How an Economy Grows and Why it Crashes by Peter Schiff

[Dennis Ng]

I'm now reading a book by the title:"How an Economy Grows and Why It Crashes"

For the first time, this is a book that simply explains how Economics really works and what are the causes of the Global Financial Crisis (started by U.S.) and what are the things required to be done....

It is a page turner. I just could not put down the book after picking it up, and as I read on, I'm worried that this so-called recovery that U.S. is experiencing by the U.S. government borrowing more money, getting deeper in debt to solve the Global Financial Crisis caused by too much borrowing is likely to end with another Crash again....


First, who is Peter Schiff: http://en.wikipedia.org/wiki/Peter_Schiff

He is one of the few who warned about a possible Global Financial Crisis before it happened in year 2008...

Here's an interview on this book with Peter Schiff (author):

http://www.youtube.com/watch?v=PzC4L-EmgO4

Reading the book might give you the chill that I experience, as I also find it is ridiculous for U.S. (including the world) to actually think that the solution to a Debt Crisis that exploded in year 2008 is to even MORE Debt and to borrow more.

[Stradlinz]

Reading the book might give you the chill that I experience, as I also find it is ridiculous for U.S. (including the world) to actually think that the solution to a Debt Crisis that exploded in year 2008 is to even MORE Debt and to borrow more.

This is what Jim Rogers keeps on saying also for the past 1-2 yrs in CNBC. He also said he could not understand why would people want to lend almost bankrupt US govt for 30 yrs charging them 3-4% interest (US Treasuries). So in the end it will just "postpone" the problems and make it worse when the next crisis strikes.