The Great Crash Ahead

February 15, 2012

In The Great Depression Ahead, Dent warned that the U.S. government stimulus plan enacted to respond to the first financial crisis would fail. In this extensively researched work, Dent and fellow economist Johnson use historical examples, demographic data, and their own expert analysis to show another crash and crisis cycle coming between 2012 and 2014. The authors believe a government cannot drive economy--consumers and businesses do--and that massive change is required to shore up the economy. Strategies for private investors, the banking industry, and the government also are given. VERDICT Dent is a solid narrator, reading the work in a conversational tone and at a perfect pace. Even those who don't agree with this cautionary tale of deflation have much to learn here. [The Free Press pb will publish in September 2012.--Ed.]--Beth Farrell, Cleveland State Univ. Law Lib.

Copyright 2012 Library Journal, LLC Used with permission.

September 26, 2011
With little attempt to soften the blow, Dent (The Great Depression Ahead) and Johnson use demographics to predict that the Dow Jones Industrial Average will drop to approximately 3,000 between late 2012 and late 2014, while house prices will fall between 55% and 65% before the crisis ends. At the end of their spending lifecycle, aging Baby Boomers are avoiding conspicuous consumption and heavy credit card debt, and saving for retirement, rather than investing in college educations, or making large real estate purchases. By the time readers absorb the theory of seasons of inflation over an 80-year cycle, problems with the Fed, and unfunded liabilities in all strata of government, they may feel that the best place for their money is in a sock under the mattress. However, Dent and Johnson offer suggestions for surviving the next decade, as well as a few simple (perhaps obvious) ideas to solve national problems, including Social Security and the mortgage crisis.