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Recommendation
Addison Wiggin is a modern Jeremiah, warning that the U. S. economic sky is falling. Apparently the market for bad news is thriving. His Daily Reckoning newsletter boasts half a million subscribers and his prior work, Financial Reckoning Day, was an international bestseller. Although one might quibble with the repetitious, even querulous tone of his narrative - okay, we’ve got it already, the U.S. economy’s a mess - it’s pretty tough to dispute Wiggin’s facts. The double-whammy of huge trade deficits combined with a colossal budget deficit has put the U.S. economy on such perilous footing that only a series of Federal Reserve Board-engineered investment bubbles, combined with runaway consumer spending, has kept it from falling like a muffed soufflé. The only flaw in his logic is history itself. Someone apparently forgot to inform the Americans that their economy is supposed to be failing. Their "naïve" energy, ambition and optimism continue unabated. getAbstract.com strongly recommends this gothic economic treatise, if only because history also suggests that even a great party can’t last forever.
Take-Aways
About the Author
Addison Wiggin is the publisher of the Daily Reckoning newsletter, published in the U.S. and Great Britain. The co-author of Financial Reckoning Day, he is a frequent guest on radio and television programs.
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