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

Apr 06, 2013 Al Peschel rated it 5 of 5 stars · review of another edition

Shelves: financial

978-0-470-91814-2 Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown

Disclosure: My personal credo: Keep agreements once made - never encroach persons or property - promote understanding and kindness

So far so good - need to finish it -- I don't mind the promotions at all - good info on what stock sectors will signal the start of the massive stock decline (consumer: discretionary) - they recommend getting out of the dollar into gold - this is tricky now since FED is doin...more 978-0-470-91814-2 Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown

Disclosure: My personal credo: Keep agreements once made - never encroach persons or property - promote understanding and kindness

So far so good - need to finish it -- I don't mind the promotions at all - good info on what stock sectors will signal the start of the massive stock decline (consumer: discretionary) - they recommend getting out of the dollar into gold - this is tricky now since FED is doing its all to trash all gold investments - and of course there is the Cyprus Syndrome in slow motion - inflation tax - people don't even realize that the gov't took over 70% of their savings purchasing power since 1980 (admittedly this not overnight confiscation)

Their prescription is difficult but makes sense: sell stocks, sell real estate.-- actively manage T-Bills, forget banks, get into gold bubble assets then get out, watch confiscation & capital controls (all very scary stuff) 2007-2009 was just a warning - no one is taking it seriously

Good comments on economics - but not very good at geo-political causes -- it is the Petrodollar War with Iraq - Iran that will trigger our economic decline... recall how Bin Laden masterminded his declared war on America (blowback triggered by Qana) using the Petrodollar war concept. Soon history will declare he personally brought down the two major superpowers-
From a well-reasoned left-wing point of view see also
Petrodollar Threat

It is the debt that is mounting - the FED finances these unnecessary wars (the COLD WAR was necessary) - this creates financial bubble crashes - now that the dollar will be losing status as world's reserve currency we are truly done - the only way out of a wild inflation will be to re-monetize into gold at over $4000+ per ounce.- Germany just asked for their bullion held in New York (it takes so many years suggesting the gold isn't really there? - Germany is #2 in gold holdings behind USA with China right there)

THE TRIGGERS: The Petrodollar War is now really on as Iran has de-facto opened the oil exchange that would trade oil in currencies other than the dollar - given that now Australia and and China will not use the dollar for trading, the USA is financially doomed - our FED is now literally "printing" 40% dollars to finance our $16 B+ ACCUMULATED deficits (not the annual one, which only adds yearly to it) That triggers inflation which now is about 6% , not 1% Congress has only agreed to slow planned increases. Social Security payments may not cover postage expense in 15 years - they just decided to change the CPI peg for lowering planned increase in spending

FED's Bernanke ("Helicopter Ben")is juicing stocks to promote a "wealth effect" - some modest success - BUT bubbles always burst - perhaps next week? The burst in the Bubble in Stocks (projection below DJIA 6000) and the Dollar will really hurt us all - naturally, particularly the poor.

Sad - our economic sanctions against Iran have destroyed Iran's economy (inflation 30+% -- no meds for children) - there will be a huge blow back someday for this -- our initiating covert attacks will make it look publicly like their defensive response will be assumed by our public to be an attack - everything we are doing is to inflame & seek an aggressive response (nuclear weapons? - 16 intel agencies claim no evidence for it - logically if you have no program it isn't possible to prove you don't have one) War in Syria and Iran and North Korea will be very expensive.

Am angry.... we should all be -- our geopolitical Mideast foreign policy has been hijacked by Neocons - has bankrupted us and we will pay for blowback big time
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Mar 21, 2013 Dave rated it 4 of 5 stars · review of another edition

Shelves: business, economics

You should read this book right away. I thought this was great, but I'm sure that critics will place it in a category of fear mongering. I recently finished Currency Wars too, and I think that book approached things from a more theoretical side; whereas Aftershock tries to approach things from a more practical side. There were plenty of issues that I had with the authors' presentation: the numerous interruption to be redirected to their website; the numerous self-congratulatory foreseeing of the...more

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Sep 29, 2012 Michelle rated it 4 of 5 stars · review of another edition

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 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 surprising to me at all.

