First published 2022
Rising prices at gas stations and grocery stores signal a deeper economic crisis that threatens America's financial future. Former Reagan administration budget director David Stockman exposes how inflation creates massive wealth transfers from ordinary Americans to the wealthy elite. Workers, savers, retirees, and small business owners bear the cost while asset holders collect windfall profits. Stockman argues that surging asset prices pose greater dangers than consumer price increases. He reveals how stock market manipulation and extremely low interest rates distort the entire economy. Real estate no longer provides reliable protection against inflation. The author draws on his experience directing the Office of Management and Budget during the Reagan years and his subsequent career managing investments on Wall Street. He presents a four step strategy to shield savings and investment portfolios from economic turbulence. The book covers manipulation tactics in financial markets and explains why cheap debt creates systemic risks throughout the economy.
Genres: business, economics, non-fiction, finance
Vibes: intimate, suspenseful, thought-provoking
Tropes: investigative-journalism
Setting: America
Period: Reagan Administration
235 pages · Kindle Edition · Humanix Books