Crash Proof: How to Profit From the Coming Economic Collapse (Lynn Sonberg Books)
by: Peter D. Schiff, John Downes
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The economic tipping point for the United States is no longer theoretical. It is a reality today. The country has gone from the world's largest creditor to its greatest debtor; the value of the dollar is sinking; domestic manufacturing is winding down - and these trends don't seem to be slowing. Peter Schiff casts a sharp, clear-sighted eye on these factors and explains what the possible effects may be and how investors can protect themselves. For more than a decade, Schiff has not only observed the U.S. economy, but also helped his clients reposition their portfolios to reflect his outlook. What he sees is a nation facing an economic storm brought on by growing federal, personal, and corporate debt, too-little savings, a declining dollar, and lack of domestic manufacturing.
Crash-Proof is an informed and informative warning of a looming period marked by sizeable tax hikes, loss of retirement benefits, double digit inflation, even - as happened recently in Argentina - the possible collapse of the middle class. However, Schiff does have a survival plan that can provide the protection that readers will need in the coming years.
The economic tipping point for the United States is no longer theoretical. It is a reality today. The country has gone from the world's largest creditor to its greatest debtor; the value of the dollar is sinking; domestic manufacturing is winding down - and these trends don't seem to be slowing. Peter Schiff casts a sharp, clear-sighted eye on these factors and explains what the possible effects may be and how investors can protect themselves. For more than a decade, Schiff has not only observed the U.S. economy, but also helped his clients reposition their portfolios to reflect his outlook. What he sees is a nation facing an economic storm brought on by growing federal, personal, and corporate debt, too-little savings, a declining dollar, and lack of domestic manufacturing.
Crash-Proof is an informed and informative warning of a looming period marked by sizeable tax hikes, loss of retirement benefits, double digit inflation, even - as happened recently in Argentina - the possible collapse of the middle class. However, Schiff does have a survival plan that can provide the protection that readers will need in the coming years.
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Customer Reviews
Average Rating:
Rating: 
- Brilliant Book
This book provides an in-depth and elementary look into the US's fundamental economic problems from an Austrian perspective.The common sense application and easy to understand analogies make it an easy read for someone who isn't even an investor.My Grandma read my copy, and she has asked for my copy again because she liked it that much!For anyone wanting a look beneath the surface of the US economy, buy this book.
Rating: 
- decent analysis
The detailed analysis on how America is on a dangerous path is very well written. I only hope he would include more coverage on the global geopolitical affairs, which definitely have a great impact on the current state of our economy, and are partially the reason why our economy arestill being bailed out by foreign economies at this very point. On another note, the statement of we are "a service based economy" may soon need a delicate update, as a new transition has been taking place for over a ... Read More
Rating: - Oldschool Economics
The US dollar is beyond weak -- it is worthless. And as soon as other nations realize that, our economy will collapse. Once that happens, the Great Depression will look like Mardis Gras, as we will become one of the poorest nations on earth.
That is the premise of this book, and it is one that you may or may not believe, depending on (among other things) the economic theory you adhere to. Schiff holds to a more traditional, conservative view, and he makes a compelling case, though not ... Read More
Rating: - The original textbook from the the guy who called it all.
Does Euro Pacific even have a fund? I've called and they don't.
What you get is foreign stocks; and like everything but the dollar and gold in the second half of 08, they got crushed. Peter sells gold, and the US dollar has probably seen its best days.
Foreign markets have done better than domestic for the better part of a decade; six months of credit crisis induced de-leveraging forced only the leveraged and faint-hearted out of positions that have done MUCH better than domestic ... Read More
Rating: 
- Overrated
For all of his insights, Schiff's mutual funds underperformed the popular averages during the present downturn. Given that he predicted the housing bust, his advice does not seem to indicate that his investment strategy profited from it.
The book is a 200 page promotion for his mutual fund which has been critized for its high fees.There are similar ETFs that emulate his funds without the high costs.
- Brilliant BookThis book provides an in-depth and elementary look into the US's fundamental economic problems from an Austrian perspective.The common sense application and easy to understand analogies make it an easy read for someone who isn't even an investor.My Grandma read my copy, and she has asked for my copy again because she liked it that much!For anyone wanting a look beneath the surface of the US economy, buy this book.
- decent analysisThe detailed analysis on how America is on a dangerous path is very well written. I only hope he would include more coverage on the global geopolitical affairs, which definitely have a great impact on the current state of our economy, and are partially the reason why our economy arestill being bailed out by foreign economies at this very point. On another note, the statement of we are "a service based economy" may soon need a delicate update, as a new transition has been taking place for over a ... Read More
- Oldschool EconomicsThe US dollar is beyond weak -- it is worthless. And as soon as other nations realize that, our economy will collapse. Once that happens, the Great Depression will look like Mardis Gras, as we will become one of the poorest nations on earth.
That is the premise of this book, and it is one that you may or may not believe, depending on (among other things) the economic theory you adhere to. Schiff holds to a more traditional, conservative view, and he makes a compelling case, though not ... Read More
- The original textbook from the the guy who called it all.Does Euro Pacific even have a fund? I've called and they don't.
What you get is foreign stocks; and like everything but the dollar and gold in the second half of 08, they got crushed. Peter sells gold, and the US dollar has probably seen its best days.
Foreign markets have done better than domestic for the better part of a decade; six months of credit crisis induced de-leveraging forced only the leveraged and faint-hearted out of positions that have done MUCH better than domestic ... Read More
- OverratedFor all of his insights, Schiff's mutual funds underperformed the popular averages during the present downturn. Given that he predicted the housing bust, his advice does not seem to indicate that his investment strategy profited from it.
The book is a 200 page promotion for his mutual fund which has been critized for its high fees.There are similar ETFs that emulate his funds without the high costs.