P.58-60 "Stimulus spending isn't how a strong no bubble economy is created in the first place." I knew I wasn't weird for being uncomfortable with the government handing out stimulus checks...it's just hard to believe I'm the only one.

P.86 "Shadow Government Statistics" CPI-- primary measure of inflation is changed to make us feel inflation is less than it is; but it is numbers that have been molded by parameters that have been purposefully changed in order for the end result to be more promising.
P.161 I can check out aftershockeconomy.com to look at their take of current economy events and support.
P.166 Low fixed rate mortgages for a home only. Glad I haven't bought one yet. Guess I'll wait another decade.
P. 181 Only term life insurance. Put investments into gold or foreign currency (p.193). ETF's.
P.205-207 Gold bullion -- coin dealer or on line.
P.231 Those currently influential in economics, including professors, are to blame for our current state on belief in this massive lie-- they prefer to feed recent history to people than how economics actually work. It is a failure to learn, acknowledge, or educate others on fundamental economic principles.
P.233 A good book for noneconomists to learn about economics: The Worldly Philosophers by Robert Heilbroner.
P.238-239 Economics has the same problem of other fields such as psychology: statistical correlation versus causation, and statistics created in this field that are just as vulnerable to manipulation to show what you want to show. Additionally, they are relying on 30 year old models of thought, despite all the supposed (and expensive) research thrown its way in the intervening years. Many academic fields face the same problem. We study a single tree in the forest of our profession. It is important to be creative and question the status quo (sounds like "Unprotected", a book I read earlier on how such thinking has interfered in providing actual and important health information to college students because it would fly in the face of the status quo and the louder but smaller political special interest groups who intervene.)
P.247 It is interesting to note that economic systems evolve, not endlessly cycle. Even if a certain event occurs again it does not mean the surrounding conditions are the same, no matter what field of study.
P.242 Sounds like we can expect fewer economists in our future! (P.261: Economists these days are like witch doctors to our current field of medicine; they make you feel better but that's about it.)
P.248 Understanding how people (the human brain) learn is important to economics. This is how economics overlaps with psychology--it also overlaps with other fields (science, physics, engineering, law, ethics, philosophy, sociology). I think to some extent also history but without falling into the trap that historical and modern events can be handled the same or that their outcomes will be the same. Property rights and other working components in efficient modern-day economics evolve (or they should) as our technology evolves.
P.260 No one wants to listen to someone that later recants their earlier optimistic (or believable in the current psychology of participants in the field) view. Just like how Darwin recanted the evolutionary existence of the world that he wrote about in his well-known book. (It is too difficult for me to believe that a world in all its perfect complexity had as many right "cosmically" occurring events to get the kind of perfect detail and systems synchronization that we see and study in the various fields today. The passage of even great periods of time or one cosmic event [i.e. a big bang] are not capable of creating what we see in our world today.)
P.268 They mention that many economists bring up solutions that would have worked in the Great Depression instead of seeing how our situation now is quite different. They compare this with how a successful general wants to keep coasting on the success of his previous war or battle by ignoring the current situation and applying the now irrelevant solutions to the current problem. Sounds like what I have heard of General MacArthur who, despite the successful decision to do the Incheon Landing during the Korean War, made the bad decision later to ignore or disbelieve the massive presence of Chinese soldiers in Korea which cost us a lot of American military lives.(less)

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Jul 06, 2012 Lisa Cindrich rated it 3 of 5 stars · review of another edition

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

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Apr 08, 2012 Cordell rated it 1 of 5 stars · review of another edition

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

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Sep 03, 2011 John Pombrio rated it 5 of 5 stars · review of another edition

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 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 done anything like this before. I doubt any of them will read it (let alone believe it) but I at least gave them the chance to prepare for such a bleak future. I do not want the future of this book to be true but I simply cannot ignore it just to help me sleep at night. I scoffed, resisted, denied, but finally accepted that Aftershock makes the most sense of what I see happening today and what I see will happen in the future.

By no later than 2014 inflation will rise dramatically, the dollar will pretty much collapse as a strong currency,and the national debt (along with the US government) will be in default. The resulting drop in trade, wealth, housing prices, jobs, and business will affect everyone, everywhere.

