The Global Debt Trap: How to Escape the Danger and Build a Fortune Hardcover - 2010 - 1st Edition

From the jacket flap

After the bursting of the real estate bubble, the United States plowed ahead with a monetary and fiscal policy that is, at best, a powerful drug to postpone an inevitable day of financial reckoning; and at worst, a deadly pill that creates a far deeper political and social disaster. What many world leaders are saying in private--but none admit in public--is that it was precisely that kind of policy and government interference in the market economy that caused the real estate bubble in the first place . . . and continues to drive the global economy from one bubble-and-bust cycle to the next. In The Global Debt Trap, Claus Vogt and Roland Leuschel show how we arrived at this unfortunate predicament, how our leaders have failed us, and how they are likely to continue to do so. They advocate the freedom of the individual and the capitalist economic system derived from it--and show how to prepare for the aftermath of years of government interference in the market economy.

In their 2004 German bestseller, Das Greenspan Dossier, the authors exposed, in great detail, how the monetary policies pursued by the former Fed chairman created an unprecedented real estate bubble. They showed how the bubble would inevitably collapse. And they predicted how that collapse would lead to a series of financial disasters of unthinkable dimensions. Now, they explain how the "cure" for the 2008 debt crisis that major sovereign governments have pursued--massive bailouts--will prove to be far worse than the disease. They explain how it has led to a new crisis, this time in the debts of the sovereign governments themselves.

Most importantly, they tell investors precisely what they must do to protect themselves and how they can turn the next, most shocking phase of this crisis into a major wealth-building opportunity.