The Real Crash by Peter D. Schiff


6 Critic Reviews

Readers enamored of apocalyptic prophecies will find his views congenial; skeptics may find food for thought if not for panic.
-Publishers Weekly


You might be thinking everything's okay: the stock market is on the rise, jobs are growing, the worst of it is over.

You'd be wrong.

In The Real Crash, New York Times bestselling author Peter D. Schiff argues that America is enjoying a government-inflated bubble, one that reality will explode . . . with disastrous consequences for the economy and for each of us. Schiff demonstrates how the infusion of billions of dollars of stimulus money has only dug a deeper hole: the United States government simply spends too much and does not collect enough money to pay its debts, and in the end, Americans from all walks of life will face a crushing consequence.

We're in hock to China, we can't afford the homes we own, and the entire premise of our currency—backed by the full faith and credit of the United States—is false. Our system is broken, Schiff says, and there are only two paths forward. The one we're on now leads to a currency and sovereign debt crisis that will utterly destroy our economy and impoverish the vast majority of our citizens.

However, if we change course, the road ahead will be a bit rockier at first, but the final destination will be far more appealing. If we want to avoid complete collapse, we must drastically reduce government spending—eliminate entire agencies, end costly foreign military escapades and focus only on national defense—and stop student loan or mortgage interest deductions, as well as drug wars and bank-and-business bailouts. We must also do what no politician or pundit has proposed: America should declare bankruptcy, restructure its debts, and reform our system from the ground up.
Persuasively argued and provocative, The Real Crash explains how we got into this mess, how we might get out of it, and what happens if we don't. And, with wisdom born from having predicted the Crash of 2008, Peter Schiff explains how to protect yourself, your family, your money, and your country against what he predicts.


About Peter D. Schiff

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Peter D. Schiff is a seasoned Wall Street prognosticator best known for his accurate predictions of the performance of the stock market, commodities, gold, and the dollar. He is one of the few unbiased investment advisors to have predicted the current bear market and positioned his clients accordingly. Schiff began his career at Shearson Lehman and joined Euro Pacific Capital in 1996, becoming President of the firm in 2000. He appears frequently on Fox Business News, CNN, CNBC, and Bloomberg TV, and has been quoted in such publications as the Wall Street Journal, Barron's, the Financial Times, and the New York Times. Schiff is also the author of the original edition of Crash Proof as well as The Little Book of Bull Moves in Bear Markets, both published by Wiley.John Downes is coauthor of the bestselling Dictionary of Finance and Investment Terms, Barron's Finance and Investment Handbook, and Beating the Dow. He lives in Poughquag, New York.
Published April 8, 2014 by St. Martin's Press. 463 pages
Genres: Business & Economics, Political & Social Sciences, Travel. Non-fiction
Bestseller Status:
Peak Rank on Jun 10 2012
Weeks as Bestseller
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Critic reviews for The Real Crash
All: 6 | Positive: 5 | Negative: 1


Below average
Apr 15 2012

The inclusion of contact information for Schiff’s various investment companies highlights the element of self-promotion for both his businesses and the political approach he advocates.

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Publishers Weekly

Mar 19 2012

Readers enamored of apocalyptic prophecies will find his views congenial; skeptics may find food for thought if not for panic.

Read Full Review of The Real Crash | See more reviews from Publishers Weekly

Financial Times

Reviewed by Daniel Ben-Ami on Jun 29 2012

In it Peter Schiff, an investment and economic commentator, makes a strong case that the real economic turmoil is yet to come.

Read Full Review of The Real Crash | See more reviews from Financial Times

Booklist Online

Reviewed by Sue-Ellen Beauregard

Listeners interested in Schiff’s theories and experiences will find much to ponder in this competently narrated account.

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Seattle PI

Reviewed by Dr. Joseph Maresca on Jun 22 2012

The Real Crash by Peter Schiff has value in beginning a very necessary conversation on ways to balance the budget deficits...

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The New American

Reviewed by Thomas Eddlem on May 28 2012

The Real Crash is a treasure trove of economic wisdom and policy proposals that will — unfortunately — not be followed by policy makers in Washington...

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Srinivas Silpi Thota

Srinivas Silpi Thota 5 Sep 2013

Added the book to want to read list