Are the authors insane? How could they be so cocky in predicting what NO ONE ELSE seems to even think about? Could all the economists, the Fed, the bankers, and the market leaders all be so blind? Yes they can be blind, for we are in a place in history that we have never, ever been before. This is no recession and certainly no "cycle". This is completely new, this is real, this is ugly, and this will happen just as the authors say.

Once I had read the 2nd version for the second time (and the 1st version once), I started to see exactly what the authors are predicting coming true in the headlines daily. I too share the writers disbelief in how narrow people views are (and who should know better) and how they can ignore what is so obvious.

The news writes the story of the coming economic collapse in exactly the same way Aftershock does, but changes the ending to make everything OK so people feel good. NOT ONE politician, journalist, or economist dares to even utter a word about a future where everything will not turn out OK. So many people will be taken completely by surprise by theses experts, leaders, and news-writers failure of their jobs at the most fundamental level. Look how well they warned us about the banking fiasco for an example of how well they do what they are paid to do.

You should read the book. You may not believe a word of it, may laugh at the bizarre predictions, or just ignore the message it gives. That is fine, at least you will be in some way prepared in case it unexpectedly comes true. If you, like me, find the story rings alarm bells, you can even plan ahead for this bleak future. The worst decision would be to not read the book and be blindsided with all the economic pain and suffering for you and your family.
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Jul 10, 2011 Lori rated it 4 of 5 stars · review of another edition

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

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Feb 21, 2011 Chris Curtis rated it 3 of 5 stars

Shelves: finances-money-financial-advice

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

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Jan 30, 2012 Paula rated it 2 of 5 stars · review of another edition

Shelves: non-fiction

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 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, more annoying than instructive.
Interesting in light of Obama's 2012 State of the Union speech with its emphasis upon productivity. Authors claim that only "real" growth can soften the bursting of the final of 4 economic bubbles to burst (real estate & stocks in 2008; US dollar & debt on the horizon). They expect too little too late, however (a bit like mitigating the consequences of Global Warming or Climate Change). Neither the authors nor the President, however, speak to environmental limiting factors to Growth. To my mind, these remain the elephant in the room that no one fully acknowledges. A capitalist (even a communist) economy is predicated on growth, not sustainability. Continuing increases in GDP require either more consumption by existing populations (since there must be an upper limit to need, even perhaps to want, such increases necessarily must reach an end, where all needs are met, where consumption reaches its saturation point) or continual increases in global population that would create new consumers (here we run into the carrying capacity, however defined, of the planet). According to some, at 7 billion world population we've already exceeded the Earth's carrying capacity by as much as 5 billion!
In the short term, increased consumption can arise from more equitable distribution of income and wealth, which would create billions of "new" consumers. Also, "new" products to meet infrastructure & "clean" energy demands might impact both demand for goods and somewhat mitigate environmental damage. The risk of environmental collapse won't go away however. In the long term, we have to move from growth to sustainability, from population increase to population decrease (unless, as some suggest, we develop the capacity to colonize another planet).

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Oct 08, 2010 Mad Dog rated it 4 of 5 stars · review of another edition Recommends it for: anybody interested in reading economic predictions OR interested in a current economic theory

Shelves: finish-someday, non-fiction, business

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 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 getting?? It would take quite a bit of time to validate all of the assertions that this book makes, and that other books like this make. Do you put your faith in the authors?? Do you spend a bunch of time validating the authors' assertions??

In this book, it seems like there is one premise that is a bit flimsy: The authors have had one HIT and we are to trust that they are not "one hit wonders". The authors HIT it big with their prediction of the post-2006 meltdown of the housing market and financial industry. Now we should trust that they are going to hit it big with their dire predictions of economic gloom and doom. Among many gloom and doom predictions: 40-60% unemployment is coming 'soon' (although I have not gathered yet what 'soon' means). That is a hard one to swallow. I don't understand how they could predict this (dramtic rise in unemployment) but then predict that there will not be much of an upturn in crime. Their prediction of an upturn in family vs. family crime (without a corresponding upturn in 'general' crime') makes not much sense to me.

The authors sure seem confident (cocky). They speak with great certainty of their predictions. Given the uncertain nature of all this stuff, a humbler approach would seem more fitting. This "we are sure we are right about this" approach is a 'turn off'.

