Financial Reckoning Day

Surviving the Soft Depression of the 21st Century

by William Bonner and Addison Wiggin

John Wiley & Sons, Inc., 2003

ISBN: 9780471449737
Pages: 306

Category: Economics & Politics

In this summary you will learn

• why the authors predict a bleak decade for the U.S. economy

Why you should read Financial Reckoning Day

This book is an intellectual tour de force. The breadth of the authors’ accomplishment is impressive, drawing on sources from Emerson to Einstein to Freud to Adam Smith and more. Whether their analysis is correct, however, is highly debatable. One could build a small mountain out of books that have declared prematurely that the American economic miracle is over. This volume draws heavily on the Japanese model to predict continued economic doldrums in the U.S., and the comparison seems a poor fit. Its over-reliance on a continental historical perspective - Americans are naïve, overly optimistic fools whose prosperity is the result of dumb luck - seems fairly dubious. None of that takes away from the authors’ keen perspective. Right or wrong, they bring intellectual light to the question, ’Just what is going on with the American economy?’ Because of this volume’s range and insight, getAbstract.com very strongly recommends it, especially to those seeking historical and cross-cultural context for alternative views about the U.S. economy.

About the Authors

As president and CEO of Agora Publisher, William Bonner leads one of the U.S.’s largest financial newsletter companies. Bonner founded the Daily Reckoning, a contrarian financial newsletter distributed via e-mail. Addison Wiggin is the Managing Editor of the Daily Reckoning and a former employee of the Cato Institute.

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