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The man who predicted the worst economic crisis in US history shows you how to survive it. The current crisis is not like 2008 or even 1929. The New Depression that has emerged from the COVID pandemic is the worst economic crisis in U.S. history. Most fired employees will remain redundant. Bankruptcies will be common, and banks will buckle under the weight of bad debts. Def The man who predicted the worst economic crisis in US history shows you how to survive it. The current crisis is not like 2008 or even 1929. The New Depression that has emerged from the COVID pandemic is the worst economic crisis in U.S. history. Most fired employees will remain redundant. Bankruptcies will be common, and banks will buckle under the weight of bad debts. Deflation, debt, and demography will wreck any chance of recovery, and social disorder will follow closely on the heels of market chaos. The happy talk from Wall Street and the White House is an illusion. The worst is yet to come. But for knowledgeable investors, all hope is not lost. In The New Great Depression, James Rickards, New York Times bestselling author of Aftermath and The New Case for Gold, pulls back the curtain to reveal the true risks to our financial system and what savvy investors can do to survive -- even prosper -- during a time of unrivaled turbulence. Drawing on historical case studies, monetary theory, and behind-the-scenes access to the halls of power, Rickards shines a clarifying light on the events taking place, so investors understand what's really happening and what they can do about it. A must-read for any fans of Rickards and for investors everywhere who want to understand how to preserve their wealth during the worst economic crisis in US history.


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The man who predicted the worst economic crisis in US history shows you how to survive it. The current crisis is not like 2008 or even 1929. The New Depression that has emerged from the COVID pandemic is the worst economic crisis in U.S. history. Most fired employees will remain redundant. Bankruptcies will be common, and banks will buckle under the weight of bad debts. Def The man who predicted the worst economic crisis in US history shows you how to survive it. The current crisis is not like 2008 or even 1929. The New Depression that has emerged from the COVID pandemic is the worst economic crisis in U.S. history. Most fired employees will remain redundant. Bankruptcies will be common, and banks will buckle under the weight of bad debts. Deflation, debt, and demography will wreck any chance of recovery, and social disorder will follow closely on the heels of market chaos. The happy talk from Wall Street and the White House is an illusion. The worst is yet to come. But for knowledgeable investors, all hope is not lost. In The New Great Depression, James Rickards, New York Times bestselling author of Aftermath and The New Case for Gold, pulls back the curtain to reveal the true risks to our financial system and what savvy investors can do to survive -- even prosper -- during a time of unrivaled turbulence. Drawing on historical case studies, monetary theory, and behind-the-scenes access to the halls of power, Rickards shines a clarifying light on the events taking place, so investors understand what's really happening and what they can do about it. A must-read for any fans of Rickards and for investors everywhere who want to understand how to preserve their wealth during the worst economic crisis in US history.

30 review for The New Great Depression: Winners and Losers in a Post-Pandemic World

  1. 5 out of 5

    B

    I found this short, vociferously pompous book way below par so much so that I think 80 percent of its physical content could have been better used as recycled paper cups at a coffee stand. The book makes certain “dramatic” or controversial claims without backing them up with supporting evidence, nor offering any logical advice. It is also strewn with false (or quasi-false statements at best) and misleads the average reader with wild statements – such as claiming that lockdown is unconstitutional I found this short, vociferously pompous book way below par so much so that I think 80 percent of its physical content could have been better used as recycled paper cups at a coffee stand. The book makes certain “dramatic” or controversial claims without backing them up with supporting evidence, nor offering any logical advice. It is also strewn with false (or quasi-false statements at best) and misleads the average reader with wild statements – such as claiming that lockdown is unconstitutional (1- debatable, 2- who cares in such an emergency?), that full lockdowns do not work, that the policymakers are utterly clueless (but he, the author, of course knows better) etc. The most aberrant claim the author makes that made me fall of my chair was “flattening of the curve means elongating the curve… total cases and fatalities are defined by the total area under the curve, not by the height at a particular point.” While this is technically correct, the author seems to be deficient in common sense when he looks over the fact that more people would be infected if it the curve is not flattened, making the pandemic more prevalent and painful. The author who does not miss a chance to display his self-assurance, opens the book by claiming that the response to the Covid-19 is a “cure worse than the disease” that will sink the US economy to the depts of economic Hades – the author, I found out later, has a streak of making super-gloomy forecasts since he took up writing. He further claims that no alternative strategy other than a full lockdown was considered/used. Mysteriously, he glosses over that there never really was a national lockdown to begin with, let alone offering what these “alternatives” he refers to. His logical fallacy extends to comparing past policies in fighting drugs, alcohol – without noting the main difference they all have with the virus, i.e., that the virus is an exogenous factor, so cannot really be… regulated. I must say that I can never wrap my head around some of the “worries” mentioned by the author –and I hear them only in American circles… These are the potential necessity to live with negative growth rates for a few years, the drop in consumption/spending (oh the horror!), the allergy Americans have against any type of governmental authority, that Americans suffer “psychosocial effects” due to lockdown (whereas no other people on earth do, or complain about…) Meanwhile the author gives an implicit nod to protestors showing up with semiautomatic rifles in public places… Go figure. His “precious” investment advise is also quite laughable, purportedly advocating to “use models that work” and “front-run robots” to time the market. This is akin to telling someone “buy low, sell high” – sound in theory, but impossible of course in practice. His evaluation of economic theories such as the magic mountain theory (modern monetary theory, which I find to be utter...), monetarism; the misuse of statistics (such as unemployment numbers); as well as his research on the virus, however, earns the author a star.

