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Contagion: The Financial Epidemic That is Sweeping the Global Economy... and How to Protect Yourself from It | 
 enlarge | Author: John R. Talbott
Publisher: Wiley
Category: Book
List Price: $24.95
Buy Used: $2.00
You Save: $22.95 (92%)
New (38) Used (26) Collectible (1) from $2.00
Rating:  29 reviews
Media: Hardcover
Pages: 272
Number Of Items: 1
Shipping Weight (lbs): 1
Dimensions (in): 9 x 6.1 x 1.1
ISBN: 0470442212
Dewey Decimal Number: 330.973
EAN: 9780470442210
Publication Date: December 31, 2008
Availability: Usually ships in 1-2 business days
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| • | ISBN13: 9780470442210 | | • | Condition: New | | • | Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed |
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Product Description
Bestselling author John Talbott outlines the troublesome economic times ahead and what can be done about them Tough times are here, and author John Talbott-who accurately predicted the dot.com technology stock collapse as well as the recent housing, mortgage, and financial crises-argues that the coming global recession will be unlike anything we've ever seen. In Contagion, Talbott turns his attention to this crisis and offers insights on what can be done to navigate such treacherous terrain. Talbott sets the stage by discussing how government borrowing and spending on the war, healthcare, Social Security, and corporate giveaways combined with dramatic increases in personal spending, fueled by credit card and mortgage debt, have funded unsustainable levels of personal and government consumption. - Offers practical suggestions as to how investors and homeowners can best weather this storm with straightforward advice on where to invest
- Examines real estate and housing issues to help you make the best decisions possible in this arena
- Details the best ways to utilize stocks, bonds, TIPS, and commodities, and to prosper during this global crisis
- If you really want to protect yourself from the unfolding economic crisis, then Contagion is the book you need to read.
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| Customer Reviews:
Showing reviews 1-5 of 29
 Wanna buy my copy? December 26, 2009
Kevin B. (Portland, OR USA)
0 out of 3 found this review helpful
I have several issues with this book. The main one was delivery of what was promised. Inside the jacket cover it starts by saying "During these turbulent economic times, with what could be the deepest global recession we've ever seen bearing down on us, the one thing you don't need is another book descibing how we've gotten to this point." 3/4 of the book is describing just that, how we got here. "What you do need are insights into what will happen going forward and how you can use this information to protect what really matters-including the value of your home and portfolio.." The other 1/4 of the book does talk about what the future looks like ... dreadful from Talbot's perspective, but is short on really what to do to protect your portfolio or even make it grow during turbulent times. There are no specific ideas to implement to protect yourself.
The chapter about Credit Defaults Swaps was interesting and what a large problem that is, and I do agree that needs regulation. The 2nd problem was the 3/4 of the book blaming everyone. If you believe the "evil doers" of Bush, Cheney, Haliburton, every profit-seeking corporation in the country, your mother the Realtor, or your cousin the mortgage broker were the cause of this global meltdown you will love this book. Also if you believe that a book researched largely from the New York Times is going to give you a non-partican perspective you will love this book. If you believe how he describes his previous book of Obamanomics, that Mr. Obama's economic policies will right the US economy, bring about housing, banking and energy reform and instigate social change...you will love this book. Wanna buy my copy? What a waste of money and time.
 Real Culprits Identified November 16, 2009
Mahmood Ali (Texas, USA)
1 out of 1 found this review helpful
The author has correctly identified the real culprits who brought down the economic infrastructure of this country and the rest of the world - the different lobbying groups, the United States Congress, and other croocked politicians who rely on these special interest groups' money to get elected and re-elected. He also boldly blames the Main Street who has self indulged selfishly without any regards to the future of the younger generation and generations to come. What impressed me the most about was the author's audacity to boldly point out the moral decay of the American people - the same people who will be the primary buyers/readers of this book. He shows by way of concrete example how the American people failed, and their elected officials failed them.
I would encourage prospective readers to pay particular attention to the last chapter of the book - each and every line should be read with close attention. If you personally disagree with any of the ills that the author pointed out about our individual failures, then you will know that you are also the cause of decline of this great nation into a third world country. I will urge all readers to read the last chapter of the book over and over again.
BTW, to some, it may appear at times that the author repeats some information multiple times. However, I consider that as a desired trait of a good teacher who reinforces the ideas presented. Two negatives from my perspective - (1) an author who has written so many books, should have chosen a better editor, and (2) he should have mentioned Goldman Sachs and the active role the company played which brought havoc from Wall Street to Main Street. Nevertheless, I give him 5 stars for the content of the book.
I think John is well gifted. September 21, 2009
E. Antonio (USA)
I've read lots of related books and nothing is as informative as this book. John can see clearly the heart of the economy and the politics behind it. I watch him on TV and listen on radio.
I wish I could discover John's books earlier and could have protect all my real estate investments.
He was able to see the housing market crisis coming.
Henry Paulson former Chairman and Chief Executive Officer of Goldman Sachs was able to bail it being a Treasury Secretary, but failed to take care Lehman Brothers?
