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Have any of you heard of or read
Old 06-03-2007, 03:32 PM   #1
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Have any of you heard of or read

America's Financial Apocalypse by Stathis N. Kalyvas?

Someone mentioned it to me and I have been reading about it on Amazon.com. It is about the predicted collapse of the US economy and all the factors that contribute to it. I have just ordered it and will comment after I read it. It is a long book (about 500 pages) and isn't cheap (about $55.00)
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Old 06-03-2007, 03:48 PM   #2
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Isn't he the same guy who wrote Chicken Little?
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Old 06-03-2007, 05:34 PM   #3
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Quote:
Originally Posted by modhatter View Post
America's Financial Apocalypse by Stathis N. Kalyvas?

Someone mentioned it to me and I have been reading about it on Amazon.com. It is about the predicted collapse of the US economy and all the factors that contribute to it. I have just ordered it and will comment after I read it. It is a long book (about 500 pages) and isn't cheap (about $55.00)
Here is some others for your amusement:
The Coming Collapse of the Dollar and How to Profit from It: Make a Fortune by Investing in Gold and Other Hard Assets

Crash Proof: How to Profit From the Coming Economic Collapse

The Great Bust Ahead: The Greatest Depression in American and UK History is Just Several Short Years Away


Personally I think you just wasted $55, to each his own.
TJ
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Old 06-03-2007, 06:41 PM   #4
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America's Financial Apocalypse by Stathis N. Kalyvas?
I think that as long as people like him can get people like us to buy books for prices like that, the economy is in no danger of imminent collapse...
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Old 06-03-2007, 08:32 PM   #5
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I checked my library on-line -- doesn't have it.

I'd be interested in skimming - but at $55 won't happen.
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Old 06-03-2007, 09:57 PM   #6
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Bull markets have to climb a wall of worry. We should all be grateful to bears for without them irrational exuberance would take over and we'd have no chance of a long measured sustainable rising market.
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Old 06-04-2007, 07:34 AM   #7
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500 pages? I could have done it in one. "Cocky-Locky, the sky is falling."

These clowns are infected with bird flu caused by y2k just after some meteor hit us from outer space. Tell me what doom and gloom scenario to worry about, and I'll get right on it. After my coffee, of course.
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Old 06-04-2007, 08:47 AM   #8
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500 pages? I could have done it in one. "Cocky-Locky, the sky is falling."

These clowns are infected with bird flu caused by y2k just after some meteor hit us from outer space. Tell me what doom and gloom scenario to worry about, and I'll get right on it. After my coffee, of course.
The only thing that scares me about these books is something I learned from another old story, "The Boy Who Cried Wolf."

There have been so many of these crazy books in recent years that most of us have learned to ignore the books in realization that the authors are just trying to come up with the wildest title possible in order to put some quick cash into their pockets. But, as in the story I referenced, one day a real wolf may show up and none of us will be ready for it because these crazies have driven us to the point of ignoring all of the noise they make with their bad books.

We do need to stay alert but I doubt that one author is going to be the only person that sees an economic disaster on the horizon. When real trouble arrives, if it does, we will most likely have seen in coming for a while and I'm confident that we will have discussed it on this board beforehand.
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Old 06-04-2007, 09:28 AM   #9
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Actually, my problem with books like this is not that they are wrong in their predictions (even a broken clock...). Rather, it is that they generally spend lots of time casting gloom and doom, little time discussing the actual likelihood of the bad stuff happening, and they pitch wacky investment suggestions that are generally a really bad idea if the bad stuff doesn't happen.

A short treatise on the hows and whys of buying index puts when volatility is low would be a lot more useful.
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Old 06-04-2007, 10:00 AM   #10
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Actually, my problem with books like this is not that they are wrong in their predictions (even a broken clock...). Rather, it is that they generally spend lots of time casting gloom and doom, little time discussing the actual likelihood of the bad stuff happening, and they pitch wacky investment suggestions that are generally a really bad idea if the bad stuff doesn't happen.
A short treatise on the hows and whys of buying index puts when volatility is low would be a lot more useful.
Yea, but would it sell Probably not.
How many of John Bogle's books have you read?
TJ
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Old 06-04-2007, 10:06 AM   #11
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How many of John Bogle's books have you read?
TJ
None. Spent that time reading graduate level finance, accounting and portfolio management textbooks.
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Old 06-04-2007, 11:26 AM   #12
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Well, the issue at hand that I am concerned about is the Debt, as well as the shrinking dollar. I don't know how all of you can ignore this fact. It is staggering not only on the federal level, but with the general population as well.

I just can't close my eyes to these numbers, and I'm suprised all of you can. There are no reasonable tax hikes that can save them now. Somethinng else has to give. Actually, I am a very optimistic person, but I find it very difficult to just ignore this issue and hope for the best.
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Old 06-04-2007, 11:54 AM   #13
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Whether or not the level of debt is scary depends in how large the asset side of the balance sheet is. I'd suspect the author glossed over that part.
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Old 06-04-2007, 01:22 PM   #14
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I would be more concerned with consumer debt than that National Debt. Of course, I could change my mind.
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Old 06-04-2007, 03:41 PM   #15
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None. Spent that time reading graduate level finance, accounting and portfolio management textbooks.
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Old 06-04-2007, 03:42 PM   #16
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Yea, but would it sell Probably not.
How many of John Bogle's books have you read?
TJ
Why does it matter:confused::confused:
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Old 06-04-2007, 07:59 PM   #17
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Originally Posted by modhatter View Post
Well, the issue at hand that I am concerned about is the Debt, as well as the shrinking dollar. I don't know how all of you can ignore this fact. It is staggering not only on the federal level, but with the general population as well.

I just can't close my eyes to these numbers, and I'm suprised all of you can. There are no reasonable tax hikes that can save them now. Somethinng else has to give. Actually, I am a very optimistic person, but I find it very difficult to just ignore this issue and hope for the best.
I am curious did he talk about the Federal debt levels around 1944 or 1945. Now those were truely frightening especially when compared to GDP, and even more when you considered that a lot the WWII era GDP consisted of aircraft carriers, Sherman Tanks, P51s, none of which were particularly useful after Aug 1945.
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Old 06-04-2007, 08:08 PM   #18
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Why does it matter:confused::confused:
Because he was talking about why doesn't somebody write a
book on indexing, etc instead of these doom and gloom books.
Well, somebody has and he hasn't read it.
My point is they don't attract attention and apparently nobody
reads them, unlike the "The world is coming to an end, find out
how you can profit from it" books.
TJ
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Old 06-04-2007, 09:30 PM   #19
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"WWII era GDP consisted of aircraft carriers, Sherman Tanks, P51s, none of which were particularly useful after Aug 1945."

What about Korea? I've seen film of F4U Corsairs fighters being uncrated after being mothballed. And my dad's air force crash boat was pulled out of storage in Japan. But more to the point, post war national debt levels were about double current levels when compared to GDP.
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Old 06-04-2007, 09:40 PM   #20
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Howard Ruffs "Survive and Win in the Inflationary 80's"
Ravi Batra "Great Depression of ?" (I forget the year)

Like picking an active manager, how do I pick the crisis to prepare for?
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