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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

3.47  ·  Rating details ·  928 ratings  ·  141 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 themselves Just 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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Average rating 3.47  · 
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 ·  928 ratings  ·  141 reviews

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Nov 07, 2011 rated it did not like it
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
Apr 08, 2012 rated it did not like it
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
Jun 19, 2012 rated it did not like it
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
John Pombrio
Sep 03, 2011 rated it it was amazing
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
Oct 21, 2011 rated it did not like it  ·  review of another edition
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
Jay Pruitt
Apr 01, 2020 rated it really liked it
Written a few years ago, Aftershock can now be described as prophetic, as we begin to see the 2020 bursting of the credit bubble. While everyone observes the devastating economic impacts of the Corona Virus, I believe that few have anticipated what is yet to come. History books will show that the "lockdown" was simply a catalyst for the ensuing credit crisis and recession. This book describes the current precarious financial condition of US corporations, which used excessive leverage over the la ...more
Paula Koneazny
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 annoyi ...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
Dec 31, 2011 rated it did not like it
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
Jul 10, 2011 rated it really liked it
Shelves: non-fiction
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
Oct 25, 2011 rated it really liked it  ·  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
A.J. Deus
Aug 25, 2013 rated it it was amazing  ·  review of another edition
Extremely Smart Rhetoric — But Not Smart Enough Science

I have to hand it to the authors of Aftershock: they can hammer a point across. This work was certainly written by one smart, little gang, and it is hard to argue their success. While I do agree with the book’s general view that a series of bubbles could pop and send the world’s economy into a vicious cycle, I am not so sure about the reliability of its methods or of its predictions. First off, any economist that claims to understand the eco
Sep 29, 2012 rated it really liked it  ·  review of another edition
Shelves: edification
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
Daniel 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
David Donhoff
Apr 22, 2013 rated it liked it  ·  review of another edition
Shelves: business
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.
Dan Walker
Dec 23, 2011 rated it liked it
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
Sep 16, 2011 rated it it was amazing
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,
Dec 06, 2012 rated it liked it
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
Jun 10, 2010 rated it it was ok
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
Mar 29, 2010 rated it it was amazing
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
Oct 29, 2011 rated it liked it
Shelves: don-t-buy
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!
Mar 12, 2012 rated it really liked it  ·  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). ...more
Jay Rain
Apr 30, 2017 rated it it was amazing
Rating - 8.7

The content about the pending Aftershock to the financial collapse/irrational rebound is quite the mind-blower & has actually influenced my personal spending behavior & likely investment mix going forward

Biggest issues w the book are two fold - the arrogance & repetition of the authors lead to 100 extra pages than needed & turns you off at the midpoint; Some solid points made which make for bleak times

Oct 23, 2010 rated it it was amazing
I definitely look at the status of our economy differently. Use wisdom when discerning what the media says about the state of the economy, especially when an economic "pundit" says something is "guaranteed" to perform (either toward an upward or downward trend), while the stats are inconsistent with the respective index. ...more
Robert Donaldson
May 30, 2011 rated it really liked it
Unfortunately, I believe this author is right about the future of our economy.
Terry Tisdale
Jan 21, 2013 rated it it was amazing  ·  review of another edition
Should be required reading for everyone. This book sets up what is GOING to happen to our economy. Read it and get prepared.
Dec 07, 2020 added it
This is a follow-up book to Wiedemer's earlier work, America's Bubble Economy, and a clever bit of pre-buzz for his coming "sequels", which he promotes heavily at the end of the book. For the most part, I felt like this book was mostly intended to promote the author's web site, newsletter and other products. Wiedemer may have been either very astute when he predicted the collapse of the real estate bubble, stock market, and consumer spending in 2006, or merely lucky...I'm leaning towards lucky.

Nov 16, 2016 rated it liked it
great beginner book, goes over some basic macroeconomics, and lists many solid reasons why our economy is much stable and wealthier than it deserves to be. excellent thinking on safe investments for the future. the sad thing is that it has been 5 or 6 years since it was published, and the crash has not happened yet. had readers taken their advice immediately, they would have missed out greatly! I learned many things from these guys, ready to learn more.
Oct 05, 2020 rated it it was ok
Weak. Got some of the macro stuff right, at least I think so, but a lot of the conclusions make no sense, and they don't explain most of the why behind totally contradictory statements.

Bottom line, the recommendations are:
1. Get our newsletter
2. Seriously, we're super smart, you know you want it.
3. Ok, maybe you'd rather be a advisory client?
4. Sell everything and buy gold.

If that's all you've got... This whole book could have been a decent article.
Tristan Tamaso
Mar 19, 2020 rated it really liked it
Decent opinions, enjoyed their point of view. I extracted the useful for myself info, and took all else with a grain of salt. Time will tell their profecy,although might be off by 5-8 year period. Overall I enjoyed their status quo challenge.
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