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Debt, Deficits, and the Demise of the American Economy

ISBN: 978-1-118-02151-4
207 pages
May 2011
Debt, Deficits, and the Demise of the American Economy (1118021517) cover image
What investors can do to protect their investments in the next phase of the ongoing global economic collapse

The United States is heading toward an unavoidable financial catastrophe that will paralyze the markets and the overall economy in ways never before seen. Some call this impending economic catastrophe a double-dip recession, others a financial Armageddon.

Regardless of what it's called, it is too late to stop it. Debts, Deficits, and the Demise of the American Economy is a look at how we got here, how the crisis is unfolding, and how it will end with a stock market crash in 2012, if not sooner.

  • Takes you through the unraveling of the collapse, starting with a wave of sovereign debt defaults in Europe
  • Predicts a stock market decline of two to three thousand points, a run on banks resulting in a major bank crisis, and rampant inflation
  • Provides investment strategies, including alternative investments such as timber, farm land, and oil
  • Offers a detailed proposal to get the United States out of the crisis

Debts, Deficits, and the Demise of the American Economy is a must-read, play-by-play account of the worldwide depression that is likely to unfold in the coming years.

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Foreword.

Introduction.

Chapter 1 It's the Deficit, Stupid.

Chapter 2 The Crisis Begins.

Chapter 3 The Miserable State of the States.

Chapter 4 Inflation, Through the Years.

Chapter 5 Europe on the Brink.

Chapter 6 The Crisis Hits the United States.

Chapter 7 The Way Back.

Chapter 8 Forging Ahead.

Chapter 9 Investing in a Time of Crisis.

Chapter 10 Gold Still Good.

Chapter 11 The World Still Runs on Oil.

Chapter 12 Understanding the Investment Risks We Face.

Conclusion We Have Been Here Before.

Notes.

Acknowledgments.

About the Authors.

Index.

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Peter Tanous is President of Lepercq Lynx Investment Advisory. Over the course of his forty years as a finance professional, he has served as executive vice president of Bank Audi (U.S.A.) in New York City, chairman of Petra Capital Corporation—an international investment bank that he cofounded—and first vice president and international regional director with Smith Barney. Mr. Tanous is the author of several critically acclaimed books, including Investment Gurus, which was chosen as a Main Selection of The Money Book Club, as was his subsequent book, The Wealth Equation.

Jeff Cox has been a journalist since 1987 and is a staff writer with CNBC.com where he covers all aspects of the markets, and appears on CNBC Television. He provides market commentary for radio stations across the country, and his articles frequently run on other CNBC syndication partners such as TheStreet.com, Yahoo!, and AOL Money. He also has worked at CNN Money and as a senior editor for two Pennsylvania newspapers. Cox's writing and editing projects have been honored on multiple occasions by the New Jersey Press Association and Pennsylvania Newspaper Association.

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April 28, 2011
Debt, Deficits, and the Demise of the American Economy

The US is heading toward an unavoidable financial catastrophe that will paralyze the markets and the overall economy. Some call this impending economic catastrophe a double-dip recession, others a financial Armageddon. Regardless of what it's called, it is too late to stop it.

Financial expert, Peter Tanous and CNBC journalist, Jeff Cox join forces in their new book, DEBTS, DEFICITS, AND THE DEMISE OF THE AMERICAN ECONOMY (Wiley; ISBN: 9781118021514; Hardcover; $27.95) to publish in May 2011.

The authors agree, “This book lands on the scene at the very moment when the events predicted in the book are about to explode on the world scene. Several sovereign nations in Europe are about to default on their debt, interest rates are creeping up and will soon soar, the debt crisis will come to a head in the U.S. as future treasury bond offerings run into resistance.”

A timely must-read for all, Tanous and Cox look at how the US landed in this black hole, how the crisis will continue to unfold, and how it will end with a stock market crash in 2012, if not sooner. Although Tanous and Cox do not predict the exact time, they do spell out the linear direction of this predictable crisis. Many continue to ask “What might happen if…?” and in their book, Tanous and Cox give solutions to the following problems:

  • A stock market decline of major proportion. 
  • Interest rates will spike as the Fed withdraws from the bond market. 
  • Inflation will be rampant as the United States resorts to printing money to pay debts
  • Gold and other commodities will soar

A nation that continues to accumulate debt will reach a level of total indebtedness where that nation's options become very limited, and also predictable. DEBTS, DEFICITS, AND THE DEMISE OF THE AMERICAN ECONOMY examines the worldwide crash that continues to unfold. A play-by-play account, the authors bring the readers into reality and give the resources they need to counter the effects of higher inflation.

According to Tanous and Cox, “Had it not been for years of low-interest-rates, easy-lending policies, and blissful ignorance of the vast bubble forming in real estate, we likely would not be in this predicament.” Federal policy makers baited the hook with low interest rates and easy access to credit and capital, and governments from Pennsylvania to California, from Michigan to Texas, bit and bit hard. Profligate spending on pork-barrel projects and the ever-swelling public payroll—all on the taxpayer dime and with the bills to be paid by generations to come—have played just as important a role in the current crisis as all of the shenanigans with Fannie Mae and Freddie Mac and mortgage-backed securities and the too-big-too-fail institutions that sapped the life from the U.S. economy.

In DEBTS, DEFICITS, AND THE DEMISE OF THE AMERICAN ECONOMY, Tanous and Cox:

  • Take readers through the unraveling of the collapse, starting with a wave of sovereign debt defaults in Europe
  • Advise alternate investment strategies, including Timber, Farmland, Oil, and Gold
  • Offer a detailed proposal to get the United States out of crisis
  • Guide readers in understanding investment risks

The mounting U.S. deficit is a major problem that will result in a major financial calamity soon.  How soon?  Who knows, but soon enough that Americans need to be prepared for it. The US economy is headed for a period of massive inflation. The only question is how bad will it get?

“The dire warnings from our government leaders about the out-of-control debt and deficits are not resonating with the American public.  At least not yet.  This book shows in a readable, logical way how the crisis will doom us if we let it.  In that sense, it has the capacity to be widely quoted by politicians on both sides of the aisle.  One great advantage of our book is that it is not a political polemic.  It doesn't ’take sides‘ in the debate but rather points out how the crisis will engulf us all.”- Author, Peter Tanous

A note from the authors, “If in the course of reading this book you are persuaded, as we are, that we are heading toward a financial calamity, you will want to prepare yourself financially to deal with the perils that lie ahead.” DEBTS, DEFICITS, AND THE DEMISE OF THE AMERICAN ECONOMY prepares readers for the future, now.

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