Synopses & Reviews
A practical guide to preparing for the next phase of the financial meltdown
"Their first book, America's Bubble Economy, was one of those rare finds that not only predicted the subprime credit meltdown well in advance, it offered Main Street investors a winning strategy that helped avoid the forty percent losses that followed for many in the meltdown. Now they've done it again. Today they see more to come, another, bigger global meltdown. And they're right on. Aftershock will teach you how to protect yourself against an increasingly hostile Wall Street-Corporate America-Washington conspiracy undermining average investors like you. This is your bible, read it, get into action, and be a winner."
—PAUL B. FARRELL, JD, PhD, Columnist, Dow Jones/MarketWatch
"Aftershock makes a compelling argument for a chilling conclusion. Their track record demands our attention."
—SAM STOVALL, Chief Investment Strategist, Standard & Poor's
"The fragility of today's economy demands that we, as investors, allocate our assets with more prudence and focus than ever before. The authors' prescience in their first book lends credence to their new warnings. This book deserves our attention."
—ROBERT FRIEDMAN, former CFO, Goldman Sachs
"Aftershock is a superb exegesis of how our damaged economy is in for further difficulties. Since the authors hedge their predictions not at all, a second event in which they will have been proven correct will lead to a very special stature."
—STANLEY GOLDSTEIN, founding partner of Goldstein Golub Kessler LLP and founder of the New York Hedge Fund Roundtable
"Given the accuracy of their first book's predictions, you have to be worried that their second book could very well be right. Be prepared and read this book."
—PHILIP GROSS, founding CFO, America Online
Their first book was chosen by Kiplinger's as one of the best business books of the year.
From the authors who correctly predicted the first phase of our current economic downturn in their landmark 2006 book, America's Bubble Economy, comes an insightful sequel in which they forecast the next stage of the Bubble Economy. Written in a straightforward and accessible style, Aftershock shows readers how to seek safety and profits in these dynamic economic conditions.
"But as bitter as it is, 'Aftershock’s' message–that America has yet to pay its bills–deserves an audience. After all, the authors were right once before."
—Michael Casey, MarketBeat, blogs.wsj.com/marketbeat, November 2009
" … surrounded as we are by growing talk of recovery and news about ‘green shoots,’ it’s still refreshing to consider the different perspective that Wiedemer, Wiedemer and Spitzer offer here."
— Robert J. Hughes, Smart Money, December 2009
"Their scenario is dark, and their strategies bold and unconventional. But after being on target the last time they went against the grain, the Wiedemers merit being heard out." (The Associated Press, December 2009)
"This is a page turner, but it will be slow reading from the standpoint of having to constantly stop and make notes in the margin or pause to see how a particular point directly effects the reader’s own situation. Reading this book will make you aware of economics like you’ve never previously been aware."
—James Holland, Basil & Spice, December 2009
Aftershock warns of a very different economic future from what most people think. The full impact of the recent bubble pop will create far more problems than we have now, especially for the dollar, and will push home prices and stocks even lower.
Unlike most books that try to explain our economic troubles, Aftershock goes beyond the outdated notion of market cycles to help readers clearly recognize and quickly respond to the rapidly evolving economy. Things are not going back to how they were before. Instead, we are moving through uncharted territory, with new challenges and opportunities few people anticipate. Aftershock shows readers how to seek safety and profits in these evolving economic conditions. Specifically, the book will: Show readers how to protect assets, businesses, and jobs before and during the coming second wave of the financial meltdown Provide clear and accurate advice on how to profit from the collapsing bubbles Offer focused guidance regarding real estate, which will continue to be a pressing concern for many readers
A practical guide to preparing for the next phase of the financial meltdown
From the authors who were the first to predict Phase I of our current economic downturn-in their landmark 2006 book, America's Bubble Economy-comes their insightful sequel discussing their predictions for the next phase of the Bubble Economy.
It may seem like the worst has come and gone, but it hasn't. With their proven track record of accurate predictions-which most financial professionals and economists missed-the authors explain how and why the next phase of the financial meltdown is about to hit. Things are not going back to how they were before. Instead, we are moving through uncharted territory, with new challenges and opportunities that few people can anticipate. Written in a straightforward and accessible style, Aftershock shows readers how to seek safety and profits in these dynamic economic conditions. Discusses how to protect assets, businesses, and jobs before and during the second wave of financial meltdown Provides clear and accurate advice on how to profit from the collapsing bubbles Offer focused guidance regarding real estate, which will continue to be a pressing concern for many
The authors' first book was chosen by Kiplinger's as one of the 30 Best Business Books of 2006, and its accuracy has been hailed by Paul Farrell of Dow Jones MarketWatch when he said America's Bubble Economy's Predictions, though ignored, were accurate. Don't miss out on these time tested author's proven advice for how to mange your money during the coming financial meltdown.
