The New Great Depression: Winners and Lo

A very no nonsense book from an author that deals with facts (his other books are excellent too ) in easy to read language a must read if you want to protect your wealth

I like Jim's books but this one is not a par with his other books. A big part is about the Corona virus with nothing to add to what we already know about it. The financial part is must smaller then I expected and did not contain must information I did not read before.

To grow we need to understand the world, this book details the property land cycle in easy to understand terms, it’s an invaluable tool for investors, especially now as the top of the cycle approaches in 2026.

In The New Great Depression, Rickards takes the reader through a measured, captivating and clear story about where the United States in particular, and the world in general, stands under the compound threats of the pandemic, economic headwinds, and rising social unrest. Rickards possesses a masterful way of explaining complex concepts and information with snappy prose. His work is punctuated with quotes from classic books and authors, as well as solid footnotes, references and citations from leading international academic, economic and media organizations. He does not attempt to tell his readers what to think, but offers plenty of room and material for them to draw their own conclusions. In addition to an introduction and conclusion, which are presented in a clear, logical fashion, Rickards divides his book into six chapters. The main theme is presented succinctly on the first page of the introduction: “This book is about a virus that caused a global depression. More precisely, it’s about how our reaction to the virus caused a global depression.” The first two chapters delve into the viral science behind the coronarius, and reasons for the onset of this particular pandemic. The third chapter discusses ways in which the national and international lockdowns have intensified the economic repercussions of the pandemic. The fourth chapter provides a historical and data-driven analysis as to why we face economic depression, and explains why it’s unlikely that the Fed’s extreme monetary policy, or various fiscal policies will fix this. The fifth chapter explores how the rise of social disorder can exacerbate the depression by hampering confidence even as certain businesses, perhaps forever altered, re-emerge. In the sixth chapter, Rickards explains how Wall Street and trading robots position themselves in the various asset markets, and why diversification across asset classes, and not sectors, is the best way for ordinary citizens to secure greater financial stability. In his conclusion, Rickards claims that, “America’s greatest economic problem today is debt.” He pragmatically notes that paying off the national debt is “completely unnecessary…what is necessary is to make the debt sustainable.” Using history as a guide, he explains that one way to do this safely, lies with gold. This is like the Fed's program of quantitative easing, or QE, but buying a hard asset, that has been used as a currency peg and for storage of wealth, instead of buying, and thus-inflating, debt. Rickards describes his use of Bayesian theory in his forecasting approach, breaking down the mathematical concept in an easy-to-follow segment. He explains how Bayesian and complexity theory and being “nimble” as fresh data is processed, has enabled him to accurately predict events, such as Donald Trump winning the U.S. presidency in 2016. He is forecasting a prolonged new Great Depression, not just a recession, because of the combined headwinds the economy is facing, and the long-term nature of the shocks and shifts it will have to endure, even with intermittent stock market rallies. Finally, he offers helpful ways for ordinary citizens to preserve and growth their financial stability in order to weather that storm. The New Great Depression is an indispensable, thought-provoking, timely treatise on where we are in this current economic period, the factors that got us here, and the path to a more secure future.

strukturiert und praxisnahes Buch!