Coming Bond Market Collapse - How to Survive the Demise of the U.s. Debt Market

Informationen zum Autor MICHAEL G. PENTO is the President and founder of Pento Portfolio Strategies (PPS). PPS is a Registered Investment Advisory Firm that provides money management services and research for individual and institutional clients. Michael is a well-established specialist in markets and economics and a regular guest on CNBC, CNN, Bloomberg, Fox Business Network, and other international media outlets. His market analysis can also be read in most major financial publications, including the Wall Street Journal . He also acts as a financial columnist for Forbes , contributor to TheStreet.com, and a blogger at the Huffington Post . Prior to starting PPS, Michael served as a senior economist and vice president of the managed products division of Euro Pacific Capital. Additionally, Michael has worked at an investment advisory firm where he helped create ETFs and UITs that were sold throughout Wall Street. Earlier in his career, he spent two years on the floor of the New York Stock Exchange. He has carried Series 7, 63, 65, 55, and Life and Health Insurance Licenses. Michael graduated from Rowan University in 1991. Klappentext The coming financial apocalypse and what government and individuals can do to insulate themselves against the worst shocksIn 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 Zusammenfassung The coming financial apocalypse and what government and individuals can do to insulate themselves against the worst shocks 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. Inhaltsverzeichnis Introduction xi Acknowledgments xv Chapter 1: As Good as Gold? 1 The Great American Money Machine 4 "Dad, Where Does Money Come From?" 8 The Implications of a Fiat Currency 11 Notes 14 Chapter 2: The Anatomy of a Bubble 15 The Great Depression-A Historical Comparison 19 Two Decades of a Bubble Economy 25 Does CDO Rhyme with Tulip Bulb? 29 Today's Bubble in Bonds Rhymes with the Debt-Fueled Real Estate Crisis 31 Notes 33 Chapter 3: Bernanke's Hair-of-the-Dog Economy 35 Austrian Trade Cycle Theory versus Keynesian Toys and Candy 36 "End This Depression Now!"-The Game Show 41 "I'm Not Addicted to Easy Money . . . and I Can Stop at Anytime" 50 No Way Out-Starring Ben Bernanke . . . 56 The Thi...

Table des matières

Introduction xi
 
Acknowledgments xv
 
Chapter 1: As Good as Gold? 1
 
The Great American Money Machine 4
 
"Dad, Where Does Money Come From?" 8
 
The Implications of a Fiat Currency 11
 
Notes 14
 
Chapter 2: The Anatomy of a Bubble 15
 
The Great Depression--A Historical Comparison 19
 
Two Decades of a Bubble Economy 25
 
Does CDO Rhyme with Tulip Bulb? 29
 
Today's Bubble in Bonds Rhymes with the
 
Debt-Fueled Real Estate Crisis 31
 
Notes 33
 
Chapter 3: Bernanke's Hair-of-the-Dog Economy 35
 
Austrian Trade Cycle Theory versus
 
Keynesian Toys and Candy 36
 
"End This Depression Now!"--The Game Show 41
 
"I'm Not Addicted to Easy Money . . . and I Can Stop at Anytime" 50
 
No Way Out--Starring Ben Bernanke . . . 56
 
The Thirty-Year Party in the Bond Market 62
 
Notes 65
 
Chapter 4: Deflation Phobia and Inflation Philos 67
 
Fed Busters 69
 
Common Fed-lore Myth 1--The Myth of the Deflationary Death Spiral Monster 69
 
The Truth about Price Deflation 72
 
Fed-Lore Myth 2: Japan Proves that
 
Debt and Deflation Go Hand-in-Hand 77
 
Myth 3: The Keynesian Fed-Lore of the Phillips Curve 86
 
Myth 4: You Can Rely on Government Statistics 92
 
Myth 5: The Fed Was Created for Your Benefit 100
 
Notes 101
 
Chapter 5: The Bubble Reality Check 103
 
The Investor Reality Check 104
 
The Interest Rate Reality Check 110
 
The Teaser Rate on U.S. Debt--Reality Check 115
 
Banker Reality Check 119
 
The China Reality Check 127
 
Washington's Addiction to Debt--Reality Check 134
 
Notes 140
 
Chapter 6: The End of an Empire 141
 
The End of a Monetary System 145
 
The Economic Laws of Debt 152
 
U.S. Debt--This Time It's Different 153
 
Is Austerity a Bad Thing? 157
 
Where Will All the Money Go? 160
 
The Bell Is Ringing for the Bubble in the Bond Market 163
 
Banana Ben to the Rescue 167
 
The Cost of an Empire 169
 
Notes 173
 
Chapter 7: Real World Europe 175
 
The Creation of the Euro 176
 
Greece 183
 
Dr. Hayek vs. Dr. Keynes 190
 
Dr. Keynes and Dr. Hayek and
 
America's Bout with Hyperinflation 195
 
I'll Take Currency Debasement for $40 Billion . . . a Month 200
 
Final Jeopardy 203
 
The Canary in the Coal Mine 204
 
Notes 205
 
Chapter 8: The Debt Crisis 207
 
From Pioneer to Penurious . . . 207
 
The Sixteenth Amendment . . . The Beginning of the Slippery Slope 209
 
Mexican Debt Crisis 215
 
The Asian Contagion 218
 
Russian Debt Crisis 220
 
The Debt Crisis Fallout 223
 
What Would It Look Like Here? 225
 
It Can't Happen Here? 233
 
I Don't Want to Be Right 238
 
Conclusion 247
 
Notes 248
 
Chapter 9: What Can the Government Do to Mollify the Debt Collapse? 251
 
The Principles of a Free Market 252
 
Solution 1: Allow the Deleveraging Process to Happen 257
 
Solution 2: Strengthen and Stabilize the U.S. Dollar 260
 
Solution 3: Allow Interest Rates to Rise to the Supply of Savings versus the Demand for Money 262
 
Solution 4: Balance the Budget 264
 
Solution 5: Aggressively Reduce the Amount Of Regulatory Burden 270
 
Solution 6: Simplify the Tax Code 273
 
Solution 7: Fair Trade and a Free Trade 276
 
Solution 8: Overhaul Education 277
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Détails du produit

• Auteurs: Pento, M Pento, Michael G Pento, Michael G. Pento, Pento Michael G.
• Edition: Wiley, John and Sons Ltd
• Langues: Anglais
• Format d'édition: Livre Relié
• Sortie: 17.05.2013
• EAN: 9781118457085
• ISBN: 978-1-118-45708-5
• Pages: 320
• Catégories: Sciences sociales, droit, économie > Economie > Economie publique; Volkswirtschaftslehre, Economics, Economic and financial crises and disasters, Investment and securities, Economics Special Topics, Spezialthemen Volkswirtschaftslehre