The Great Depression Ahead: How to Prosper in the Crash Following the Greatest Boom in History
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The New York Times bestselling author of The Roaring 2000s guides listeners through the biggest economic crisis since the Great DepressionThe first and last economic depression that you will experience in your lifetime is just ahead. The years 2009 and 2010 will be the initial end of prosperity in almost every market, ushering in a downturn like most of us have not experienced before. Renowned economic forecaster Harry S. Dent, Jr. has developed analytical techniques that allow him to predict the impact of economic trends, including the following:• The economy appears to recover from the subprime crisis and minor recession by mid-to-late 2009 "the calm before the real storm."• Stock prices start to crash again between mid-to-late 2009 into late 2010, and likely finally bottom around mid 2012-between Dow 3,800 and 4,500.• The economy enters a deeper depression between mid 2010 and early 2011, likely extending off and on into late 2012 or mid 2013.• Asian markets may bottom by late 2010, along with health care, and be the first great buy opportunities in stocks.• The next broad-based global bull market from 2020-2023 into 2035-2036.Conventional investment wisdom will no longer apply, and investors must drastically reevaluate their policies in order to survive. Dent offers long and short-term recommendations that will allow families, businesses, investors, and individuals to manage their assets correctly and come out on top rather than get caught in a downward spiral. Publishers Weekly Dent, former strategic consultant at Bain & Company, outlines the features of what he predicts will be the next Great Depression. The author argues that "demographic trends were the greatest drivers of our economy, along with radical new technologies," working together to follow "a four-stage life cycle of innovation, growth, shakeout, and maturity." While Dent's doomsday predictions are depressing, his theories are persuasive and elaborated in meticulous descriptions of historic economic trends and cycles. The author's candor is refreshing, especially when he discusses how equity investments "experience a wide variety of returns, including substantial losses or extraordinary gains"-and that the financial press has failed to remind the public of this fact. The book offers welcome portfolio allocation strategies during an economic crisis, as well as the bad news that the worst of the housing downturn "will occur between 2010 and 2013." Along with domestic forecasts, Dent addresses terrorism's economic roots and the growth of megacities in South and East Asia with characteristic thoroughness. (Jan.)Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
AcknowledgmentsPrologue: Simple Principles Drive Complex Change Chapter 1. The Great Crash of Late 2009-2010...and the Next Great Depression to FollowChapter 2. The Fundamental Trends That Drive Our Economy: Demographic and Technology Cycles Chapter 3. New Geopolitical, Commodity, and Recurring Cycles: With Likely Stock and Economic Scenarios for Years and Decades Ahead Chapter 4. The Greatest Bubble Ever in Real Estate: The Demographics of Real Estate, the Greater Credit Crisis, and the Likely Depression Scenario Ahead Chapter 5. Echo Boomers Continue to Move to the Southeast, Southwest, and Rockies: Opportunities for Businesses, Developers, and Municipalities in the Downturn Chapter 6. Changing Global Demographic Trends: The Rising East and Emerging World Versus the Succession of Aging Western Nations Chapter 7. The Clustering of Risks and Returns: Why Traditional Asset Allocation Strategies Will Fail Miserably in the Decade AheadChapter 8. Investment, Business, and Life Strategies for the Great Winter: How to Profit in a Deflationary Economy Chapter 9. The Political and Social Impacts of the Next Great Depression: The Coming Revolution and "New Deal" in the United States and Globally Index
