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Title: Bankruptcy 1995: The Coming Collapse of America and How to Stop It by Harry E., Jr. Figgie, Gerald J. Swanson, Warren B. Rudman ISBN: 0-316-28206-5 Publisher: Little Brown & Co (Pap) Pub. Date: September, 1993 Format: Paperback Volumes: 1 List Price(USD): $11.95 |
Average Customer Rating: 2.5 (4 reviews)
Rating: 1
Summary: Bad math
Comment: This book scared alot of people when it first came out. And it still scares people. I remember laughing when I read this book a few years ago because the author, Figgie, uses math as bad as that used by the federal govt. to reach his conclusions. Can the U.S. go bankrupt? Sure, but if the govt. can balance the budget, including off-budget items, the economy can grow past this debt and eventually eliminate it.
The first reason why we haven't reached a position of "Bankruptcy 1995" is because of the Republican Congress that came in and made the hard choices to balance the budget and revive a sagging economy that was suffering under the control of the Clinton administration and his left-wing mob in Congress.
The second reason is because Figgie was basing his numbers on how he thought revenues and expenses should be calculated, not how the govt. actually does it.
Figgie is right that at some point we must stop bleeding red ink or we'll be faced with an massive economic disaster. On the other hand, Figgie used bad math and hysteria to sell his book, not taking into consideration the various options of how the govt. can get out of this situation. This book only gives you half the story, and as such, I can not recommend this book.
Rating: 4
Summary: is coming true late (due to clinton administration)
Comment: I read this in hardcover when it was first published and it was very interesting and seemed credible. It did not come true in 1995 as predicted. However, in June, 2002 so much of that book has come true it is frightening.
In retrospect, legislation proposed by Clinton/his administration (and then enacted) postponed the predictions in this book. Just in recent months (Spring, 2002) this book has proven itself. Unfortunately, more of its predictions may come to pass.
Easy to read, but very disconcerting because of the negative impact on this country. Services will decline due to economics is just one prediction. Yesterday's news announced "budget cuts" in Tulsa schools including more pupils per classroom and school beginning later in the calendar year, elimination/reduction in programs,etc. Roads not being repaired and then falling apart has already occurred in OK due to "lack of funds". Hopefully, not all the predictions in this book will come true.
Rating: 4
Summary: Still Relevent for Today
Comment: In this current bubble of false prosperity people are choosing to criticize Harry Figgie rather than examine the evidence he presented. Congress hasn't changed with the Republicans; they are still spending beyond the money taken in. The national debt is still growing and we are still headed for a financial disaster. In the Great Depression the Government bailed out the people with funny money. When the Government goes broke, who will bail them out?
Those who consider it all hype just because it didn't happen on Harry Figgie's timetable are only deluding themselves.
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Title: The Coming Crash in the Housing Market : 10 Things You Can Do Now to Protect Your Most Valuable Investment by John R. Talbott ISBN: 007142220X Publisher: McGraw-Hill Trade Pub. Date: 28 April, 2003 List Price(USD): $14.95 |
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Title: The Dollar Crisis: Causes, Consequences, Cures by Richard Duncan ISBN: 0470821027 Publisher: John Wiley & Sons Pub. Date: 25 July, 2003 List Price(USD): $29.95 |
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Title: The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Thomas J. Stanley, William D. Danko ISBN: 0671015206 Publisher: Pocket Books Pub. Date: October, 1998 List Price(USD): $14.95 |
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Title: Financial Reckoning Day: Surviving the Soft Depression of the 21st Century by William Bonner, Addison Wiggin ISBN: 0471449733 Publisher: John Wiley & Sons Pub. Date: 12 September, 2003 List Price(USD): $27.95 |
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Title: The Automatic Millionaire : A Powerful One-Step Plan to Live and Finish Rich by David Bach ISBN: 0767914104 Publisher: Broadway Pub. Date: 30 December, 2003 List Price(USD): $19.95 |
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