On the 'plus side' (if that is the right term), most of the 'bubble bursting' assertions (in this book) make sense. But I could probably read most any economic book and believe that it makes sense (me being an economic rube and all). I am inclined to believe the authors, as it makes sense to me that the party (of the U.S. economy) now needs to be paid for. It sure does seem to me like we have relied too much on debt to fund our standard of living, so a 'correction' makes sense to me.

It would be great to read a book like this where opposing views are presented and there would be more of a discussion than a sermon.

Essentially, this is a book of predictions. So the ultimate rating of this book lies in the results - especially for those who took the actions prescribed in the book. The book suggests selling stocks, buying gold, selling 'extra property', etc. And then wait for the bubbles to burst to re-enter stocks and real estate. They did not give an exact time frame for the bubbles to burst, but all of the bubbles should burst in the next 1-4 years (a pretty wide time frame). The authors did provide a website to keep track of the 'bubble bursting status'. So lets see what happens. I am 'taking this book under advisement' with regards to taking action on my family's finances.

I am blessed (or cursed) with a recent apathy towards the economy and my standard of living. So I am more bemused than alarmed when reading this book. Even so, I will probably be reading a more optimistic economic book soon. Is The Rational Optimist a good book?

I didn't read all of this book (but I read most of it) as I had it on loan and had already kept it too long. I'll finish someday. I am glad for reading from it. It is interesting.(less)

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Dec 06, 2012 Christina rated it 3 of 5 stars · review of another edition

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

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Dec 31, 2011 Christopher rated it 1 of 5 stars · review of another edition

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

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Jan 09, 2012 Dan Walker rated it 3 of 5 stars · review of another edition

Shelves: economics

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

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Nov 15, 2011 Rory rated it 1 of 5 stars · review of another edition

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

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Nov 01, 2011 Jason rated it 4 of 5 stars · review of another edition

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

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Nov 08, 2011 Jenna rated it 1 of 5 stars · review of another edition

Shelves: economics, non-fiction

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

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Dec 08, 2011 T.A. Brown added it · review of another edition

David and Robert Wiedemer often remind the reader of their classy record of predicting economic events. They talk about "bubble economics." So, they note that the real estate bubble popped (just as they predicted) in the fall of 2008. Now, in this writing they predict the dollar bubble will pop and near to that the government debt bubble. Either, or both, will mean the transformation of the US economy into a banana republic (or something to that affect). They offer ways to prepare and handle the...more

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Sep 22, 2011 Debbie rated it 4 of 5 stars · review of another edition

There is a lot of good information in this book. I don't agree with everything they say. This book will help the layperson understand what is really going on with our economy and it ain't pretty. I read the 1st edition. The 2nd edition leaves out Chapter 10 from the 1st edition which I think is important to read. I think they do that on purpose so that you will want to also buy the 1st edition. Throughout the book the authors are making a plug for their future books and subscription newsletter w...more

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Sep 04, 2011 Khalid Khan rated it 3 of 5 stars · review of another edition

This book is low on research and high on opinions. The common sense ideas are appealing but suffer from the very problem that the book set out to address i.e. limited view of a major situation. It predicts are US Govt Debt Default and Dollar crash and then goes on to predict what will happen in the US. Totally fails to account for the rest of the world - a US Default would lead to more than just economic consequence. The fall of the British Empire was more than an economic downturn it was a majo...more

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Jan 11, 2011 Proud2b4family is currently reading it

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

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May 23, 2013 Jim Dressner rated it 3 of 5 stars · review of another edition

Shelves: non-fiction

The authors say the worst is yet to come when the bubbles of government debt and the dollar deflate, and 10% inflation hits--the result of massive quantitative easing. The authors correctly predicted the "pop" of the housing and stock market bubbles in 2008, so their predictions may be worth careful consideration. On the other hand, the chances of getting two predictions correct may be lower than they think; lets hope so. I don't know enough economics to discern the holes in their theory; my cou...more

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Jun 28, 2010 Mary Lou rated it 2 of 5 stars · review of another edition

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

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Apr 15, 2011 Andrew rated it 3 of 5 stars · review of another edition

