The Great Crash Ahead
- Strategies for a World Turned Upside Down
- Narrated by: Harry S. Dent
- Length: 12 hrs and 59 mins
- Unabridged Audiobook
- Release date: 09-20-11
- Language: English
- Publisher: Simon & Schuster Audio
Regular price: $27.99
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In his most recent New York Times best-selling work, The Great Depression Ahead, Harry S. Dent predicted the debt crisis that would ensue in the wake of the government’s failed stimulus plan. In addition to offering prescriptions for the current crisis, in The Great Deflation Ahead Dent scrutinizes some of the most dearly held assumptions of economic theory and practice and offers prescriptions for the current crisis. With incisive critical analysis and historical examples, Dent lays bare how such constructs - for instance, the belief in a rational market or of the rational consumer - led to the formation of the great bubble that burst so spectacularly in the crash of 2008.
Dent’s investment advice sees no place to hide in what he calls this wintry economic season, but it’s not all doom and gloom; the only way out is preserving your capital and creating cash flow - avoiding the sort of high risk, high profit investment schemes that sunk the world economy - so that you can profit from “the greatest sale on financial assets of a lifetime.” The Great Deflation Ahead is a level headed, thoroughly reasoned message to show listeners how they can survive during this challenging period so that they can thrive when the economy slowly returns to normal.
Customer ReviewsMost Helpful
By Dan on 04-01-12
Blinding Glimpse of the Obvious ("BGO")
Like Reinhart and Rogoff's best seller, "This Time is different," the author and narrator, Harry S, Dent, makes constant reference to charts and graphs. Audiobook listeners, in the main, purchase the format because they do not wish to read text or study graphics. Rather, audiophiles wish to consume content in a mode that allows for other contemporaneous activity like walking, driving, etc.
The foregoing aside, this just isn't a very informative book and it falls woefully short of preparing the listener for the difficult times ahead. Hello: Who doesn't know that globe is awash in debt and low birth rates will make any recovery quite painful? Sadly, for Mr. Dent, he makes some intermediate term predictions on fixed income investing that are already incorrect as of this writing. Lucky for current hedge fund king, Ray Dalio of Bridgewater, that he understands fixed income investing and that enabled him to earn $4 billion in 2011.
After recovering from my disillusionment with this cherry-picked data packaged into a book, I researched Mr. Dent's record and came across these winners in Dan Dorfman's column in the Huffington Post on August 10, 2010:
Citation 1: "In fact, for all of 2011, he believes we could see an astounding 10% retreat in the GDP, which sharply contrasts with consensus expectations of GDP growth for the year of a shade over 3%. Further, he sees the economic weakness spilling over into 2012."
Citation 2: "Before dashing for the hills, it should be duly noted that Dent, like many of his investment brethren, has had his fair share of forecasting blunders. One of his more memorable goofs was his 2006 forecast that the Dow would hit 40,000 in 2009."
Perhaps most offensive is Mr. Dent's shameless promotion of his other commercial endeavors. And finally, Mr. Dent, who claims to make no political judgments, loses all credibility when he meanders into environmental stances, invokes Thomas Friedman's twaddle and pounds the table for a restoration of the US personal income tax rates under President Clinton.
Had I known what I know now, I would not have wasted either my time or my money. Clearly, Mr. Dent is operating on the broken clock theory and that he will be right on some things in the fullness of time. Yet, being too early is the same as being wrong in investing.
2 of 2 people found this review helpful
By Da Crusher on 10-15-11
Very interesting insight and analysis by Dent
Only time will tell how correct the information inside this audiobook are, as nature has always have ways of correcting itself. Although, having an insight on the great crash ahead would prepare you better for the worst case situations in this economic times. The collected data and analysis was done very interestingly and the audio was very persuasive of the subject. The only drawback to this audiobook is referencing to charts which are not available with the audiobook version.
2 of 2 people found this review helpful