Financial Sense Newshour with Jim Puplava

The Great Depression of Debt: Survival Techniques for Every Investor

Warren Brussee

Author

January 31, 2009

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In 2004, Warren Brussee wrote, "Come 2008, the number of people giving up on making house payments will skyrocket . . . banks will be forced to foreclose on homes and sell them, causing a glut of homes on the market and a deflation of home values. . . . You will be able to get a great deal on a used SUV, especially a Hummer!"

These are just some of the author's gloomy, but accurate predictions that have come to be part of today's economic reality. But, says Brussee, the worst is yet to come: the problems are so severe that it will take until 2013 before the economy bottoms out and begins to grow. In the meantime, the stock market will drop dramatically, unemployment will be over 15%, and our country will be humbled as it is forced to adapt to a far lower and simpler standard of living. In The Great Depression of Debt, Brussee offers a detailed economic analysis of the difficult years ahead, telling what to expect and how to survive the next great depression.

The author clearly lays out the circumstances that have led to this situation—the craziness in the nineties' stock market that encouraged people to stop saving and start speculating, consumers who began spending more than they could afford, as well as other factors—and outlines the similarities between current times and the years just prior to the First Great Depression. Brussee explains in detail what individuals must do to get through it: keep a job, limit debts and return to saving, and stay away from the stock market until it hits bottom. The author also reveals how the country will emerge from its economic troubles, telling how effective job creation in alternative energy, electric cars, and the required infrastructure will be key, along with training for related skills.

Past Interviews

The Second Great Depression: Started 2007/2008 Ending 2020 - 2nd Edition, June 7, 2008
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The Second Great Depression: Starting 2007, Ending 2020, March 18, 2006
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Contact Information

Warren Brussee | Author
Book Information | Website