Crash Proof

Crash Proof

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Schiff, Peter D. | Downes, John John Wiley & Sons, Inc., 2007 Audio summary available
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While America was once the world’s largest creditor, it has since become the world’s largest debtor. In Crash Proof, author Peter D. Schiff explains that America is no longer a nation that produces and exports goods, creates wealth, and saves money. Instead, it relies on a service economy that is a poor substitute for manufacturing, incurs high levels of personal and national debt, and relies on borrowed foreign money to pay for excessive consumption. Investors seeking to protect themselves from a devalued dollar and an unstable domestic economy should look overseas, and put their money into foreign investments, gold, and liquid assets.