Shelves: economics

WARNING: THIS BOOK IS FAR MORE SCARY THAN STEPHEN KING

While reading this book I sometimes felt it belonged more in the horror genre than economics. At the same time I must add that I did in fact learn a great deal about certain subjects within the field of economics that I knew very little about. And I came away with a much better understanding of the root causes of our current mess. While I would recommend this to mature readers I would remind them and the authors that it does NOT say on our m...more

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Oct 25, 2012 Marshall rated it 1 of 5 stars · review of another edition

Shelves: economics, non-fiction, money

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 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 one. It certainly made me pay more attention to the huge government debt and reckless money printing by the Fed. I do agree there will be some inflation ahead. 10%? Another Great Depression? Probably not. Maybe it's just wishful thinking, but I'll give you my reasoning.

1. I have a good bullshit alarm, and it was ringing a lot when I read this book. It reads like an infomercial, at least in some places. There are three authors, and maybe only one of them makes me squirm the way a used car salesman does. And whenever I start thinking, "wow, it's going to be tough to find safe investment opportunities in this new economy we'll be in!" I would see a little blurb about their financial planning firm. Probably not a coincidence.

2. I doubt their authority. The book is based on the premise that the whole field of economics is out to lunch, so you shouldn't trust them. Instead, trust these three folks. Wait, who are they again? Oh yeah, the infomercial people trying to sell me their investment advice. Their reasoning: they predicted the first financial meltdown, whereas the economists were dead wrong. That's called anecdotal evidence. One correct prediction is not enough for me to throw away all the investment wisdom I've gotten from academic economists, and trust in three obscure financial planners.

3. Though they differentiate themselves somewhat from the other Chicken Littles like Peter Schiff, they do sound a lot like the loony Austrian school of economics, who insist the sky really is falling if only the government would let it. To some extent, there is sound economic reasoning beneath it--like the dangers of printing money causing rampant inflation. But I understand trade-offs, and I'm quite sure the Fed does too. Healthy markets are based on trust and safety. Panics erode that trust. Do I completely trust the Fed to get it right? No. Do I trust them more than these three clowns? Absolutely.

4. Gold is a bubble too. It's such a bubble that the last couple centuries of gold prices look like a flat line by comparison to the last decade. These authors admit this, but they say that the other bubbles will collapse first. So invest in gold, wait for the other bubbles to pop, let gold really skyrocket, and then get out before everyone else! Except that's probably what "everyone else" will be thinking too. Gold feels much less safe than stocks right now, especially since stocks are productive businesses, whereas gold is just a rock. Maybe there's nowhere safe to put my money except under my mattress. Oh, wait. This hyper-inflation will destroy that too. My bet? The same one economists have been pushing since before economics existed, in fact all the way to the dawn of modern civilization: diversification.

I might be wrong. If I am, I will regretably eat my words, and will take a long hard look at these Austrian economists. I hope I won't be too busy hoarding food rations to update this review with an apology and a five star rating.(less)

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Jan 28, 2012 Sophia rated it 3 of 5 stars · review of another edition

An interesting and enlightening read, however the level of repetition gets terribly annoying, particularly if you're tackling it as an audio book. If I had to hear the narrator say the words "falling multi-bubble economy" one more time I was going to scream. I dragged myself to the end out of sheer stubbornness. There is no doubt that Wiedemer has a unique and important insight into the American and world economies. However with his next book he would do well to hire a more thorough editor to cu...more

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Aug 11, 2012 Skyqueen rated it 5 of 5 stars · review of another edition

Shelves: must-read-soon

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

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Oct 08, 2010 William rated it 3 of 5 stars

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

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Mar 29, 2010 Mary rated it 5 of 5 stars · review of another edition

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

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Mar 12, 2012 Jim rated it 4 of 5 stars · review of another edition

Shelves: non-fiction

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).

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May 22, 2012 LasVegasBookie rated it 3 of 5 stars · review of another edition

The basic premise of the economy going to hell in a handbasket is compelling and may well be right on the money (no pun intended), but the book is annoying. The repetitiveness and their self-congratulatory assertions over and over, well, it got very hard to take. I also felt like there were constantly trying to sell me their services, which made the book suspect. Still, I think people should read and consider what is presented. I am rethinking my investment strategy.

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

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