look at what is still to come and what investors can do to protect themselvesJust as many are wrongly forecasting a full recovery ahead, "Aftershock, " now updated and revised, warns of a very...more
Hardcover, 273 pages
Published November 1st 2009 by John Wiley & Sons (first published 2009)
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Cordell
I don't think I've ever given a one star review before but I will explain why I did here. Well over 85% of this book is a rehash of how awesome they think they were in their first book. The go over in detail chapter by chapter what has happened that they predicted would happen. But it is easy in hind sight to detail how correct they were in great detail. In face in greater detail than they predicted. This book is like someone in the second inning of a baseball game saying the Yankees are going t...more
Rory
I stopped reading this book a little more than half way through. The last straw for me was the recommendation to default on your home loan and credit card debt along with gifting all of your assets before declaring bankruptcy in an effort to protect yourself from loss. This of course was followed by a reminder that what really matters most in life is not money but our own personal integrity and how we interact with others around us. I may not be the sharpest tool in the shed but where is the mor...more
John Pombrio
This is the most important book you will ever read in your life concerning your economic future. Aftershock has affected me profoundly and has completely changed the way I look upon the government, the economy, and the future. It is very specific in its predictions and shows a brutal future for the economic wealth of not only the US but the world starting in the next 3 years and lasting for 20 years longer.

I have purchased 10 copies and sent them to my relatives and close friends. I have never...more
Jenna
With a couple of exceptions I disagree with most of what this book espouses, mostly the modern fable that economics should be a hard science of technical reason. This is delusional. Counting is scientific, but the minute you get people and psychology involved you move into the fetid swamp of human behavior and no mathematical data set is going to be able to predict that.

Also, the arguments in this book helped drag me into agreement that gold is valuable, though I hate the entire model and histor...more
Paula
The author's analysis of the current Bubble Economy is compelling. They don't hold out any hope for good times ahead, although they have ethically suspect recommendations for individual protection & prosperity in the coming debacle. Their argument, however, could have been condensed into a medium-length article. The constant repetition of points already made, & a fair amount of self-congratulatory "we got it right the first time, so you should trust us now" rhetoric becomes, finally, mor...more
Christopher
Ugh. First off, when you want to know the truth or hear "scientifically backed" predictions of the future, don't go to a salesman. Shamelessly after the end of multiple chapters they would end it by telling you to buy their financial services.

I only made it through chapter 3. Here are the three strikes.

Predicted inflation solely on the basis that Money Supply has been increasing without regard of the other economic forces that counter act a rise in Money supply. Remember the equation from your m...more
Marshall
This book makes an interesting case that the real estate market was only one of many economic bubbles to pop. The next two--the dollar and government debt bubbles--will make that one look like a blip by comparison. The prediction: hyper-inflation of 10%+ by the decade's end. This will cause everything to crash all at once. It will be the Great Depression all over again. The only place you're safe is gold and other precious metals, and shorting.

Though an interesting case, it wasn't a very strong...more
Lisa Cindrich
Hmmm. Well, I wasn't real thrilled about the 'you can call our investment firm for help on how to handle your money during the upcoming hellish times' advertising aspect, but...

It's a sad comment on just how pessimistic I feel about the financial state of this country that Aftershock actually seemed LESS gloomy than I'd expected. Granted, they are forecasting the bursting of the dollar and government debt bubbles, the destruction of the dollar as the world's reserve currency, double digit inflat...more
Jason
This is quite possibly the most important book that any layman can read today, about the future of America and the world's economies. There is little doubt that what is being said in this book will come to fruition. In their last book, they called the real estate and debt collapse of 2007 and 2008 with stunning accuracy, back in 2006! But as I and many others have thought, what happened in 2007 and 2008 was only but a tremor of the massive economic earthquake en route, which is the end of the de...more
Daniel (Attack of the Books!) Burton
I can't recall who exactly recommended this to me when I first picked this up back in 2010 or 2011, but I do recall the cautionary note that they took as they described it and the author's conclusions. The global recession had begun four years earlier, since which time I had just barely been able to sell a house (seriously--I closed the sale of the house the same week that Bear Sterns ceased to be), had graduated from law school at perhaps the worst time for new attorneys to be entering the work...more
Erik
A book about economics cannot really be a page-turner, but this book was gripping. A thriller? Maybe horror flick? The authors spend a good bit of time tooting their own horn about how good a job they did calling the 2008 meltdown in their previous book, America's Bubble Economy. However, I thought it was all to good effect; if half of what they claim is true, I had better listen to their message in this book, no matter how much I'd prefer to dismiss it. If half of what they predict comes true,...more
David Donhoff
Good, well-researched skepticism and contrarianism... the kind of stuff that keeps an investor from terminal drawdowns (risks-of-ruin,) and in position for the periodic "trade of a lifetime."

