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Peter Schiff offers a detailed and devastating criticism of the Fed and the federal government. He makes a compelling argument that the federal government has expanded far beyond the Constitutional limits. He also makes a convincing case that the fiscal path our country is on is unsustainable and may lead to a financial crash more devastating than 2008.
Schiff also lays out an alternative path for the country; a path in which a far smaller federal government stays out of our lives, and where individuals have the freedom to lead their own lives and to take responsibility for their future. The responsibility for taking care of the poor and infirm is returned, as it had existed for centuries, to local governments and churches and charitable institutions. As Schiff points out, this alternative vision for America is not new; it is what the country was before the Fed, the New Deal, and the ever increasing expansion of the federal government.
Schiff also offers compromise proposals, which he deems more politically achievable. The alternative vision would, in general, decrease the size of the federal government and gradually phase out government transfer programs, using means testing as an interim measure.
Essentially, Schiff presents a Libertarian view of what the country should be. Libertarian philosophy generally offends Democrats (because it would shrink the federal government substantially) and certain elements of the Republican Party (less government interference means legalizing drugs and a less aggressive military). However, it has the virtue of at least being consistent (less government in every aspect of our lives) while the current parties each support an expanding federal government (and greater intrusion) one way or the other.
Schiff's book lays out the Libertarian case in detail. The book is important because many people really do not understand Libertarian philosophy, although many clearly agree with at least substantial parts of it.
One cautionary note: The book does NOT lay out in any detail how to invest for or protect yourself from the crash Schiff is certain is coming. He summarizes his views in one chapter. Those looking for investment advice should read Schiff's other books. The title is misleading in this respect.
28 of 30 people found this review helpful
I usually prefer audible books but the narrator in this one was really bad. He was too dramatic and did not have tone that was easy to listen to. This is a very serious book; he made it sound like a comedy. Sure, the writer has some comic relief written in, but the narrator attempts to add to it with his tone and it's an epic fail.
I think the publisher should have the book re-recorded.
It has EXCELLENT content, we shouldn't be robbed of the priviledge of hearing that content read well.
16 of 18 people found this review helpful
Peter Schiff gives a clear concise explanation of the period we are entering, one of the only people to have the credibility to write such a book given his previous precise predictions that turned out to be correct.
1 of 1 people found this review helpful
What did you like most about The Real Crash?
The explanation of the systemic issues with in the economic system. I found this book refreshing and detailed. Key explanations of what Peter thinks will cause the next recession and how it will play out. Time will show if he's right.
How would you have changed the story to make it more enjoyable?
Did Oliver Wyman do a good job differentiating each of the characters? How?
didn't notice a difference.
Did you have an emotional reaction to this book? Did it make you laugh or cry?
This made me excited.
Any additional comments?
Peters books give a break down of the systemic issues in the world economy and how he feels it can be resolved. I dis agree with him on how it can be resolved, however agree with the issues he's identified and the measure you can take to protect yourself.