Financial Reckoning Day: Memes, Manias, Booms & Busts ... Investing in the 21st Century - Hardcover

by Addison Wiggin (Author), William Bonner (Author)

An engaging and practical romp through contemporary financial and economic history--and what it means for your financial future

Economic booms and busts are happening with more frequency. Since the turn of the new millennium, fortunes have been made and lost at a blistering pace. Each boom is like the tension building up before an earthquake. Seismologists can detect the build-up, but they can't necessarily explain why--or when--the next quake will hit. Economic busts can be equally devastating...and followed by numerous aftershocks.

In this entertaining romp through recent economic and financial history, best-selling author, Addison Wiggin, traces the primary trends that have led up to rapid economic growth and innovation while keeping an eye on the inevitable downturn. The author practices "literary economics," telling stories about the characters behind the scenes and their motives, making this wide-ranging book easy-to-read. The current edition has been revised, adapted, and re-imagined, enlightening readers about what's happening behind today's top headlines:

• The rise of new financial innovations over the past decade, including cryptocurrencies, mobile trading platforms, and the democratization of financial markets
• How the policies of the Federal Reserve following the Panic of '08 led an entire generation to become unwitting speculators in stocks, bonds, real estate, and rare commodities
• What impact new political trends--environmental, social, governance (ESG) and diversity equity and inclusion (DEI)--have had on managing your own money

Ultimately, the book helps place current events in the context of identifiable historical trends. The book proposes that when you understand what the primary trends are and follow them to their logical conclusion, it makes planning for your financial future much easier.

What will be the role of the US economy in the future as policy makers try to grapple with new competition, economic and political, from Brazil, Russia, India, China - the so-called BRICs? The author follows the facts, the trends, and the stories that make up history and parlays them into forecasts for what he sees coming next. Ultimately, you'll get a review of previous trades and a new Trade of the Decade.

Front Jacket

Economic booms and busts are happening with more frequency. Since the turn of the new millennium, fortunes have been made and lost at a blistering pace. Each boom is like the tension building up before an earthquake. Seismologists can detect the build-up, but they can't necessarily explain why--or when--the next quake will hit. Economic busts can be equally as devastating...and followed by numerous aftershocks.

In this entertaining romp through recent economic and financial history, best selling author Addison Wiggin, traces the primary trends that have led up to rapid economic growth and innovation while keeping an eye on the inevitable downturn. The author practices "literary economics", telling stories about the characters behind the scenes and their motives, making this wide-ranging book easy-to-read. This current edition has been revised, adapted, and reimagined, enlightening readers about what's happening behind today's top headlines:

• The rise of new financial innovations over the past decade, including cryptocurrencies, mobile trading platforms, and the democratization of financial markets
• How the policies of the Federal Reserve following the Panic of '08 led an entire generation to become unwitting speculators in stocks, bonds, real estate, and rare commodities
• What impact new political trends--environmental, social, governance (ESG) and diversity, equity, and inclusion (DEI)--have had on managing your own money

Ultimately, the book helps place current events in the context of identifiable historical trends. It proposes that when you understand what the primary trends are and follow them to their logical conclusion, it makes planning for your financial future much easier. What will be the role of the U.S. economy in the future as policy makers try to grapple with new competition, both economic and political, from Brazil, Russia, India, and China--the so-called BRICs.

The author follows the facts, the trends and the stories that make up history then parlays them into forecasts for what he sees coming next. Ultimately, you'll get a review of previous trades and a new Trade of the Decade. Enjoy.

Back Jacket

Financial Reckoning Day is "...Accurate and Entertaining."

In Financial Reckoning Day -- an international best seller -- maverick financial writers William Bonner and Addison Wiggin made some bold predictions about the economic difficulties facing the United States. The themes from the original text ring strikingly true even two decades later.

Now, in Financial Reckoning Day: Memes, Manias, Booms and Busts... Investing in the 21st Century, Addison Wiggin boldly reimagines and adapts the themes of the original text. In this Third Edition you'll follow the narrative through the Federal Reserve's experimental monetary policy of the 21st Century and the subsequent mania and fraud in cryptocurrencies including their deleterious effect on the broader economy. Financial Reckoning Day has been and will forever be an entertaining read for the individual investor striving to understand the modern investment landscape.

"An investment book that will not only enlarge your investment horizon, but also make you laugh and thoroughly entertain you for a few hours."
--Dr. Mark Faber, author of the bestseller Tomorrow's Gold and publisher of the Gloom, Boom & Doom Report

"Financial Reckoning Day is... in the category of a scintillating sex or good vision, something to be savored and enjoyed before it is too late."
--James Dale Davidson, author of the bestseller The Great Reckoning and The Sovereign Individual

"A powerful and insightful vision... each paragraph stimulates a new rush of thoughts that fills in gaping holes in the investors' understanding of what has happened to their dreams... while prepping them to confront any new confusion that may arise."
-- Martin D. Weiss, author of the bestseller The Ultimate Depression Survival Guide

Author Biography

ADDISON WIGGIN is a best selling writer, publisher, and filmmaker, with over two decades of experience. An acclaimed New York Times best selling author, his books also include: Demise of the Dollar, Empire of Debt, and The Little Book of the Shrinking Dollar. Addison is the writer and executive producer of the documentary I.O.U.S.A., an exposé on the national debt, shortlisted for an Academy Award. Addison started his latest project, a podcast called The Wiggin Sessions, during the pandemic in a tornado warning. He films from a homegrown studio in Baltimore, Maryland where he lives with his family. Addison has interviewed, at length, many of the world's most accomplished financiers, investors, politicians and executives.

JAMES BEELAND ROGERS JR. is an American investor and financial commentator based in Singapore. Rogers is the chairman of Beeland Interests, Inc. He was the co-founder of the Quantum Fund and Soros Fund Management. He was also the creator of the Rogers International Commodities Index (RICI).