  2. 4 out of 5

    Oleksandr

    Too short, too little interesting info.

  3. 5 out of 5

    Sangam Agarwal

    Complete waste of time. If you have read his previous books than you will understand the difference. Don't expect that level of quality. Same things over and over again. Complete waste of time. If you have read his previous books than you will understand the difference. Don't expect that level of quality. Same things over and over again.

  4. 4 out of 5

    Darya

    Good book with good reaserch. I liked different perspectives and interesting views on pandemic situation, analysis on virus and economic conditions connected to lockdown. Definitely the author has done a deep research on all the topics covered.

  5. 5 out of 5

    Pedro L. Fragoso

    Probably his best, certainly his most important and timely.

  6. 4 out of 5

    Christopher

    Obnoxiously arrogant and political, stuffed with baseless conjecture, The New Great Depression applies no quantitative reasoning or data-driven analysis to any of the author-journalist’s major theses or sporadic claims. For a quarter of the book, Richards evolves into an investment advisor, unconvincingly forecasting a 700% price increase in gold only four years out from the book’s publishing. Richards then confusingly encourages the base reader to allocate only minuscule fractions his/her inves Obnoxiously arrogant and political, stuffed with baseless conjecture, The New Great Depression applies no quantitative reasoning or data-driven analysis to any of the author-journalist’s major theses or sporadic claims. For a quarter of the book, Richards evolves into an investment advisor, unconvincingly forecasting a 700% price increase in gold only four years out from the book’s publishing. Richards then confusingly encourages the base reader to allocate only minuscule fractions his/her investable assets into the commodity, promoting 30% liquid cash as the “ideal investment allocation.” This comes despite the author’s concession that short-term inflation may take hold before a more permanent deflationary environment develops in the “new Great Depression.” The author-journalist either hedges all of his claims, or refuses to provide data-based explanations for how he arrives at those claims. The journalist-author routinely falls into playing armchair epidemiologist, writing preposterous, unevidenced passages like, “school closures accomplish little because children have good resistance to SARS Cov-2. Children don’t get COVID-19 from other children, they get it from adults, and they’ll encounter more adults at home than at school.” His prognostications that no vaccine can ever be used to effectively curb COVID-19 appear silly and uninformed only weeks post-publication. The political agenda of the journalist-author resonates throughout. Despite the book’s central thesis that the state-by-state lockdown decisions of 2020 represented the worst policy blunders in American history, the author only ever critiques decisions with hindsight bias, focusing instead on his own arbitrary predictions for the future while also managing to tout that he correctly predicted both the 2016 election and Brexit. At best, this book should have been reduced by 75% and put into a periodical op-ed; I can’t see myself reading anything else Mr. Richards has to write.

