AFTERSHOCK is a clarion call to Americans to wake up to an impending reality that will shake our country to its core. The Bubble is about to burst and only the prepared will survive well.
Wiedemer ,Wiedemer, and Spitzer identify six economic bubbles:
Real Estate
Stock Market
Private Debt
Discretionary Spending
US Dollar
Government Debt
Each of these bubbles, current prices unrelated to underlying value, will burst. Some have already begun; real estate, personal debt, discretionary spending. But it is going to get worse. A lot worse, when the biggest bubble of all, Government Debt, begins to implode.
The authors also identify six psychological stages of denying the bubble are bursting:
Denial
Market Cycles
Fantasized Great Depression
Back to Basics
Imagined Armageddon
Revolutionary Action
For some reason, the authors don't seem to quite believe the last point - they think, somehow, America will pull itself out of the total devastation which befalls her. Human nature being what it is, that seems rather unlikely.
Is there still time to save the U.S. economy? No. It is now too late. This administration and Congress have now created such a huge public deficit, more than $12 Trillion dollars with unfunded liabilities over $102 Trillion that the money can never be repaid. The accelerated printing of fiat currency has made matters worse. The US will never be able to honor its debts or repay bondholders. Not in 100 years. Not with tax receipts that are only a fraction of annual liabilities.
Prior to 2009 it was still possible. But the annual debt has now exceeded $1 Trillion a year - more than the tax receipts to pay it - a lot more.
AFTERSHOCK is a grim, sober look at the macro economic state of the U.S. and the world. There are ways to profit if action is taken soon. The book is invaluable in identifying those opportunities.
Get more detail about Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown.
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