A look at lessons of the past that could help secure profits in an uncertain economic future. In this era of unprecedented economic disruption, author Dan Shaffer warns investors and traders to be skeptical of the day-to-day pronouncements of the media and financial pundits, and instead look to the lessons of history and long-term economic cycles to inform their financial decisions. To successfully navigate today's economic storms, he asserts, investors need to break free of crowd psychology and think for themselves. Shaffer believes that the study of past financial crises provides the surest guide to assessing the current environment, and with this reliable resource he shows you exactly how to make the most of your time in today's markets with this effective approach. This title offers timely advice on surviving depressions, deflation, hyperinflation, and market bubbles. It compares our current economic and political situation with past financial crises and the rise and fall of other civilizations. By understanding the 'big picture,' and refusing to be manipulated, you can better protect your assets and move in and out of trends to make big profits. This book will show you what it takes to make these moves, and excel in today's uncertain economic environment.
Preface
Acknowledgments
Chapter 1 The Current Economic Storm 1
Is it Deflation or Depression? 2
The Government Cannot Save this Sinking Ship 4
Protecting What You Have 7
Profiting from the Coming Deflationary Depression 8
Preparing for the Next Hyperinflation Cycle 10
Summary 10
Part One Human Nature in Economic Storms
Chapter 2 Battling Your Natural Instincts 15
The Hopeful Investor 16
The Fearful Investor 18
The Herd or Crowd Effect 19
Believing in Others 23
Summary 25
Chapter 3 Getting What You Want Out of Life and Investing 27
Winning with the Hand You're Dealt 29
Gaining the Investment Edge through the Powers Within 31
Part Two Deciphering the Financial System
Chapter 4 Do Economic Releases Tell the Whole Truth? 37
The Ripples from a Drop of Data 38
What Revised Releases Tell Us 40
Putting the Numbers in Perspective 42
Don't Believe Everything You Hear, Read, or See 44
Chapter 5 Accounting Irregularities and Financial Statement Shenanigans 47
Cash versus Accrual Accounting 48
A Problem with Training and Resources 49