  7. 4 out of 5

    Kiran Krishnamurthi

    A one star review means the author does not deserve money for publishing this book. I found Rickards account of what should be an objective situation to be extremely charged and tainted with his biased opinions. Beginning with his analysis of the virus's origins to his desire for a reversion to the gold standard, Rickards tries to get the reader to buy into his ideas as "fact" and as if there is no reasonable alternative. In reality, his stances are more often asserted and accompanied by slanted A one star review means the author does not deserve money for publishing this book. I found Rickards account of what should be an objective situation to be extremely charged and tainted with his biased opinions. Beginning with his analysis of the virus's origins to his desire for a reversion to the gold standard, Rickards tries to get the reader to buy into his ideas as "fact" and as if there is no reasonable alternative. In reality, his stances are more often asserted and accompanied by slanted facts that obviously support his stance. He's got an agenda and this book is his attempt for you to drink his kool-aid. Now, independent of whether or not I agree with his agenda I think there is definitely an overarching problem with his book and that's the lack of depth. He drops fancy jargon when it comes to predictive analysis, modeling, economics, etc. But behind his facade of academia, he's really just whining about how damned the country is for 160+ pages. He does explain, in detail, how current solutions are failing to address the root of the problem and how we must be a lot more conservative in our recovery outlook. But not once does Rickards outline what a good recovery looks like. The closest he comes to this is by saying we get back to a gold-pegged dollar. Where does job creation happen? What sectors grow? What sectors die? What is the public sector relationship like with the private sector? What social issues are solved? How is the environment factored into solutions? How equitable will a good recovery be? These are all fundamental questions about what a post-pandemic world will look like, but they're all absent in this book.

  8. 4 out of 5

    Andy Bizzle

    I really like and respect the author, reading all of his books. Sadly, this one seems rushed and unimaginative. It's short, somewhat biased, and for the first time I was unable to shake the feeling that it was just an attempt to monetise the crisis. Nothing very new in terms of portfolio recommendations compared to his other books. Conspicuous lack of coverage of alternative asset classes like bitcoin (think what you like about it but it deserves a mention in the context of gold at least). In hi I really like and respect the author, reading all of his books. Sadly, this one seems rushed and unimaginative. It's short, somewhat biased, and for the first time I was unable to shake the feeling that it was just an attempt to monetise the crisis. Nothing very new in terms of portfolio recommendations compared to his other books. Conspicuous lack of coverage of alternative asset classes like bitcoin (think what you like about it but it deserves a mention in the context of gold at least). In his advancing years, Mr. Rickards seems to be becoming ever more steadfast in his views and makes an increasing number of unsupported claims. He talks about what he predicted right but never about what he got wrong (e.g. Trump's reelection). Much preferred his older stuff like Currency Wars from which I learned a huge amount and was very interested in the history and context.

  9. 5 out of 5

    Nikola Bakic

    The weakest work by Jim Rickards, by far. Too short, and a regurgitation of all of his previous views and ideas wrapped in the cover of pandemic and “new Great Depression” that he’s predicting. Might be an okay read for those who are not familiar with his previous works

  10. 4 out of 5

    Arjen Briene

    The last wo books of this author add little to what he has written before. This book in that regard even less than the previous book. That is a pity. Maybe there is so much that can be written about the subject before saturation kicks in.

  11. 5 out of 5

    Brad Boyson

    Over the years I've learned so much from JR. He is rare polyglot in the rubric of logic - to be admired. But this book falls well short of his previous. Many of the islands of logic contradict themselves and his reoccurring premise that 'lockdowns dont work' is tantamount to theoretical physics - one can always doubt experiments that exist in a 1:1 scale; and doubt is a double edge that cuts both ways. Cant recommend this one, clearly rushed to publish, much shorter in length than previous, and Over the years I've learned so much from JR. He is rare polyglot in the rubric of logic - to be admired. But this book falls well short of his previous. Many of the islands of logic contradict themselves and his reoccurring premise that 'lockdowns dont work' is tantamount to theoretical physics - one can always doubt experiments that exist in a 1:1 scale; and doubt is a double edge that cuts both ways. Cant recommend this one, clearly rushed to publish, much shorter in length than previous, and the sense of a vested agenda is much stronger than in previous more objective works. Plus the author is always careful to conclude with an agnostic 'balanced portfolio' disclaimer even though the latter is entirely inconsistent with backbone narrative that one needs to be agile and not blindly long term. I think they call that intellectual hedging.

