The Second Great Depression
by Warren Brussee

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Book Reviews of The Second Great Depression

Book Review: Excellent book. No frills. Just facts and a solid analysis.
Summary: 5 Stars

Summary of The Second Great Depression

This is a frightening book. It shows how massive consumer debt triggered this second depression, which started in 2007/2008.

The exuberance of the overheated stock market of the 90s caused consumers to stop saving and go into debt. Then, the dramatic drop in mortgage rates enabled people to refinance their homes and go even further into debt. People were no longer living on what they could afford; instead they were living the lifestyle they thought they deserved, costs be damned!

With payments increasing, savings rates near zero, and debt at its maximum; many people were pushed over their debt limit, having homes foreclosed or going into bankruptcy. Others are heeding the warnings and reducing spending, causing a dramatic slowing of the economy.

To survive this depression, savings should be in Treasury Inflation Protected Securities, and the stock market should only be reentered after it drops 68% from its early 2008 level. Included charts show required savings for retirement in this environment.

In this depression, the United States will be brought to its knees. But not unlike the mythical bird Phoenix that dies in flames and is then reborn out of its own ashes, the United States will also be reborn. However, it will be a poorer and less arrogant country that emerges from its own ashes.

"This is a book that anyone - young, old or anywhere in between - 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."

Christopher Welker,
General Manager of Technology
for a Fortune 100 Company

Debt & Deficits Books

• Subjects > Business & Investing > Economics > Debt & Deficits
• Microeconomics
• Public Finance
• Finance
• Investing > Stocks