From the authors who predicted with unmatched precision the domino impacts of the real estate, stock market, and other bubbles that led to 2008's market meltdown comes the definitive look at what is still to come and what investors can do to protect themselves
Just as many are wrongly forecasting a full recovery ahead, Aftershock, now updated and revised, warns of a very different economic future. Home prices and stocks will continue to fall, inflation and unemployment will rise, and the current recession will not automatically cycle back to recovery. Unlike most books, Aftershock goes beyond the outdated notion of "market cycles" to help readers clearly recognize and quickly respond to the rapidly evolving economy. Instead of going back to how things were before, we are moving forward through uncharted territory, with new challenges and opportunities few people anticipate. The book shows you how to:
- Protect assets before and during the second wave of the financial meltdown
- Make wise investment decisions regarding stocks, bonds, real estate, and more
- Know which jobs, careers, and businesses will fare the best
- Profit from the collapsing bubbles
- Other titles by Wiedemer, Wiedemer, and Spitzer: America's Bubble Economy
Aftershock is easy-to-read, entertaining, and practical book guides readers to seek safety and profits in these evolving economic conditions.
In 2006, with home values high and credit flowing, authors David Wiedemer, Robert Wiedemer, and Cindy Spitzer accurately predicted the popping of the housing bubble, the collapse of the private debt bubble, the fall of the stock market bubble, the decline of consumer spending, and the widespread pain all of this was about to inflict on the rest of our economy. How did they get it so right while others got it so wrong? The authors saw a fundamental underlying pattern that others were—and, unfortunately, are still
—missing. It may seem like the worst has come and gone, but it hasn't, say the authors in this new book. Things are not going back to how they were before. In Aftershock
, the authors offer the definitive look at what is still to come—and what investors must do to protect themselves.
This is not merely a down market cycle, the authors explain, nor is it a typical recession. It is a multi-bubble economy that is being hit by a "Bubblequake"—and the coming Aftershock will be far more dangerous. Aftershock details the next bubbles about to burst, including the Dollar Bubble and the Government Debt Bubble, while there's still time to protect your assets and position yourself to survive and thrive in this dangerous, yet potentially profitable new environment. They offer specific advice on how to profit and, more importantly, how not to lose money during the Aftershock. They identify the best Bubblequake and Aftershock investments—those that take advantage of a falling stock market and those that take advantage of a falling dollar. And they reveal where the jobs will be in what they call the "Necessities Sector," composed primarily of health care, education, and government services.
Despite how well the economy appeared to be doing in 2006, these authors predicted it would only be two or three years before America's multiple bubbles would begin to decline and eventually burst. It turned out they were right. There is still time for individuals and businesses to cover their assets and even find ways to profit in the Aftershock. Those who followed the authors' advice in 2006 have profited handsomely—and now, readers of Aftershock will get a second chance.
About the Author
, PhD, is a groundbreaking evolutionary economist who created the rigorous economic analysis on which this book is based. He received his PhD in economics from the University of Wisconsin–Madison. Dr. Wiedemer has held senior management positions with several Washington, DC–area high-technology companies and holds thirteen domestic and international patents on information technology.
Robert A. Wiedemer brings to the team the real-world investment understanding and analytical skills that come from founding a NASDAQ-listed information services company. He is a Managing Director at Absolute Investment Management, a money management firm based in Bethesda, Maryland.
Cindy Spitzer is an award-winning writer based in Baltimore, Maryland, who has coauthored, edited, written, or consulted on more than twenty books since 1993, including the first Chicken Soup for the Soul, as well as Reader's Digest books, Time Life books, and many others. She has also contributed to the Washington Post, Baltimore Sun, Chicago Tribune, Newsday, Newsweek, and many other publications.
Table of Contents
Executive Summary vii
PART ONE First the Bubblequake, Next the Aftershock.
Chapter 1 America's Bubble Economy 3
Chapter 2 Phase I: The Bubblequake 25
Chapter 3 Phase II: The Aftershock 60
Chapter 4 Global Mega-Money Meltdown 98
PART TWO Aftershock Dangers and Profits.
Chapter 5 Covering Your Assets: How Not to Lose Money 115
Chapter 6 Cashing in on Chaos 127
Chapter 7 Aftershock Jobs and Businesses 148
PART THREE A New View of the Economy.
Chapter 8 Forget Economic Cycles, This Economy Is Evolving 163
Chapter 9 The New View of the Economy Helped Us Predict the Current Bubblequake, So Why Don't Some People Like It? 191
Chapter 10 Phase III: A Look Ahead to the Post-Dollar-Bubble World 207
Epilogue Say Good-bye to the Age of Excess 225
Appendix A Forces Driving the Collapse of the Bubbles 229
Appendix B How We Can (and Will) Solve Our Economic Problems 255