  12. 4 out of 5

    Cynthia

    This book was not a total waste of time and money. The verbose 33 pages of chapter 6 actually provided information that supported the premise of the book. However, for $29.00 I feel this could have been published in an article and sold on a newsstand for much less. This is the first time I have read this author. I am deeply disappointed. The book overall is rushed and lacking. I will definitely borrow before I purchase again. Most importantly, I will read the reviews.

  13. 5 out of 5

    Alexander Fitzgerald

    Books are incredible. They allow you to have a conversation with someone you would normally never be able to reach. Obviously, the chat is pretty one-way, but that's fine. There have been many times in my life I've had a coffee with someone and just listened the entire time. This book was like paying $10.00 to grab a coffee with your extremely contrarian friend working in finance. Of course, you take everything he says with a grain of salt, and you don't agree with everything. But damn, he's cert Books are incredible. They allow you to have a conversation with someone you would normally never be able to reach. Obviously, the chat is pretty one-way, but that's fine. There have been many times in my life I've had a coffee with someone and just listened the entire time. This book was like paying $10.00 to grab a coffee with your extremely contrarian friend working in finance. Of course, you take everything he says with a grain of salt, and you don't agree with everything. But damn, he's certainly not boring. I always want to hear the dissenters. Even if I don't necessarily agree with 90% of what they say the 10% could be absurdly valuable in my life. I felt James Rickards didn't waste my time. He seems to truly believe in what he says, and he had the decency to be entertaining.

  14. 4 out of 5

    Cain S.

    3/5 The most interesting chapters, ironically for a book ostensibly about the economics of the pandemic, are about possible origin of the virus in a lab instead of wet markets; the psychological effect of the pandemic on individuals and society with reference to the understated effect of the Spanish flu; and articulating objections to the MMT inspired bid of the US to stimulate the economy by printing money. The economic argument against the strategic ineffectiveness of lockdowns is decisive. But 3/5 The most interesting chapters, ironically for a book ostensibly about the economics of the pandemic, are about possible origin of the virus in a lab instead of wet markets; the psychological effect of the pandemic on individuals and society with reference to the understated effect of the Spanish flu; and articulating objections to the MMT inspired bid of the US to stimulate the economy by printing money. The economic argument against the strategic ineffectiveness of lockdowns is decisive. But somehow the author's investment advice is laughably simplistic and lowers his credibility as an economic commentator. The wet market theory of the origin of the virus is put paid by the fact that animals sold in the markets were not found to be carriers of the relevant strain of virus. The Chinese government took aggressive steps to destroy lab samples and research records pertaining to work on coronaviruses being clandestinely carried out by Chinese researchers. The fact that the virus was not genetically engineered doesn't preclude the possibility that it was a naturally occurring virus isolated in a lab for routine research and leaked out due to inadequate safety protocols. Alcohol and drug abuse have increased during the lockdown. Social symptoms of psychological distress related to pandemic inflicted unemployment, lockdown, and erosion of trust in public institutions are seen in increased instances of rioting and protest. We're likely to see more interclass conflict and anomic situations erupt in the coming years. Lockdowns were sold with the slogan of flattening the curve without popular dissemination of the mathematical fact that this doesn't imply a decline in the number of total deaths. It merely means deaths happen at a lower rate over a longer duration of time; the net loss of life is identical irrespective of whether the curve is flat or steep. The curve flattening achieved by lockdowns merely added economic hardship to the burden of the pandemic hurting those not affected by the virus without helping those already affected by it. The sophistical rhetoric of "saving grandma is more important that saving the economy" obscured the facts that the the number of lives saved did not increase on account of lockdowns and the number of lives lost and imperiled due to the economic downturn increased. Saving lives at all costs is not pragmatically or ethically warranted. Reducing the speed limit to 40MPH would save a huge number of lives but it is not considered a valid reason to reduce the speed limit given the attendant productivity losses we can expect. Banning all motor vehicles would save an even bigger number of lives; but the negative economic impact of abandoning motor transport is far too onerous to hand-wave away with lives-over-dollars bullshitting. Finally, the author's criticism of MMT-friendly policy of printing money till the government can afford everything citizens need is both cogent and elegant. Indiscriminate printing of money causes inflation, while fiscalizing current expenditures erodes faith in the government's ability to honor its obligations in the future. The limit of fiscalizing debt is reached when additional securitized money no longer prompts businesses to invest, or customers to buy, because they see saving as the only way to meet future tax obligations which are the underlying of government debt spending. The extra money in the system eventually loses velocity [staying with the recipient rather than being invested in productive and consumption activities which are the material engine of real growth]. High inflation and low velocity trigger deflation, which governments hate because their printed money is worth less in real terms. Unfortunately, governments have no policy remedies for deflation.

