Synopses & Reviews
In 2004, Warren Brussee wrote, "Come 2008, the number of people giving up on making house payments will skyrocket . . . banks will be forced to foreclose on homes and sell them, causing a glut of homes on the market and a deflation of home values. . . . You will be able to get a great deal on a used SUV, especially a Hummer!"
These are just some of the author's gloomy, but accurate predictions that have come to be part of today's economic reality. But, says Brussee, the worst is yet to come: the problems are so severe that it will take until 2013 before the economy bottoms out and begins to grow. In the meantime, the stock market will drop dramatically, unemployment will be over 15%, and our country will be humbled as it is forced to adapt to a far lower and simpler standard of living. In The Great Depression of Debt, Brussee offers a detailed economic analysis of the difficult years ahead, telling what to expect and how to survive the next great depression.
The author clearly lays out the circumstances that have led to this situationthe craziness in the nineties' stock market that encouraged people to stop saving and start speculating, consumers who began spending more than they could afford, as well as other factorsand outlines the similarities between current times and the years just prior to the First Great Depression. Brussee explains in detail what individuals must do to get through it: keep a job, limit debts and return to saving, and stay away from the stock market until it hits bottom. The author also reveals how the country will emerge from its economic troubles, telling how effective job creation in alternative energy, electric cars, and the required infrastructure will be key, along with training for related skills.
The twenty-first-century Great Depression has al-ready begun. It is a harsh reality we all must face. But this book will show you how to survive these turbulent times and profit in its aftermath.
Synopsis
Praise for The Great Depression of Debt"This is a book that anyonea??young, old, or anywhere in betweena??should read and study. It is superbly researched and thoughtfully written. The first half of the book is a window into the future, and the second half is an outstanding guideline for facing that future. This is the most important book I have read."
a??Christopher Welker, General Manager, Technology, for a Fortune 100 Company
The Twenty-First-Century Great Depression
The continuing high rate of foreclosures, along with excess housing inventory from the overbuilding of the past decade, uncertainty in the credit markets, higher unemployment, and a weak dollar all point to an extended period of depression in the United States.
In The Great Depression of Debt, Warren Brussee examines the history of bubbles through the twentieth century and offers solid evidence to show why he believes the current depression could continue well through 2020. The author tells why the good times have ended and shows the frightening parallels between current times and the Great Depression.
Brussee explains, however, how those positioned to handle dramatic shifts in consumer spending, the mortgage industry, and the stock market are at a great advantage. He offers key insights into the coming economic turbulence and outlines steps to prepare for it, providing practical advice on how to survive the depression, where retirees should be putting their money, when to get back into the market, and what to invest in once you are back in.
Synopsis
This book takes a close look at today's economy and offers a bleak prediction for its future. However, those positioned to handle dramatic shifts in consumer spending, the mortgage industry, and the stock market are at a great advantage.
Author Warren Brussee offers insight into the coming economic situation and provides steps to prepare for it. For example, he recommends that savings be in Treasury Inflation Protected Securities until the stock market drops 73% from its 2004 level. Methods of determining when the stock market is again a good buy are defined, and different investment options are evaluated. Even during a depression, people will need to save for their future, and Brussee provides detailed charts that show retirement savings requirements.
About the Author
WARREN BRUSSEE is a Six Sigma expert who spent thirty-three years at GE as an engineer, plant manager, and engineering manager. His responsibilities encompassed manufacturing plants in the United States, Hungary, and China. Brussee earned his engineering degree from Cleveland State University and attended Kent State University towards his EMBA. Brussee has written two widely used books on Six Sigma as well as Getting Started in Investment Analysis, which is published by Wiley.
Table of Contents
Preface.
Acknowledgments.
Part I: The Essence of Why We Will Have a Depression.
Chapter 1: The Crazy Nineties.
Chapter 2: The Debt Bubble.
Chapter 3: Why Are the Good Times Ending and the Bubbles Breaking?
Chapter 4: Current Times Compared to 1929a??1930.
Chapter 5: What This Depression Will Be Like.
Chapter 6: What Else May Deepen the Depression.
Chapter 7: Could the Fed Have Stopped This Depression?
Chapter 8: Now That It Has Started, How Are We Going to Work Our Way Out of This Depression?
Part II: The Market Is Bad Now, But It Could Be Good In The Future.
Chapter 9: Why the Stock Market Is Currently a Bad Investment.
Chapter 10: When to Get Back Into the Stock Market.
Chapter 11: Once You Are Back in the Stock Market.
Part III: Surviving and Saving During the Coming Depression.
Chapter 12: How to Survive the Coming Depression.
Chapter 13: Saving Before and During the Depression.
Chapter 14: Retirement Savings Charts for People Planning to Retire in 15 to 40 Years.
Chapter 15: I Want To Retire Soon. How Much Money Will I Need?
Appendix A: Details on Using the Formula on 5a??, 10a??, and 20a?? Year Investing.
Appendix B: Derivation of the Savings Tables and Formulas.
Appendix C: Understanding Logarithmic Charts.
Appendix D: Key Numbers Used in Stock Market Calculations.
Glossary.
References.
About the Author.
Index.