How an Economy Grows and Why it Crashes uses illustration, humor, and accessible storytelling to explain complex topics of economic growth and monetary systems. In it, economic expert and bestselling author of Crash Proof, Peter Schiff teams up with his brother Andrew to apply their signature "take no prisoners" logic to expose the glaring fallacies that have become so ingrained in our country?s economic conversation.
Inspired by How an Economy Grows and Why It Doesn?t?a previously published book by the Schiffs? father Irwin, a widely published economist and activist?How an Economy Grows and Why It Crashes incorporates the spirit of the original while tackling the latest economic issues.With wit and humor, the Schiffs explain the roots of economic growth, the uses of capital, the destructive nature of consumer credit, the source of inflation, the importance of trade, savings, and risk, and many other topical principles of economics.
Peter D. Schiff has fully revised and updated his provocative New York Times, Wall Street Journal, and USA Today bestseller The Real Crash. First published in 2012, The Real Crash argues that America is enjoying a government-inflated bubble, one that reality will explode...with disastrous consequences for the economy and for each of us.
Since 2012, what has happened with our economy? The stock market continues its illusory gains, the Fed "tapers" while some jobs return, and yet the fundamental threat to our way of life has only grown worse-- much, much worse. The United States government nearly defaulted on its debts and the solution was to raise the debt limit-- to spend yet more money, to go even deeper in hock to China, and to burden every American with obligations that are impossible to repay.
With incisive analysis and expert financial understanding, Peter D. Schiff reveals that the road we're on will lead to an abrupt devaluation of our currency and a crash that will upend our power, our political system, and our way of life. This new edition of The Real Crash includes more than 35,000 new words of text, which cover:
-The 2013 government shutdown, the debt crisis, and how the solution only dug a deeper hole
-The IRS political auditing scandal and why the average American should care
-What will happen when the government stops inflating the stock and real estate market bubbles
-How Detroit's bankruptcy mirrors our national situation: too many promises, not enough revenue
To avoid complete collapse, America must drastically reduce government spending, and regulations that drain businesses and suppress economic growth, eliminate costly and unnecessary agencies, stop foreign military escapades, and cut entitlements of all kinds for all classes of people. And, with wisdom born from having predicted the Crash of 2008, Peter D. Schiff explains how to protect yourself, your family, your money, and your country from the even greater crash that lies ahead.
A fully updated follow-up to Peter Schiff's bestselling financial survival guide-Crash Proof, which described the economy as a house of cards on the verge of collapse, with over 80 pages of new material
The economic and monetary disaster which seasoned prognosticator Peter Schiff predicted is no longer hypothetical-it is here today. And nobody understands what to do in this situation better than the man who saw it coming. For more than a decade, Schiff has not only observed the economy, but also helped his clients restructure their portfolios to reflect his outlook. What he sees today is a nation facing an economic storm brought on by growing federal, personal, and corporate debt; too little savings; and a declining dollar. Crash Proof 2.0 picks up right where the first edition-a bestselling book that predicted the current market mayhem-left off. This timely guide takes into account the dramatic economic shifts that are reshaping the world and provides you with the insights and information to navigate the dangerous terrain. Throughout the book, Schiff explains the factors that will affect your future financial stability and offers a specific three step plan to battle the current economic downturn.
Discusses the measures you can take to protect yourself-as well as profit-during these difficult times
Offers an insightful examination of the structural weaknesses underlying the economic meltdown
Outlines a plan that will allow you to preserve wealth and protect the purchasing power of your savings
Filled with in-depth insights and expert advice, Crash Proof 2.0 will help you survive and thrive during the coming years of economic uncertainty.