  15. 5 out of 5

    Donna Hines

    Not only the best but the most timely and accurate portrayal that I've read all year. The New Great Depression doesn't focus solely upon tossing out numbers, figures, stats at the reader instead James Rickards provides an up front and personal view of not just how to manage our current economic crisis but to do so with expertise and skills that will help pay the bills. Why not invest in gold when it's at 2k per ounce and may top at 3k ... What do you have to lose in going back to work rather than w Not only the best but the most timely and accurate portrayal that I've read all year. The New Great Depression doesn't focus solely upon tossing out numbers, figures, stats at the reader instead James Rickards provides an up front and personal view of not just how to manage our current economic crisis but to do so with expertise and skills that will help pay the bills. Why not invest in gold when it's at 2k per ounce and may top at 3k ... What do you have to lose in going back to work rather than waiting for the next stimulus? With so many out of work it's not surprising that consumers are afraid to spend and are carefully squirreling away money like they did in the Great Depression. One way to curb the worst crisis in American history is to play hard ball and WIN using savvy investor advice to not only survive but thrive and prosper. Discussions centered around the real estate market, unemployment, stocks, treasury bonds, gold, the US dollar, and so much more. Sink or swim now's your chance to understand when, where, how, and why to do what needs to be done in order to stay afloat. The new Corona virus has certainly caused a whirlwind for the restaurant, hospitality, recreation, and entertainment industries. This book would be ideal for those in this sector to understand the bad debt buckle of banks, deflation, bankruptcy, social disorder, and everything related to gaining traction to stay ahead. This was so intriguing, inviting, and simplistic that anyone can learn and take away something to their advantage. Thank you to James Rickards, the pub, NetGalley, and Amazon Kindle for this ARC in exchange for this honest review.

  16. 4 out of 5

    Paige Gordon

    This book offers a really intriguing look at the pandemic, our response to it, and what we can except to happen in the future in light of that response. It's not light or easy reading, but it is definitely worthwhile if you'd like to gain more understanding of what is going on and how you can offset some of the craziness from the world around you. Favorite Quote: "America’s greatest economic problem today is debt. The size of the debt blunts monetary and fiscal policy. Monetary policy fails beca This book offers a really intriguing look at the pandemic, our response to it, and what we can except to happen in the future in light of that response. It's not light or easy reading, but it is definitely worthwhile if you'd like to gain more understanding of what is going on and how you can offset some of the craziness from the world around you. Favorite Quote: "America’s greatest economic problem today is debt. The size of the debt blunts monetary and fiscal policy. Monetary policy fails because concern about debt causes Americans to save rather than spend. This kills velocity and makes money printing impotent. Low rates don’t help, because that forces more precautionary saving to meet personal goals. Fiscal policy fails for the same reason. With debt levels so high, Americans expect default, higher taxes, or inflation. All three outcomes are reasons to save more today in anticipation of bad outcomes in the future. The U.S. economy is in a liquidity trap, and it’s worse than the one that existed in the 1930s because the government can’t replace the consumer; the government is the point at issue."

  17. 4 out of 5

    Robin

    Great book - concise and relevant. Unsurprisingly, given the polarized and partizan mania that stifles public debate around anything to do with 'lockdown', some people can't see past Rickards' well articulated view that the policy response(s) to the COVID-19 pandemic have been an incoherent mess. Personally, I recognize this as an uncontroversial statement of fact which we can verify by examining events, statistics and further inflamed rancour in social discourse on all of the above. But the mai Great book - concise and relevant. Unsurprisingly, given the polarized and partizan mania that stifles public debate around anything to do with 'lockdown', some people can't see past Rickards' well articulated view that the policy response(s) to the COVID-19 pandemic have been an incoherent mess. Personally, I recognize this as an uncontroversial statement of fact which we can verify by examining events, statistics and further inflamed rancour in social discourse on all of the above. But the main point of the book is not actually a discussion on policy responses to pandemics; it's a well presented view of how in economic terms, the 'literally unprecidented' shocks which we've seen in markets (including the labour market) indicate the die has been case for an era of economic depression, and what this might mean to people, and how they might mitigate effects of the coming depression on their own lives.