Who police the police?
Repetitive & Incomplete September 12, 2009
Liberty4all (New York, NY USA)
2 out of 3 found this review helpful
There are things to like in this book and many things to dislike. On the positive side the author does a thorough job of discussing most (but not all- see below) of the causes of the housing crash and I believe gives a good estimate of where prices may eventually settle which is a valuable addition to the subject.
However, there is much to dislike. First off, there is a tremendous amount of repetition some of it in fact word for word. There is a paragraph about lobbys that appears on page 44 that is almost repeated verbatim on 205. Perhaps this can be blamed on the editor, but there is so much of it that deja-vu was a constant companion when reading this book.
More important is the author's underlying left wing bias that surfaces all too frequently. Some examples: the author states that most Americans support anti-global warming initiatives. This is false in itself, a majority do not. However he also claims that the reason no laws have been passed to date is because of utility lobbys. Coveniently he leaves out the many lobbys (environmentalists, GE, unions etc) that lobby for the passage of global warming laws despite the fact that most Americans do not want them.
Similarly he states that the only reason we don't have universal healthcare is due to evil corporate lobbys. What about all the lobbys (unions, Walmart etc) that do support universal health insurance?
What the author ignores is that billions are spent on lobbying every year precisely because government is over-involved in creating legislation and regulations for every facet of life. It is like a protection racket. Don't blame the people paying protection money, blame the extortionists.
Similarly, the author ignores the fact that term limits would likely be a more effective way to curb the powers of lobbys. If a Senator or Congressman knows that he cannot be re-elected for a lifetime job as a politician, he or she won't be constantly looking to raise campaign contributions. Better term limits than a ban on free speech.
Capitalism: In one section the author rants against Home Depot and Lowes stating that once they kill off all the local competition they will raise prices. This is the same nonsense we've been hearing about Walmart for decades. Yet I don't hear anyone criticizing Walmart because their prices are too high! In fact, the opposite is true. This sort of nonsense is symptomatic of the author's view on capitalism.
Hedge funds: The author has some odd claims about hedge funds and would like them totally regulated. First, to the best of my knowledge, no hedge fund got a bailout in the 2007-2009 meltdown. Only already regulated commercial or investment banks did. He also claims that the fact that hedge funds outperform regulated investments is clear proof that they are cheating. First off, there is no proof that hedge funds have superior performance over the long run which demolishes his claim. Secondly, even if a few hedge funds do show some outperformance, this may be due to survivor bias. Or, his view assumes that the markets are perfectly efficient. If so, perhaps he also want to accuse Warren Buffett of insider trading, front running and other tactics he assumes hedge funds are using? He offers no proof whatsoever that hedge funds outperform or that they are guilty of illegal activities.
FDIC: The author overlooks perhaps the most important cause of the overuse of leverage in the system which is FDIC insurance. A consumer has no incentive whatsoever to care about the financial stability or balance sheet of a commercial bank or thrift. Let the bank leverage up 1000 to 1. What do I care as a depositor since my money is insured? If the FDIC didn't exist, you can be sure the banks would be far more conservative in their use of leverage as nobody in their right mind would place deposits with a Corus, Indymac etc.
Finally, as another reviewer points out, the enabler of much of the wild leverage (and crucially, inflation) is the Central Bank and the fractional reserve banking system itself. Overlooking this is ignoring the 300lb gorilla in the corner.
All in all, kudos to Mr. Talbott for apparently predicting the housing crash. However an ability to predict is not the same as an understanding of how to stop it from happening. That is where this book fails fairly miserably.
 Ultra-sloppily written September 1, 2009
San Franciscan
1 out of 1 found this review helpful
I have multiple copies of Mr. Talbott's previous books "The Coming Crash..." and "Sell Now!" on my shelf and have foisted them on anyone who would listen, but his latest books are a major step down. I understand that these were written in a hurry and rushed to market, but that's no excuse for the level of sloppiness-- it really begins to feel like an insult to the reader, especially when you've paid for a hardback. Any good copy editor could have cleaned this book up in 24 hours-- is that too much to ask, folks?-- and with a week, it could have been made a little tighter. As it is, it comes across as a train of thought put down on paper, complete with social commentary sidetracks. Sad to say, this puts it perilously close to the category of books out there that read as "your know-it-all uncle/neighbor/friend self-publishing his say about the world."
So you don't miss out, here's the summary of investment-related analysis in this book, complete with yet another example of slightly-muddled punctuation: "So, to summarize: cash is king, TIPS, gold, and China are the best bets I can suggest during these coming hard times."
My suggestion? Read his earlier books to understand how we got here (as I'm writing this in 2009, much of what's in this book has already come true anyway). Then get yourself some TIPS, read the Economist, and if you feel the need for more, read something by Robert Shiller or the brand new book by Andrew Smithers. Mr. Talbott, you have a valuable take on the situation and have consistently been prescient; but if you want us to continue shelling out good money for books, get yourself an editor.
Showing reviews 1-5 of 29
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