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EULA
by Cindy S. Spitzer, Robert A. Wiedemer, David Wiedemer
Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown, 4th Edition
Executive Summary
What Is a Bubble?
What Is a Bubble Economy?
What Is the Aftershock?
Acknowledgments
David Wiedemer
Robert Wiedemer
Cindy Spitzer
Preface to the Fourth Edition of Aftershock
Introduction: Your Guide to the Fourth Edition of Aftershock
Part I: The Coming Aftershock
Chapter 1: This Recovery Is 100 Percent Fake
Isn't a Fake Recovery Better than No Recovery at All?
If the Aftershock Has Not Been Canceled, Why Hasn't It Happened Yet?
Still Not Convinced This Recovery Is 100 Percent Fake?
Don't Believe the Stimulus Has to Eventually End?
Wondering Why the Aftershock Hasn't Happened Already? “Animal Spirits” Are Keeping Us Going
Please Prepare Now
Chapter 2: America’s Bubble Economy
Because Our Earlier Books Were Right, Now You Can Be Right, Too
Didn’t Other Bearish Analysts Get It Right, Too?
How the “Experts” Got It So Wrong
Predictions from Ben Bernanke and Henry Paulson—We Trust These Officials with Our Economy
Where We Have Been Wrong
Chapter 3: Phase 1: The Bubbles Begin to Burst
Bubbles “R” Us: A Quick Review of America’s Bubble Economy
From Boom to Bust: The Virtuous Upward Spiral Becomes a Vicious Downward Spiral
Pop Goes the Real Estate Bubble
Pop Goes the Stock Market Bubble
Pop Goes the Private Debt Bubble
Pop Goes the Discretionary Spending Bubble
The Biggest, Baddest, Bad Loan of Them All
Chapter 4: The Market Cliff
The Market Cliff Won’t Be Just a “Down Cycle”
Hitting the Market Cliff
The Last Resort: A Stock Market Holiday
When Is the Best Time to Get Out of the Stock Market?
Chapter 5: Massive Money Printing Will Eventually Cause Dangerous Inflation—So Why Hasn’t It Happened Yet?
What Is Inflation?
What Exactly Is Money Printing?
How Does Money Printing Cause Inflation?
Central Banks Gone Wild: The World Is Printing Money
Where Is Inflation Hiding?
The Arguments against Future Inflation Simply Don’t Hold Up
This Is Not a Plan—It’s a Panic!
The Real Problem with Rising Future Inflation: High Interest Rates
The Fed’s Big Blind Spot: They Don’t Understand Where Growth Comes From (Hint: It Doesn’t Come from Rising Bubbles or Massive Money Printing to Support the Bubbles)
When Will Inflation Begin? When Group Psychology Turns Negative after the Market Cliff
The Inflation Deniers Are Liars!
Chapter 6: Phase 2: The Aftershock
The Dollar Bubble: Hard to See without Bubble-Vision Glasses
The Government Debt Bubble Pops
The Aftershock
The Six Psychological Stages of Denial
Is There Any Scenario for a Soft Landing?
Chapter 7: Global Mega-Money Meltdown
The United States Will Suffer the Least
Think of the World’s Bubble Economy in Two Categories: Manufacturing and Resource Extraction
How the Bursting Bubbles Will Impact the World
If the World’s Bubble Economy Is Hit Harder than the U.S. Bubble Economy, Won’t That Be Good for the Dollar?
If the Rest of the World Is Collapsing, Won’t That Be Good for Gold?
International Investment Recommendations
Chapter 8: “You're No Fun”
Florida: ”You're No Fun”
Philadelphia: Wharton Meets Wall Street
Green Bay, Wisconsin: I Can Be a Cheerleader, Too—in the Right Places
North Carolina: People Know in Their Gut that What I'm Saying May Be Correct
New York City: The Turkeys Were Living the Good Life Until …
New York City Again: When You Abolish Failure, You Institutionalize Stupidity
One Last New York Story: Is He Really Smart or Really Stupid?