  18. 5 out of 5

    Reganjames

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  19. 4 out of 5

    Kate Windnagel

    Really not worth the read. Trying to broaden my reading to include "the other side", but honestly - this was nonsense. The entire opening was baseless conjecture about the origins of Covid-19, the irresponsibility of locking down in attempting to slow the spread, and the immateriality of wearing masks. He tried to make his arguments valid by citing a WMD classic, 'The Great Influenza', by John Barry, but managed to make his citations anachronistic, which I didn't think was possible [... that mas Really not worth the read. Trying to broaden my reading to include "the other side", but honestly - this was nonsense. The entire opening was baseless conjecture about the origins of Covid-19, the irresponsibility of locking down in attempting to slow the spread, and the immateriality of wearing masks. He tried to make his arguments valid by citing a WMD classic, 'The Great Influenza', by John Barry, but managed to make his citations anachronistic, which I didn't think was possible [... that mask-wearing in 1918 was inadequate, the only way to protect yourself was to limit exposure, and equating that to today's masks and today's success rate of mask-wearing]. Anyway- his position was made clear in the first few paragraphs but he failed to persuade me in any other way.

  20. 5 out of 5

    Jason

    I read this book based on Zora's recommendation. It has some good parts, but to me the book suffered from not knowing what it wanted to be... I am a physician. I did not understand why so much of the book was devoted to the medicine behind Covid. It went on and on and on. It got really detailed and had many chapters that seemed to differ from the reason I want to read the book: in order to pick "winners and losers in a post-pandemic world." Once it finally got to the meat (at the end), I understo I read this book based on Zora's recommendation. It has some good parts, but to me the book suffered from not knowing what it wanted to be... I am a physician. I did not understand why so much of the book was devoted to the medicine behind Covid. It went on and on and on. It got really detailed and had many chapters that seemed to differ from the reason I want to read the book: in order to pick "winners and losers in a post-pandemic world." Once it finally got to the meat (at the end), I understood why Zora recommended it. However, I think the book really lacks focus. I found myself mostly frustrated. Yet, however, I was glad I read for the final payoff chapter. I also agree with the author that the lock-downs will go down as the worst decision in history.

  21. 4 out of 5

    Jason Stopper

    This is a great book that makes a complex topic easy to understand in our current world situation. James Rickards understands the MMT and why it is danger as a way to manage our economy. The steps we can take in order to achieve or continue to achieve freedom, regardless of what happen in the macroeconomic manner. The information is organized and well written. This is a complex topic and Rickards wove the current pandemic within the current economic state brilliantly. If you want to start unders This is a great book that makes a complex topic easy to understand in our current world situation. James Rickards understands the MMT and why it is danger as a way to manage our economy. The steps we can take in order to achieve or continue to achieve freedom, regardless of what happen in the macroeconomic manner. The information is organized and well written. This is a complex topic and Rickards wove the current pandemic within the current economic state brilliantly. If you want to start understanding what it going on with the Fed Reserve and Treasury and how it impacts you, pick up this book and start learning. Great book for newcomers!

  22. 5 out of 5

    Ryan

    This book is far from perfect, and gets a few things completely wrong (disproven by history in one case, and lacking knowledge of the marketplace in the other). However, it makes a bunch of arguments which are very good, and is generally correct on its core message -- that the economic lockdown was unprecedented, misguided, and caused lasting harm which will not go away quickly once the covid-19 situation itself normalizes. Essentially, he's arguing for a return to a gold standard -- either overt This book is far from perfect, and gets a few things completely wrong (disproven by history in one case, and lacking knowledge of the marketplace in the other). However, it makes a bunch of arguments which are very good, and is generally correct on its core message -- that the economic lockdown was unprecedented, misguided, and caused lasting harm which will not go away quickly once the covid-19 situation itself normalizes. Essentially, he's arguing for a return to a gold standard -- either overtly, or simply through open market repurchases of gold. However, he recognizes the western governments (unlike Russia and China) won't do this, and yet doesn't propose anything better.

