The Dollar Crisis: Causes, Consequences, Cures , Revised and Updated | 
| Author: Richard Duncan
Publisher: Wiley
Category: Book
List Price: $19.95
Buy New: $11.11
You Save: $8.84 (44%)
New (26) Used (17) from $8.99
Avg. Customer Rating:  66 reviews
Sales Rank: 8195
Media: Paperback
Edition: Rev Upd
Number Of Items: 1
Pages: 324
Shipping Weight (lbs): 0.9
Dimensions (in): 8.9 x 5.9 x 1
ISBN: 0470821701
Dewey Decimal Number: 338.542
EAN: 9780470821701
ASIN: 0470821701
Publication Date: June 22, 2005
Availability: Usually ships in 1-2 business days
Shipping: International shipping available
Condition: BRAND NEW
|
| Also Available In:
|
| Similar Items:
|
| Editorial Reviews:
Product Description
In this updated, second edition of the highly acclaimed international best seller, The Dollar Crisis: Causes, Consequences, Cures, Richard Duncan describes the flaws in the international monetary system that have destabilized the global economy and that may soon culminate in a deflation-induced worldwide economic slump.
The Dollar Crisis is divided into five parts:
Part One describes how the US trade deficits, which now exceed US$1 million a minute, have destabilized the global economy by creating a worldwide credit bubble.
Part Two explains why these giant deficits cannot persist and why a US recession and a collapse in the value of the Dollar are unavoidable.
Part Three analyzes the extraordinarily harmful impact that the US recession and the collapse of the Dollar will have on the rest of the world.
Part Four offers original recommendations that, if implemented, would help mitigate the damage of the coming worldwide downturn and put in place the foundations for balanced and sustainable economic growth in the decades ahead.
Part Five, which has been newly added to the second edition, describes the extraordinary evolution of this crisis since the first edition was completed in September 2002. It also considers how the Dollar Crisis is likely to unfold over the years immediately ahead, the likely policy response to the crisis, and why that response cannot succeed.
The Dollar Standard is inherently flawed and increasingly unstable. Its collapse will be the most important economic event of the 21st Century.
|
| Customer Reviews: Read 61 more reviews...
Consequences June 20, 2008
0 out of 2 found this review helpful
This is a great book. This is not light reading. But in regards to the review of this book, I guess it depends on the age of the reader. I am 100% sure no one under the age of 28 have ever read the book or would care to read it. But I am old enough to know that when I was born there were only 150 million Americans, gas was .25 cents per gallon and the coins in my pocket were 90% silver. My first job paid $1.53 per hour and I can remember going into a country store and telling Mr. Childers "I want .25 cents worth of balogna, cheese and crackers" and I would get stuffed. Mr Duncans Cures? Maybe so, but I believe we will fix nothing and our money is now a joke. Regards, Keith Renick, Peachtree City, Ga.
 The Dollar Crisis March 3, 2008
0 out of 1 found this review helpful
A very good and readable presentation of the global economy and how the profligate spending and massive debt accumulation of the United States will bring about severe ramifications not seen since the great depression.
Drivers of the Global Economy January 2, 2008
3 out of 3 found this review helpful
Best I've read (and re-read) that gives a semi-informed layman an understanding of the dynamics of the global economy. In light of the current global credit crisis, the deflation of the US property bubble, the downturn in US consumer spending and sentiment and the likelihood of the a US recession, this book is amazingly prescient.
The recommended solutions to the credit and currency crises won't happen due to the self-interested nature of national politics, which suggests there is no positive outcome to this.
Are you brave enough to read this book November 24, 2007
3 out of 3 found this review helpful
I never studied Economics at college so this book became my 101 and explained in depth why foreign countries, until recently, kept buying our US Treasury Notes even though they knew we were trillions of dollars in debt. Intuitively I suspected the current bull market was on borrowed time but this book spells out in detail how our current relative affluence is about to end and nothing can stop this train wreck from happening. This train wreck is not just the end of the latest bull market but the beginning of a severe recession and depression. Richard Duncan brings together the separate catastrophes of Peak Oil, Global Warming, the Collapsing Dollar and the Loss of its Reserve Currency Status and, the Lack of American Savings to clearly explain why the good times are about over. So be warned that this book is not a comfortable read. If like me you are wanting to absorb the message quickly, rather than try to nit pick his findings, then I would fault his over-use of charts and data tables. I started skipping them after I realized they were extra detail and not essential to the theme of the book.
Richard Duncan goes to lengths to explain how we are part of a global economy and gives a plausible reason why the only way out of the coming depression, which mainly is the result of severe trade imbalances between the US/Europe and ASEAN countries, is for these third world exporting countries to raise their living standards. This will likely mean an internationally agreed minimum wage for all forms of labor. Only by using a flat playing field can free trade occur as it is intended to.
Other informative books to read in this gendre are "Crash Proof" by Peter Schiff (Dr Doom)Crash Proof: How to Profit From the Coming Economic Collapse (Lynn Sonberg Books)
and
The Coming Economic Collapse: How You Can Thrive When Oil Costs $200 a Barrel by Dr. Stephen Leeb.
Having read these and other publications I am now cashing in all my diversified US Dollar denominated investments held by a major Wall Street investment house, in order to buy quality foreign stocks and bonds directly from foreign stock exchanges using their own strong currencies. There are ways explained in this book on how to mitigate the coming extreme pain but we will all suffer a diminished life style.
Solid July 30, 2007
5 out of 5 found this review helpful
"Politics is the ability to foretell what is going to happen tomorrow, next week, next month and next year. And to have the ability afterwards to explain why it didn't happen. " (C) Winston Churchill
According to this definition, Mr. Duncan is a good politician and he probably should run for office.
This is a second edition of the book. First edition was written sometime around 2001-2002 and was predicting imminent collapse of the dollar and post-dot-com-bust recession turning into major depression.
As we all know, that didn't happen. Instead of going into the ground, U.S. economy started a gradual trek upwards, partly due to real estate boom brought about by low interest rates, partly due to ingenious fiscal and monetary policy of Washington DC and support from national banks of China and Japan.
By 2005, Mr. Duncan felt compelled to write a new edition of his book, this time adding passages about real estate bubble and a whole new section describing developments since 2002 - in essence, explaining why predictions of 1st edition haven't come true yet.
Jokes aside, this is a solid book and it's highly recommended to any serious reader. A warning, though - it's not a popular book, and it's not meant for light reading - it leans towards scientific style, so it may seem dry and hard to read, especially to someone without basic knowledge of macroeconomics.
|
|
|
