Just Finish Listening To “Aftershock Protect Yourself and Profit in the Next Global Financial Meltdown” – Audio Book Review

Wow, let me just say that this book by Robert A. Wiedemer and Cindy S. Spitzer will hit you hard with a dose of reality about the state of the U.S and world economy as it stands today. The book goes over details on the problem and how to protect yourself for many categories of your wealth.

The major idea behind this book is the fact that the United States has a ballooning federal debt fueled by printed U.S. dollar and the U.S. dollar will collapse within the next 2-5 years. Now this book was written in 2011, so from today their rough prediction is 1 to 4 years , anytime in that time-frame.

By collapse they do not mean that the U.S. dollar will die completely, it will still be around as one of the reserve currencies. By collapse it will probably mean that the U.S. dollar will lose 30-40% of its value or purchasing power, and what this means is everything is going to get very expensive.

This dollar bubble will affect the whole world. Foreigners that invest in the United States will take a huge hit in their investment and American’s will experience huge inflation on goods needed to survive. Also interest rate will slowly creep up to slowly destroy those that are in debt.

They do go to mention that this “Mega-Depresssion” they call it will be much different than the 1930’s depression and can be much worse.

Some of the recommendation are:

1. Get out of stocks, because the overall markets will tank ….That is why I have short positions.
2. Pay off as much debt as possible
3. Sell your business now, as things will get worse
4. Buy GOLD/SILVER to preserve wealth.
5. If you are a foreigner, get out of all your U.S. investments (in U.S. dollars)
6. Reduce your spending
7. If you cannot afford to buy GOLD bullion, buy jewelry to preserve wealth
8. Hang on to your job, make yourself not dispensible

To profit , this book recommends you wait until after the dollar bubble has popped, if you have preserved your wealth with the steps above they you can start buying up assets at a discount. The only problem is knowing when it will happen and that is a universal problem with investing…when to buy. Just like no one can predict the top or bottom of a market this is a tough thing to predict.

Another aspect of the economy is jobs, and if you think unemployment now is bad…yikes. When the demand slows to a crawl due to the collapse of the U.S. dollar , people will lose their jobs left and right. They recommend you try to hang on to your job for as long as you can and reduce your spending, cut back and downgrade your shopping taste.

The ideas in “Aftershock Protect Yourself and Profit in the Next Global Financial Meltdown” is not new, I have been hearing similar predictions from Harry Dent, Peter Schiff, Jim Rogers and Marc Faber. Although, “Aftershock Protect Yourself and Profit in the Next Global Financial Meltdown” has some additional insights that differ from the other economic forecaster.

I do recommend this book, if you are interested in protecting your wealth. For some people though, it is a lot of reality to confront and accept, but once they get past that and realize what is coming down the pipe and how it is going to hurt the whole world in a bad way, this will light a fire under their butts and move them to action.

As for myself, part of my overall wealth is already in Silver bullion and some gold. I will be moving most of my investments back to Canadian dollar from U.S. assets in the short term. My personal debt is almost zero and I have lots of emergency food in storage.

by Das Brain

More Book and Course Reviews

Bookmark at:
StumbleUpon | Digg | Del.icio.us | Dzone | Newsvine | Spurl | Simpy | Furl | Reddit | Yahoo! MyWeb

Comments are closed.