Summary of Crash Proof

Looking for the book?
We have the summary! Get the key insights in just 10 minutes.

Crash Proof book summary
Start getting smarter:
or see our plans

Rating

8 Overall

9 Applicability

7 Innovation

8 Style


Recommendation

Contrarian investor Peter D. Schiff isn’t just a bear. He’s a sky-is-falling, bury-the-Krugerrands-in-the-backyard bear. Writing with John Downes, Schiff argues that the U.S. economy is going to hell, and that clueless consumers, opportunistic Wall Streeters and pandering politicians are carrying the handbasket. Schiff’s screeching tone is a bit grating – until you realize that many of his predictions have proven accurate. That doesn’t mean you shouldn’t take him with a grain of salt, but this book was published in 2007, and in mid-2008, Schiff’s forecasts of a weakening dollar, rising gold prices, a bursting real-estate bubble and strong foreign stock markets were spot-on. His pessimistic polemic could use more practical advice and less macroeconomic analysis, but still getAbstract recommends it to those who seek an alternative viewpoint.

In this summary, you will learn

  • Why you should buy foreign stocks;
  • Why you should put your savings in non-U.S. currencies; and
  • Why gold will keep booming.
 

About the Authors

Peter D. Schiff is a veteran Wall Street forecaster and president of an investment company. A frequent guest on TV business shows, he is nicknamed “Dr. Doom” for his pessimistic forecasts. John Downes is the co-author of Beating the Dow and other business bestsellers.

 

Summary

The U.S. Economy: A Disaster in the Making
The American economy is on the brink of disastrous collapse. U.S. consumers refuse to save. And Wall Street doesn’t really want them to, since any dip in consumer confidence sends stock prices down. Meantime, the Federal Reserve inflates one bubble...

More on this topic

By the same authors

How an Economy Grows and Why It Crashes
How an Economy Grows and Why It Crashes
9
The Little Book of Bull Moves in Bear Markets
The Little Book of Bull Moves in Bear Markets
5

Customers who read this summary also read

The New Case for Gold
The New Case for Gold
7
Millionaire Teacher
Millionaire Teacher
8
This Time Is Different
This Time Is Different
8
The Crypto-Asset Bubble
The Crypto-Asset Bubble
8
The Rise and Fall of Nations
The Rise and Fall of Nations
7
Secrets of a Global Super Court
Secrets of a Global Super Court
9

Related Channels

Comment on this summary