In this controversial book a noted adherent of Austrian School of Economics theories advances the thesis that the United States is fast approaching the end stage of the biggest asset bubble in history. He describes how the bursting of the bubble will cause a massive interest rate shock that will send the US consumer economy and the US government—pumped up by massive Treasury debt—into bankruptcy, an event that will send shockwaves throughout the global economy. Michael Pento examines how policies followed by both the Federal Reserve and private industry have contributed to the impending interest rate disaster and highlights the similarities between the US and European debt crisis. But the book isn't all doom and gloom. Pento also provides well-reasoned solutions that, government, industry and individuals can take to insulate themselves against the coming crisis.
- Paints an alarmingly vivid picture of the massive interest rate shock which soon will send consumers and the government into bankruptcy
- Backed by a wealth of historical and economic data, Pento explains how the bubble was created and what the U.S. can do to mitigate the impending crisis
- Provides investors with sound strategies for protecting themselves and their assets against the coming financial apocalypse
- Explains why retirees, in particular, will be at risk as real estate prices decline, pensions weaken, and the bond bubble bursts
Keywords: Economics Special Topics, economics, economic collapse, credit crisis, global credit crisis, bond markets, bond market collapse, investing, personal finance, financial Armageddon, the coming economic apocalypse, risk management, asset management, financial crisis, coming financial crisis, bubble economy, what is a bubble economy, credit bubble, fiat capital, decline of the US economy, economic collapse, surviving the economic collapse, profiting from financial crisis