  23. 5 out of 5

    Zulfiqar Khan

    A controversial book principally because the author doesnt believe lockdowns work to contain the virus, and contends that more damage was caused by having them than otherwise. He measures this damage principally in economic terms and yet the human cost of lives lost from covid should be paramount. Some useful background is provided on the covid crisis and the impact (or ultimate lack of) of the monetary and fiscal stimuli by central bankers and the governments on the US economy. The best parts a A controversial book principally because the author doesnt believe lockdowns work to contain the virus, and contends that more damage was caused by having them than otherwise. He measures this damage principally in economic terms and yet the human cost of lives lost from covid should be paramount. Some useful background is provided on the covid crisis and the impact (or ultimate lack of) of the monetary and fiscal stimuli by central bankers and the governments on the US economy. The best parts are the author's prescriptions on portfolio allocation for the post covid world, the need for inflation to stimulate recovery and the importance of gold.

  24. 5 out of 5

    Elisa

    More books you read, wider will be your preferences. For the first time, i can't really finish the book with read all of the passages and word by word. This books put too much datas rather than telling the issues itself, and it was boring. If I compare with some Michael Lewis's Books or other wall street journalists, i did not find any fine moment or something enjoyable to read here. But, maybe since this book told us about pandemic, than right now we were in pandemic, so i choose the wrong book to More books you read, wider will be your preferences. For the first time, i can't really finish the book with read all of the passages and word by word. This books put too much datas rather than telling the issues itself, and it was boring. If I compare with some Michael Lewis's Books or other wall street journalists, i did not find any fine moment or something enjoyable to read here. But, maybe since this book told us about pandemic, than right now we were in pandemic, so i choose the wrong book to read since i am more depressed by reading it. So, yes, only my preference though

  25. 4 out of 5

    Mark Bobak

    Many wrong assumptions and lacking key data Book out of date already. Author writes as if deflation is the default without any thought of demographics, which is key. Author also does not take into consideration bit coins influence on the price of gold which is considerable as of 4/1/21. Until bit coin crashes, gold will remain flat. Author also does not take into consideration bankruptcies once the fed/government backs of proving up certain sectors. The book is thought provoking though.

  26. 5 out of 5

    Álvaro Montero

    This review has been hidden because it contains spoilers. To view it, click here. Great insights. Especially interesting is the last chapter, which gives you hints and advice about the possible asset allocation. Overall, USD strong in the short term, bearish in the long term. Comercial real estate from last quarter of 21. S&P 500 tech securities maybe bullish in the short/mid term due to the momentum. Interesting opportunities in energy, mining, space and defense. Good book, provides you fresh and powerful ideas to face the new great depression.

  27. 4 out of 5

    Jacques Decarie

    Written with a chip on his shoulder. His diatribe on MMT might as well have been written in Greek. I wouldn’t invite him back either. Rips the lockdown but offers no alternative. Good info on the Spanish flu and Great Depression. Seemingly sound approach to balanced investing. You think he’s stretching a but by blaming riots on COVID? Reasonable structure on future of commercial and residential real estate. Logical description of the notion of velocity.

  28. 4 out of 5

    B. G.

    So there’s a guy named Bora something or other who reviewed the book blocked me because I commented on his review. He wants to write a scathing review only for you to applaud, not to reply to challenge. Very brittle and weak. Anyway, he dismissed the book and I questioned if he actually read of understood the content. I welcome his or anyone else comments.

  29. 5 out of 5

    Piccolo

    I liked previous books of the author, but this one is just a collection of low quality data. Doesn't present views or opinions from the author, just random data collected from articles, statistics pages and research papers. Would be better fit for a few Excel sheets, so it could be parsed and graphed, not a book. I liked previous books of the author, but this one is just a collection of low quality data. Doesn't present views or opinions from the author, just random data collected from articles, statistics pages and research papers. Would be better fit for a few Excel sheets, so it could be parsed and graphed, not a book.

  30. 5 out of 5

    Dan

    His conclusion is that deflation will persist but can be broken by the Fed buying gold to devalue the dollar in turn decreasing the real value of debt. He contends that the pandemic shut down has damaged economies so much that it will take many years to recover. The monetary and fiscal stimulus will not help create growth because confidence is low and money velocity with it.

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