A State of Extreme Denial Exists in Parts of the United States
What's the Smart Money Doing Now? Just What They Did Before the 2008 Financial Crisis! Same Denial Now as Before
The Sun Will Shine after Every Storm (From My Hotel Room in North Carolina)
Part II: Aftershock Dangers and Profits
Chapter 9: Covering Your Assets
The Three Rules for Not Losing Money
These Rules Are Simple but Not Easy!
Long Term versus Short Term
Rule 1: Exit Stocks Well Before the Market Cliff
Rule 2: Stay Away from Real Estate Until after All the Bubbles Pop
Rule 3: Avoid Bonds and Most Fixed-Rate Investments as Interest Rates Rise
Where's the Best Place to Stash Cash?
How Long Must We Follow These Three Rules?
Letting Go Is Hard to Do
What Else Can I Do to Protect Myself?
Remember, Your Net Worth Is Not Your Self-Worth
Chapter 10: Cashing In on Chaos
Plenty of Profit Opportunities, but They Will Feel Quite Uncomfortable, Even Scary at Times
This Economy Is Evolving; Your Investments Should Evolve, Too
Three Goals of an Evolving Aftershock Investment Portfolio
Reducing Risk with a New Kind of Diversification
Two Other Aftershock Investments after the Bubbles Pop: Foreign Currencies and Foreign Bonds
Timing Is Everything before the Bubbles Pop, but Your Timing Won't Be Perfect
Putting It All Together
Chapter 11: Aftershock Jobs and Businesses
The Rising Bubble Economy Created Huge Job Growth; Now the Falling Bubble Economy Means Fewer Jobs
Conventional Wisdom about Future Job Growth Is Based on Faith that the Future Will Be Like the Past
Why Conventional Wisdom on Jobs Is Wrong
What's a Savvy Aftershock Job Seeker to Do?
The Falling Bubbles Will Have Varying Impacts on Three Broad Economic Sectors
Should I Go to College?
Opportunities after the Bubbles Pop: Cashing In on Distressed Assets
Dig Your Well before You Are Thirsty
Chapter 12: Understanding Our Problems Is the First Step Toward Solving Our Problems
If You Don’t Understand Why an Economy Grows, You Can’t Understand Why It Doesn’t Grow
You Need to See the Big Picture before You Start to Focus
Key Breakthroughs in the History of Economic Thought
Economics Needs a Breakthrough Big-Picture Idea like Geology Needed Continental Drift
So Why Aren’t We Getting an Alfred Wegener or a Breakthrough Idea like Continental Drift?
Economists Have Become Academia’s Version of Financial Cheerleaders
The Demands to Get Tenure and the Rewards of the Good Life after Tenure Have Delivered a One-Two Punch to Creative Economic Thought
Where to Now? Answer: Economics Needs to Move from Being a Collection of Competing Philosophies to Being a Unified Science
Four Key Elements for Making Economics More of a Science
Where Do We Stand Today in Making This Transition?
The Economics Profession Does Not Want to Make This Transition
The Solution to the Lack of Interest in Making Important Changes in Economics: The Coming Aftershock
Chapter 13: Our Predictions Have Mostly Been Accurate, So Why Do Some People Still Dislike Them?
It’s Not a Cheerleading Book
It’s Not a Complex Book (Although It Is Based on Complex Analysis)
It’s Not a Crazy Book
It’s Not an Academic Book
It’s Not Suggesting Armageddon
It’s Not a Reality-Denying Book
Us versus the Comforters: How Aftershock Stacks Up against Other Bearish Books
Appendix: Are the Bond, Stock, and Gold Markets Manipulated?
Bond Market Manipulation
Stock Market Manipulation
Gold Market Manipulation
Market Manipulation Summary
Investment Impact
Bibliography
Epilogue: Say Good-Bye to the Age of Excess
Index
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