The Inside Story
Empire of Debt: The Rise of an Epic Financial Crisis
by Michael Checkan
From Asset Strategies International: http://www.assetstrategies.com/pages/il/current.html#insideStory At the start of this fiscal year, which began on October 1, 2005, the U.S. government was $130 billion in debt. Compare that to the $115 billion it was down this time last year and the gloomy picture becomes increasingly clear: Washington's out-of-control spending has put us on a path towards the worst financial crisis in U.S. history. And as two internationally famous authors warn, this dangerous trend has dire consequences for every American. In the New York Times bestseller Empire of Debt: The Rise of an Epic Financial Crisis, co-authors Bill Bonner and Addison Wiggin paint a bleak picture of the American economy today: Americans keep going deeper and deeper into debt with no regard for the future. For example, 37% of American households do not have a retirement savings account of any kind. Meanwhile, the amount of household credit debt has soared from $6.1 trillion to $10.8 trillion in just five years. Named by the prestigious Economist Magazine as one of the top 2 books that will "tell you what's really going on," Empire of Debt comes at a critical time for the nation's economy: when Americans are searching for the answers to pervasive questions of the day: - Why is it so difficult to make money in the stock market?
- Why is public debt skyrocketing?
- Why do we keep involving ourselves in expensive wars overseas?
- Why is the real estate market so dangerously overvalued?
It is here where Bonner and Wiggin prove their worth, exposing the nation as an empire built on delusions and uncovering the whole secret story of how and why America has put itself into the worst financial crisis since 1929. More importantly, they show readers how to protect themselves and their assets from this crisis. This book does not spare the icons of either political party as it provides readers with the first in-depth look at how the American character has shifted to accommodate its new imperial role. Americans, assert Bonner and Wiggin, have abandoned the private virtues of personal liberty, economic freedom, and fiscal restraint. Meanwhile, the "guv'mint" has gained control of public life and the economy. The authors suggest a "great empire" is to the world of geopolitics what a great bubble is to the world of economics - attractive at first but will eventually end in catastrophe. Americans are rapidly facing a choice: recognize these dangerous delusions and take steps to avoid their collapse. Or remain ignorant of them and risk losing all of their wealth when the house of cards comes crashing down. To purchase Empire of Debt, look at the insert in this issue of Information Line or purchase on-line by following this link: Empire of Debt: The Rise of an Epic Financial Crisis | 
