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Here's the key takeaway from this book: 60% of Americans add debt every month in order to get buy. These people are losing their ability to continue purchasing, which means that consumption (the main driver of our economy) is getting close to a point of collapse. If you look at stock prices, you would think that America is doing great. But that's because 54% of corporate profits go towards buying back stock to push up the price. Another big chunk goes to dividends. Neither of those two things makes a company stronger. Only investing in R&D, employees, and capital expenditures make a company stronger.
The next big crash is going to be the biggest we have ever seen and there will be little the government can do to save us. During the last crash, the government propped up the stock market with $2.4 trillion dollars in quantitative easing. That's like taking a shot of whiskey to cure your hangover. It works, but only in the short-term, and it only makes the eventual headache much worse. This book is a wake-up call for American capitalism.
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What was the most compelling aspect of this narrative?
It's easy to identify problems in society, but it's a lot harder to propose a solution. It's even harder to propose a solution in a way that includes realistic steps that can be taken, deep strategies that will actually lead to results, with a path that has clarity and simplicity. This book accomplishes that. It's refreshing and inspiring as it gives hope for the future in relationship to a problem that seems overwhelmingly complex.