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Crash Proof: How to Profit From the Coming Economic Collapse (Lynn Sonberg Books) | 
 enlarge | Authors: Peter D. Schiff, John Downes
Publisher: Wiley
Category: Book
List Price: $27.95
Buy New: $14.88
You Save: $13.07 (47%)
New (38) Used (15) from $14.88
Avg. Customer Rating:  233 reviews
Sales Rank: 1332
Media: Hardcover
Number Of Items: 1
Pages: 288
Shipping Weight (lbs): 1.1
Dimensions (in): 9.1 x 6.2 x 1.1
ISBN: 0470043601
Dewey Decimal Number: 332.60973
EAN: 9780470043608
ASIN: 0470043601
Publication Date: February 26, 2007
Availability: Usually ships in 1-2 business days
Shipping: International shipping available
Condition: BRAND NEW
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Product Description
The economic tipping point for the United States is no longer theoretical. It is a reality today. The country has gone from the world's largest creditor to its greatest debtor; the value of the dollar is sinking; domestic manufacturing is winding down - and these trends don't seem to be slowing. Peter Schiff casts a sharp, clear-sighted eye on these factors and explains what the possible effects may be and how investors can protect themselves. For more than a decade, Schiff has not only observed the U.S. economy, but also helped his clients reposition their portfolios to reflect his outlook. What he sees is a nation facing an economic storm brought on by growing federal, personal, and corporate debt, too-little savings, a declining dollar, and lack of domestic manufacturing.
Crash-Proof is an informed and informative warning of a looming period marked by sizeable tax hikes, loss of retirement benefits, double digit inflation, even - as happened recently in Argentina - the possible collapse of the middle class. However, Schiff does have a survival plan that can provide the protection that readers will need in the coming years.
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| Customer Reviews: Read 228 more reviews...
 Disappointing September 7, 2008
This book spends pages and pages talking about stuff I have heard many times: the dollar is falling, we do not save enough, we have too much debt, the US Government is not helping the economy but hurting it, we need sound money, you should buy gold, etc. At the same time, in a few places, the author recommends, sometimes subtly, what is apparently a brokerage firm in which he has an interest - Euro Pacific Capital. Except for the latter recommendation and the one to buy gold, there are few other specific recommendations worth talking about. The book can be summarized as follows: The US economy is failing and will probably not soon recover, so buy gold and use the Euro Pacific Capital brokerage to buy some good foreign stocks.
 Reluctantly impressed... September 5, 2008
I have seen Peter Schiff for a couple of years now on CNBC, FOX, Kudlow etc. Frankly he does not come off all that well on TV, he scoffs and is somewhat sneery, voluble and impatient. Other panelists often tend to be dismissive and mocking towards him. I have to say I took a disliking to him and wondered why they bothered to include him. The fact that his father seems to be a crackpot tax protester who is in federal prison until 2016 doesn't lend much confidence either. But the last year is making the so-called perma-bull cranks look prescient. I decided I needed to read his book so I got it from the library and just finished it.
He is much more impressive in print than on TV. If I had read it a year ago I would have glossed over some of his concerns, like Fannie Mae and Freddie Mac possibly failing. But to read that now just might put a bolt into you. The majority of his points make very good sense to me. He lays out the reasons why the dollar and economy are headed for disaster and although I realize that case has been made for years I really have nothing to refute those points with. Probably the most convincing part of the book for me are his prescriptions for avoiding the coming mess by getting into gold, foreign investments and currency. The advice seems pretty sensible and at the least no more risky than being in the US markets. I think he makes a plausible case why that is almost a can't lose scenario. Of course gold is off it's recent high by about $200 an ounce as of today. Is it a buying opportunity or a chance to get burned? The usual dilemma.
I have always been optimistic about the American people and economy, we are probably still the most dynamic society on earth. I took to heart the advice that no one ever got rich betting against the US. Frankly I am a sensible but conventional wisdom kind of guy. But we have now seen decades of irresponsibility in government, corporate and household accounting and lately I am feeling like I have been misinformed, lied to and BS'd by every so called expert in the media and corporate world, not to mention the government. Having said that, what I would like to see is someone of impeccable credentials review and address Mr. Schiff's points and possibly offer a rebuttal. When I google Schiff or Euro Pacific Capital I find it hard to find any performance statistics or relevant critiques of him. But I will definitely state that his book is worth reading and giving serious thought to. If anyone can point to a reasonable discussion or info associated with him or his company I would appreciate a message to that effect.
Crash Proof August 25, 2008
I read this book from cover to cover, and found it to be very helpful and easy to understand. I contacted Peter's organization, Euro Pacific, and am considering having them help me with some investments.
Gloomy forecaster offers a bright economic alterative August 15, 2008
Contrarian investor Peter D. Schiff isn't just a bear. He's a sky-is-falling, bury-the-Krugerrands-in-the-backyard bear. Writing with John Downes, Schiff argues that the U.S. economy is going to hell, and that clueless consumers, opportunistic Wall Streeters and pandering politicians are carrying the handbasket. Schiff's screeching tone is a bit grating - until you realize that many of his predictions have proven accurate. That doesn't mean you shouldn't take him with a grain of salt, but this book was published in 2007, and in mid-2008, Schiff's forecasts of a weakening dollar, rising gold prices, a bursting real-estate bubble and strong foreign stock markets were spot-on. His pessimistic polemic could use more practical advice and less macroeconomic analysis, but still getAbstract recommends it to those who seek an alternative viewpoint.
Dr. Truth! August 12, 2008
1 out of 1 found this review helpful
Peter is easily one of the best forecasters of his generation. His honest approach to the current economic demise that we are facing is a breath of fresh air. Schiff, unlike most of his peers, is not a pom-pom waving cheerleader - he tells it like it is...and he's been almost bang on 100% right.
The book is a must have for all who are looking for ways to protect their wealth in these uncertain times.
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