Having said that... there are a couple strong problems here... one very much forgivable givent he timing of the most recent edition (2011,) and the second glitch, not so much forgivable.

The partly forgivable is the most recent explosion of the digital hard currency markets, most notably bannered by BitCoin....more
Lori
Very interesting read, and certainly an eye opener. I do think it's very difficult to predict macroeconomics, and just because they got it right once doesn't necessarily mean they will continue to be right. The way they repeated that many times ("you better listen to us this time") was annoying.

That being said, I don't think this book should be disregarded - I would definitely recommend it to others. I think the authors make a lot of valid points that appear to ring true. Particularly the argume...more
Michelle
Even after reading just a few pages I think that the most overused word is bubble! I was already annoyed--but I kept reading.

I decided to write notes of particular interest to me:
The real scare of 2000 or Y2K as it was known was not loss of the world but a "gift" known as the bubble.
In a way we are destroying ourselves by not looking at reality or the facts of the economy--we are digging our own financial graves by not seeking out what could go wrong and instead giving into fleeting fancy. Not s...more
Skyqueen
I had read the 1st ed. and knew I MUST read the follow-up. Truly, shocking (the 1st) and so far it is still warning of dire straits soon ahead, but also gives hope if you will just pay attention, and not to the usual TV gurus who only want to tell you the optimistic outlook. Just have to get serious about finishing reading since the timeline for predictions is getting closer. A MUST read if you want to save yourself from world, financial calamity.

Finally got serious about reading. On Chapter 3,...more
Christina
This book was repetitive (halfway through, I cringed every time I read "multi-bubble economy") and vague. Plus it recommended a few unethical things about how to stay in your house even though it's being foreclosed on. However, I do believe the authors -- who correctly predicted the housing bubble back when everyone else said things were fine -- are absolutely correct in their concerns about the future of our economy and the crashes that are ahead. Basically, they see the huge amount of private...more
Mary Lou
Interesting thoughts on what our future economy will look like. All speculation, but based on good facts. I DO NOT agree with their look ahead on page 218, "There won't be a massive level of violence in the streets but there will be dramatically increased stresses on individuals due to the immense economic pressures. Divorces will increase and domestic violence will increase. Expect more killings of family and friends by distraught people who have lost so much economically, but still have plenty...more
Mary
Very interesting economics book. Given that their first book was dead on about the real estate, job market downturn, this book makes you wonder about the next four to five years. It has given me ideas (and time) to rethink current and future investments and purchases. Hopefully things are not as dire as the publishers speculate it could be. However, an ounce of prevention is worth a pound of cure.
Although it is somewhat laborious to read at parts, it is a fairly easy read vs. other economic boo...more
Jim
This is a typical doom and gloom financial outlook book. That I fell for hook, line, and sinker! They believe that there's going to be a government debt bubble burst and a dollar bubble burst. The government is printing money like it grows on trees and we're going to have to pay for it in inflation. Prepare for your stocks,bonds, and your house value to drop. Buy gold and coal companies (basic necessity that the US produces the most of and will be exported significantly in the future).
Jim
Don't buy the book!
I can tell you right here what it says

There are two more bubbles that will burst causing tremendous problems for the stock market, housing market and jobs.
They are the US Debt, and the value of the US Dollar.

