How America Can Escape the New Great Depression |  | Author: Michael A. Kamperman
Publisher: Creative Man Press
Category: eBooks
In Stock
Rating:  5 reviews
Sales Rank: 267,927
Format: Kindle Book
Media: Kindle Edition
Edition: 1
ASIN: B0028N6X08
Publication Date: April 6, 2009
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Product Description
March 2009. Worldwide industrial production plummets even faster than it did during the Great Depression of the 1930's. Governments all over the world are scrambling to resuscitate failing banks. Yet despite their best efforts, the global credit markets remain broken. Unless these credit markets are fixed, the economy will continue to spiral downward until it hits bottom--a New Great Depression. It was not the New Deal but World War II that ended the Great Depression of the 1930's. To end the New Great Depression we are entering, the U.S. Government must take bold economic action on a scale equal to the economic impact of World War II. This book outlines the 7 controversial steps the U.S. government must take to fix the broken credit markets and stabilize the U.S. economy. Conventional wisdom has been tried. It has failed. We are at a unique time in economic history--only a unique and unconventional economic response can save the day.
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| Customer Reviews:
 If you'd like to know what the hell is happening... April 21, 2009
T. R. Collins
2 out of 2 found this review helpful
This book provides what is by far the most straightforward explanation of our current economic crisis that I've yet encountered. Kamperman's proposals are controversial, no doubt; he advocates, among other things, printing money on a mass scale and lowering the age requirement for social security and medicare. But this is precisely what makes his book feel so vital and important; here's some one who understands what's happening and who's clearly frustrated by Congress's inability to look outside of the box for bold solutions. If you know nothing about the financial crisis (Kamperman calls labels it an impending Great Depression), this book is for you; and if you know quite a bit about the economy, this book is for you, too, seeing as it contains (for once) sound arguments for thoroughly unconventional proposals. Recommended.
Kamperman Can Get The World Out Of The Great Depression!! April 29, 2009
Jennifer Domingo
1 out of 2 found this review helpful
This book read so well it was like reading a novel. I could not put the book down!!!
Kamperman gives clear understandings of how we came to be in our economic situation and he gives solutions to get out of our economic situation. He has thought outside the box from social security, bonds, credit markets, FDIC, TARP, Fannie Mae, printing money, selling cars, real estate, mortgages, resolution trust corp., bad bank, retiring people,and creating jobs.
The book is written in layman terms so that even a Congressman, Senator or President could comprehend!!!!
 Escape, Recover and Avoid the Next Great Depression April 25, 2009
Carol J. Smith
This insightful book has outstanding ideas. Kamperman is creative and has the background to back up his solutions for all Americans. The economic woes we are facing affects all Americans. We must make great strides to recover our economy. Read this faciniting book now.
 A modern William Jennings Bryan advocates running the printing press July 14, 2009
Richard Gibson (Woodland Hills, CA)
3 out of 5 found this review helpful
Michael A. Kamperman has a simple view of what ails our economy and how to fix it. The problem,in his view, is that the credit system has been destroyed. The solution is to create a massive amount of new credit, by the Federal government printing money and using the money to buy back virtually all U.S. Treasury bills. He has other ideas, that all flow in the same direction. For example, he wants to lower the retirement age to 60, do that people start getting Social Security five years sooner. He wants the FDIC to insure lots more deposits. He wants to merge Fannie and Freddie and to make them much bigger.
In short, Kamperman advocates credit inflation. He wants to create lots and lots of inflation, to buoy the economy back up. Reading him takes me back in time. It is like reading one of the Populists from the 1890s, like William Jennings Bryan. Bryan believed that the whole problem with the economy was that the gold standard was too restrictive. He wanted to monetize silver. The point of that proposal, however, was simply to create a whole lot more credit, and that is precisely what Kamperman wants as well. He sees salvation in lots and lots of credit.
I disagree. I think that excess credit is what got us into this mess, and that thus more of the same will not fix the problem. We have had bubble after bubble for the last 15 years, starting with the dot-com craziness and then going into the real estate bubble. Each of these bubbles was driven by extremely easy credit.
What Kamperman basically wants to do is to bring back the good old days of the bubble. He wants to float our economy off the rocks of deflation by aggressive use of inflation. The problem with this is that the prior bubble was not sustainable, and thus cannot be brought back. As painful as this downturn is, we need it; it is getting asset values back down to realistic levels.
And my goodness, lower the retirement age?!!! That is the opposite of what we need. Our government is facing insolvency due to the long-term demands of Social Security, Medicare and Medicaid. With some many people getting paid big entitlements, we are facing a situation where there are not enough workers to pay all of this. The long-term solution is likely to be to increase the retirement age to put these programs onto an actuarialy sound basis.
 Outside-the-Box Solutions to our Current Economic Perfect Storm April 18, 2009
Doc Lawrence (ILLINOIS, USA)
3 out of 4 found this review helpful
If you want to read a controversial book with outside-the-box solutions to our current economic perfect storm this is it. I liked it because it's the best and most understandable writing I've found explaining our current economic situation. From credit markets to Fannie Mae to the municipal bond market to Social Security Kamperman explains what the real problems are and their real causes. I don't agree with all his solutions but they are creative, unexpected and bold. This is a book you will want to mail to your Congressman and Senators because, in most cases, it's obvious they don't understand our situation as well Kamperman and are certainly not thinking as creatively.
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