Product Description

he 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.

Product Details

• Amazon Sales Rank: #635 in Books
• Published on: 2007-02-26
• Number of items: 1
• Binding: Hardcover
• 288 pages

From the Inside Flap
From both an economic and monetary perspective, the United States is a house of cards—impressive on the outside, but a disaster waiting to happen beneath the surface. In a relatively short period of time, the country has gone from the world's largest creditor to its greatest debtor; the value of the dollar has declined; and domestic manufacturing has given way to non-exportable services. While these and other issues could potentially spell disaster for your financial well-being, the situation could also present unique opportunities—if you're prepared.

For more than a decade, seasoned Wall Street prognosticator Peter Schiff has not only observed the U.S. economy, but also helped his clients restructure their portfolios to reflect his outlook. What he sees today 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.

Now, in Crash Proof, Schiff provides you with an insightful examination of the structural weaknesses underlying this impending economic meltdown, and discusses the measures you can take to protect yourself—as well as profit—during the difficult times that lie ahead. Using common-sense analysis, creative analogies, and easy-to-understand language, Schiff entertains as well as educates. While Schiff carefully details the grave economic forces pushing the United States closer to the edge, he also outlines a specific three-step plan that will allow you to preserve wealth and protect the purchasing power of the savings you have worked a lifetime to accumulate.

Step #1: Rethinking Your Stock Portfolio: shows you exactly how to replace your endangered U.S. dollar holdings with a portfolio of foreign securities that are safer, significantly higher yielding, and appropriate for any investment objectives

Step #2: Gold Rush: examines the various ways you can capitalize on the bull market in gold, as well as silver, and explains how these precious metals can add both safety and exciting growth potential to a conservative foreign stock portfolio

Step #3: Stay Liquid: discusses the importance of liquidity in times of financial uncertainty—from having enough money for living expenses to keeping a reserve of uncommitted cash that can be used to acquire assets at bargain prices

Investing using conventional wisdom will not work during times of financial distress. That's why Crash Proof has taken the reality of today's economic situation into account as it offers you guidance. Filled with in-depth insights and expert advice, Crash Proof will help you survive and thrive during the coming years of economic uncertainty.

From the Back Cover
Praise for Crash Proof

"The dot-com implosion proves that we all need Peter Schiff's vision of investing.?His view is so global and so unique in its approach, and at a time when we all should be looking to crash-proof our portfolios, Schiff offers us this much-needed life-raft."
—Liz Claman, Cohost, CNBC Morning Call

"For those accustomed to America's economic dominance, Crash Proof is a frighteningly forthright wake-up call. But Peter Schiff is one Cassandra whose voice deserves your rapt attention. Devoid of the usual Wall Street spin, this frank and prophetic read will make you reconsider the very foundations on which your financial house is built."
—Jonathan Hoenig, Portfolio Manager, Capitalistpig Hedge Fund LLC and FOX News Channel analyst

"Schiff does an outstanding job of outlining the dangers to individual investors of the current economic environment and presents a plausible plan about how to deal with the risks."
—David W. Tice, Portfolio Manager, Prudent Bear Funds

"A sober assessment of the financial problems facing our country. Reading this book will prepare you for potential outcomes that Wall Street and the mainstream financial media are completely unaware of."
—Bill Fleckenstein, founder and President of Fleckenstein Capital and MSN.com Money columnist

About the Author
PETER D. SCHIFF is a seasoned Wall Street prognosticator best known for his accurate predictions of the performance of the stock market, commodities, gold, and the dollar. He began his career at Shearson Lehman and joined Euro Pacific Capital (a broker-dealer with expertise in foreign markets and securities) in 1996, becoming President of the firm in 2000. Schiff is often quoted in major publications?such as?the Wall Street Journal, Barron's, the Financial Times, the New York Times, and the Christian Science Monitor.

A frequent guest on television, he appears regularly on CNBC, Bloomberg, and FOX News, edits the Global Investor, an investment newsletter, and hosts a weekly radio program Wall Street Unspun. His economic and market commentaries are featured on many investment-oriented Web sites as well as on www.europac.net. CNBC's Squawk Box has nicknamed Schiff "Dr. Doom" for his uniquely bearish outlook on the U.S. economy and its financial markets.

JOHN DOWNES is coauthor of the bestselling Dictionary of Finance and Investment Terms, Barron's Finance and Investment Handbook, and Beating the Dow. He lives in Palisades New York.

Customer Reviews

Crash Proof How to Profit from the Coming Economic Collaspe
This is a tremendous book. You have to know how we've gotten here, to understand "why" we are now headed in the economic direction we are. For those who want to survive an economic meltdown, the phrase "When in Roman..." needs to be counterintuitive. This book clearly explains why and how to protect oneself. A key point is to see how what was predicted to happen in 2006 has "NOW" come to pass.

Wake Up Call for anyone in US and Canada !
This book is worth its weight in gold. The book is not a "user guide" of how many shares to buy from which company, or which commodity to buy and in what quantity. The author is not an oracle, is an outstanding economist which earns his living by helping his firm's clients profit from his knowledge, so don't expect that as a reader of this book you will become automatically Peter Schiff personal client or will be granted the benefits and opportunities provided by his firm.

This book offers you knowledge, understanding and a clear mindset. You have one part describing what's going on right now and why. Then you have a second part that guides you to what anyone should do to protect against the hyper-inflation caused by FED's irresponsible monetary policy while trying to protect the staggering US government overspending and bailout the financial institutions massive capital misallocation. The readjustment will be difficult in the coming years. I am not giving more details, the author already did it and he's far more eloquent that me.

I watched Peter Schiff standing tall during the past years in many financial business shows, giving honest opinions and making accurate predictions. It's amazing the adversity he went through from some economists or so called financial experts just because he had a different opinion. In the end all worked out to his benefit as his integrity was proven time and time again. I highly recommend this book and look forward to his next one.

A must read for all Americans ...
As a Roth IRA / 401K only investor, Crash proof has given me insight not only into how I should be investing for the long haul, but also how I should position growth paths in my career.

Everyone should read this book, to get a general understanding on how politics/economics are working behind the scenes. From looking at our gov't spending/taxing habits to foreign investment settlement ..the book paints alternative options to the only-domestic picture that alot of speakers on TV-based cable business shows pump up.

Negatives: A person reading this book, but never hearing Mr. Schiff speak ..will get a since he is pushing the services of his company.

Unless you can print your own US dollars ..read this book and related books on the state of the US and world economies going forward.