The Real Crash

The Real Crash

America's Coming Bankruptcy--how to Save Yourself and your Country

Book - 2012
Average Rating:
7
Rate this:

For over 30% new material including many startling developments that have occurred in the past few years, check out The Real Crash Fully Revised and Updated Edition , on sale now.

You might be thinking everything's okay: the stock market is on the rise, jobs are growing, the worst of it is over.

You'd be wrong.

In The Real Crash , New York Times bestselling author Peter D. Schiff 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. Schiff demonstrates how the infusion of billions of dollars of stimulus money has only dug a deeper hole: the United States government simply spends too much and does not collect enough money to pay its debts, and in the end, Americans from all walks of life will face a crushing consequence.

We're in hock to China, we can't afford the homes we own, and the entire premise of our currency---backed by the full faith and credit of the United States---is false. Our system is broken, Schiff says, and there are only two paths forward. The one we're on now leads to a currency and sovereign debt crisis that will utterly destroy our economy and impoverish the vast majority of our citizens.

However, if we change course, the road ahead will be a bit rockier at first, but the final destination will be far more appealing. If we want to avoid complete collapse, we must drastically reduce government spending---eliminate entire agencies, end costly foreign military escapades and focus only on national defense---and stop student loan or mortgage interest deductions, as well as drug wars and bank-and-business bailouts. We must also do what no politician or pundit has proposed: Americashould declare bankruptcy, restructure its debts, and reform our system from the ground up.

Persuasively argued and provocative, The Real Crash explains how we got into this mess, how we might get out of it, and what happens if we don't. And, with wisdom born from having predicted the Crash of 2008, Peter Schiff explains how to protect yourself, your family, your money, and your country against what he predicts.

Publisher: New York : St. Martin's Press, 2012
Edition: 1st ed
ISBN: 9781250004475
Branch Call Number: 330.973 SCH NVD
Characteristics: xii, 335 p. ; 25 cm

Opinion

From the critics


Community Activity

Comment

Add a Comment

z
zackery_0
Mar 17, 2016

Scrapping "Obama care" is not the answer. scrapping any thing that comes out of the executive branch is not the answer. scrapping anything that come out of the federal government is not the answer. for the time being the problem that is immanent, present and that needs to be addressed is the private sector pure and simple. it is the private sector that has declared silent war on the average American while having " government" as well in its crosshairs. while "average Americans" sit and watch while loving "fictional tv" and over exuberant sports. the private sector has inflated everything we see around us. and has trashed everything America was suppose to stand for. the private sector has said no to more government oversight so they can keep bleeding the federal reserve the federal trade commission and the internal revenue serve dry and what really backs it. its the American people and there hard earned commodities as well as tax dollars. they have declared open season on the American person by saying be more marketable and don't worry ware cooperate dollars go due to the fact its not suppose to be your money, its our money since we own things. the thing is the American dream was meant to be for the person the individual the worker not the cooperation's which are stock hording green back wealth virtually while they say you are not worth the 15 dollars minimum wage, while they make billions and poor them into other cooperation's stocks they are suppose to be in competition with. this is fraud and they government is going along with it because it gives our elected officials and their counter part underlings something to "bitch" about at face value on the "news" and cspan. the reality is they like to hustle the market while the hole market is robbing the world while making everything look horrible on paper and screen while everyone ignores the true problem and such uses a scape goat and chases smaller problems that no one really wants to reform. the fed is broke china wants gold and our military is strong arming them while they release one coal plant for emission relief lies about emissions and just let the workers go to work for "the Americans" or be street thugs without a healthy alternative, because not even a communist governing country wants a healthy private sector that does not screw the consumer.(not including Russia do to illuminati possibility control measure) go back to work America if you really don't care

s
StarGladiator
Dec 29, 2014

Best commenter: markpmackesy! This rube, Schiff, is really the poster boy for Cognitive Dissonance! He reminds me of an interview I heard on NPR, of this voter in Kansas, right before the 2000 election primary when Geo. W. Bush was running against John McCain on the R-con side, and Gore on the dem side, and the Kansas voter was correct about all the problems facing America [jobs offshoring, Wall Street scams, corruption, more monies for infrastructure need, et cetera], but then he says, /// And that's why I'll be voting McCain! \\\ ??? Huh?

Schiff knows the problems [somebody must have explained it to him] but his solutions are crazier than a Rockefeller on a cocktail mix of LSD, peyote, crack cocaine, Ecstasy and horsey tranquilizer [supposed to be their faves]. My political action group predicted the meltdown to begin in 2007 back in 2000! Don't take a rocket scientist to understand that with the Fed pumping $1 trillion to the banks to buy up their junk paper so they can sell even more junk paper [QEI, QEII, QEIII. . .] you got a bubble.

peterymyong Jul 02, 2013

No doubt the U.S has a serious debt problem. However, it will be solved but not through the "end of civilization" crash that the author predicts.

a
AQUILEA777
Jun 10, 2013

The American economy rests on buying consumer goods from China with money borrowed from China. The Chinese make and save; we spend and consume. This cannot go on much longer.

Far worse trouble than 2008-2009 lies ahead.
To save itself, our Government may confiscate your money and property.
The best course for you may be to get out NOW.

If the Nation does survive,
a sound, free-market economy,
purged of poisonous Government and Federal Reserve manipulations,
may rise from the debris.

Government meddling always makes matters worse. Subsidies cause price spirals --
as in healthcare, college tuition, and housing. These costs were stable and moderate
till Government started helping to pay for them;
then they grew monstrous.

How to reform? Abolish the income tax, Social Security, Medicare, the Federal Reserve, and most other Government departments, agencies, and programs.

This may sound crazy,
but so did Schiff's warning in 2006 that the home-mortgage boom
was about to collapse.
Experts ridiculed him -- the same ones who still hold sway.

[In 1933-1934, the Government confiscated gold in exchange for debased currency.
In 1971, without any warning, it repudiated the gold standard completely -- a clear default.
Official seizure of private wealth is no more unthinkable than Government theft of our phone calls and emails, which has been happening for years.
Another debt-repudiation is quite possible.]

Schiff recommends foreign stocks and currencies, gold (to be stored in Australia), and bullets.

j
joehall
Apr 03, 2013

I listened to audio book. Go ofver las chapters about how/where to invest for crash

s
stewstealth
Jan 22, 2013

Certainly not everyone will agree with Mr Schiff's solution however whether he is proven correct in the next ten years or not the main part to take away from this book is how easily unintended consequences hit those whose policies they try to help. The world is awash in fiat currencies and there will come a time when some are worthless. If we are going to promise our populations with benefits then they must be funded. Worth reading even if you don't agree.

m
markpmackesy
Aug 07, 2012

This book could be subtitled, "Get out of the way and just let the 1% rule". Or, "The solution to our problems is to give more power to the people who got us into this mess."
Or "The Tea Partie's Guidebook for the Economically Insane".
Compare to the economic policies of Germany and Canada and even China to what is suggested in this book.
The title of chapter 11 is true...but it's because of the kind economic thinking which Mr Schiff's wants to take to it's extreme conclustion.

Age Suitability

Add Age Suitability

There are no age suitabilities for this title yet.

Summary

Add a Summary

There are no summaries for this title yet.

Notices

Add Notices

There are no notices for this title yet.

Quotes

Add a Quote

There are no quotes for this title yet.

Explore Further

Browse by Call Number

Recommendations

Subject Headings

  Loading...

Find it at NVDPL

  Loading...
[]
[]
To Top