"Financial Reckoning Day"

Paper Summary:

This paper reviews the investment advice provided in Bonner's and Wiggin's book, "Financial Reckoning Day". The paper looks at how the authors explain business cycle recessions and depressions, their discussion about the Internet bubble and burst, and some of the guidelines the authors offer to the potential investor.

From the Paper:

"The idea of a "soft depression" may seem oxymoronic to the reader's eye, much like "jumbo shrimp" or "a sure return" on your investment. A soft depression, however, is not another economic term a downturn in the economy less onerous upon the population than a "hard depression". Rather a soft depression is a depression that is based in a multitude of historical and demographic as well as economic factors that can cause a growing instability in the economy over time, rather than a quick, harsh decent into economic misery. In fact, a soft depression, quite unlike a "soft fall" is often much worse in terms of its ramifications than a short, sharp shock of a quick depression, much like drowning rather than a death by a firing squad, to use the type of metaphorical language so beloved by the authors William Bonner and Addison Wiggin of Financial Reckoning Day: Surviving the Soft Depression of the 21st Century."

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