While this individual has been right before, I give no advice on investing, as this book clearly is intended to do, yet it doesn't really. Its really a highly repetitive sales job. They must repeat themselves at least 50 times!
Terry Tisdale
Should be required reading for everyone. This book sets up what is GOING to happen to our economy. Read it and get prepared.
Robert Donaldson
Unfortunately, I believe this author is right about the future of our economy.
Proud2b4family
Jan 11, 2011 Proud2b4family is currently reading it  ·  review of another edition
I'm liking this book so far. It's written in layman's terms enough that I don't feel I'm being lectured by Alan Greenspan. The authors know their stuff. They've correctly predicted macroeconomic events about which others were in complete denial, or they missed entirely.

What is most convincing is their argument that the economy as we once knew it (a series of up/down market cycles) is forever gone. America went from an agrarian/industrial economy that could be predicted to a consumerism-driven ec...more
Mad Dog
Oct 08, 2010 Mad Dog rated it 4 of 5 stars
Recommends it for: anybody interested in reading economic predictions OR interested in a current economic theory
We have had one heck of a party and now we are just waking up hungover and tired. But as the morning goes on, that authors tell us that we are just going to feel worse. That is my book short summary.

One key feature of this book is that Appendices contain summaries and one could read just these summaries to generally understand the authors' economic theories.

I don't read many of these types of books for this primary reason: How do you do you deal with the barrage of information that you are getti...more
Chris Curtis
A fascinating, financial horror story. Written in late 2009, this book paints a bleak picture that could become reality for both the U.S. & world economy in just a matter of years. It’s an insightful look at our recent recession, how we could hit harder times than even the Great Depression, and how to prepare oneself financially for the tumultuous events they say lie ahead. Very sobering look at our future. Why take this seriously? Because they nailed the recession by predicting it before it...more
Dan Walker
The book contains a lot of good information, however it seemed to be extremely repetitive. I believe the authors would benefit tremendously by rewriting it with the help of a more experienced author. If nothing else, the most salient points could easily be put into an executive summary that would be, at most, a few pages long.

What I enjoyed learning from the book was not only their recommendations, but WHY their recommendations make sense. For example, their advice in a highly-inflationary envir...more
William
A timely warning about the collapse of the dollar because of our high public debt, and what that will mean for us in the near future. Fortunately the timing of their predictions seems a bit off, currently, even though the book was written only a year ago. But that is good, as it will give me a little more time to prepare.

As for style, the authors spend too much time praising themselves and their prediction history, and the content often seems to lack substance -- the advice to "buy gold" does no...more
Mary
This gets three stars for the usefulness of the information. His theories make a lot of sense and are things that I have been concerned about in a much less educated or comprehensive kind of way but more in a practical, you-can't-keep-spending-to-solve-fiscal-troubles-and-flooding-the-market-with-lots-of-new-money-causes-inflation-and-these-kinds-of-fiscal-policies-are-going-to-come-back-and-bite-us-one-of-these-days kind of way. Everyone should be paying attention to this book.

However, he kept...more
Margie
Apr 22, 2010 Margie rated it 3 of 5 stars
Recommends it for: Americans who want to hope for the best but prepare for the worst
I read as much as I could before my husband asked me to quit reading it. He said it was making me angry and upset over nothing. He got the first part right. The predictions are harsh and some will not want to hear and some will think the book itself is a money-making scam. I think these financial folks, even though they are making money with the book, still have a good point and that their predictions are probably pretty close to what is in store for us. At the very least I already believed we w...more
Andrew Crouthamel
Lots of boasting involved since the authors successfully predicted the financial crash and Great Recession. Regardless though, there is a lot of interesting data and reasoning throughout and worth a read. Their doom and gloom predictions for the future though do not yet seem to be coming true, so hold off on selling all your possessions.
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Aftershock Revised and Updated The Aftershock Investor: A Crash Course in Staying Afloat in a Sinking Economy Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown Aftershock America's Bubble Economy: Profit When It Pops

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