The Impact of the Pandemic on the Global Economy: Examining the Winners and Losers of the New Great Depression

EbbTide: This book is a good solid read and nothing like the ultra-dry economics books from my college days.
Jim Rickards really goes out of his way to explain what a financial pickle we are in as a result of Covid-19 and all of the resultant money printing.
What I appreciated most was Jim using vivid and tangible examples as similes to exercise getting his point across to the reader. My wife read this book after I was finished and she liked it too.

United States on Nov 27, 2023

John Reamer: Even though it did hit on some troubling issues, it seemed a little partisan.

United States on Nov 18, 2023

raquelraquel:

Brazil on Oct 24, 2023

Jakub Zganiacz: The book tells the story about the history of central bank to the biggest scam od 2020.
I would highly recommend to anyone who wants to know something more,rather what it is said in the news.

United Kingdom on Jul 18, 2023

Credit Man: Those who have heard James Rickards, or read his books, will know that for a decade he has prophesied the outcome of grossly excessive Debt and poor management by the Fed: a collapse in the value of fiat currencies and a medium to long term depression (high unemployment, low GDP growth, etc).

This book picks up the theme as Corona virus reached its first peak. About half the book considers the history of the US response to Corona: Rickards criticises the response of governments, particularly ‘lock downs’. He is not entirely one sided, recognising that social distancing etc help, and acknowledging that the virus was man made in Wuhan and negligently released, but suggesting this was not a deliberate act by the CCP. From his view it seems the USA was as unclear as the UK in its messages to the public.

I found this section too long: we know the history of Corona. In places he is simply wrong - saying vaccines would not be developed or effective when we know they were available from late 2020 and highly beneficial - while we look to Professor Rickards for guidance on economics, not diseases.

He predicts the outcome of Corona will be a Depression with...

United Kingdom on Dec 25, 2021

Amazon Kunde: First of all, I've read only very few pages of the first 2 chapters as it only repeats what has happend chronologically regarding Covit in 2020 but there is not much sceptisism or even criticism at all. I believe the autor just dont want to argue on this level and being accused for being a .... whatever the media is calling critics nowadays (from aluminium hat to Nazi.... blah). Okay, fair enough to focus only on the economic consequences. The autor gives a historic context of the previous pandemics and recessions/depressions and some pretty depressed forecast on future growth for the USA. The book is mainly US-centrict but as EU (especially Merkel-Germany) sucks hard anyways, and the US is far more important these days I think its fine as the situation in the EU is in many ways similar or just lagging behind. I also agree with his views on the modern money theory but in general... just very few pages spent for each topic. The investment part is interesting but he suddenly uses Bayes' formular as if all readers are familiar with stochastics (as computer scientist I am but it surprised me that he just throw this into the text like that). If you crawl daily YouTube videos of...

Germany on Jan 30, 2021

Jeffrey D. Smith: I read the book "The New Great Depression" by James Rickards; very brainy stuff, highly critical of the govt response to the pandemic, highly analytical of govt intervention of the economy.
The book is very good and informative, while I take issue with his "solution" to economic depressions.

He makes a critical erroneous conclusion by praising Roosevelt and Nixon for abandoning the gold standard, devaluing the currency.
Which, by the way, required literally starving the US population, while exporting food to foreign nations.
Food starvation is deliberately caused by the govt paying farmers and ranchers NOT to produce food, destroying food instead of donating that food to the needy, and reserving food only for export.
FDR extended the Great Depression for almost 10 years, stealing gold, causing massive wealth destruction, suffering, and death with his unconstitutional socialist programs and draconian illegal executive orders.

Please read "The Great Depression: A Diary" by Benjamin Roth to learn what really happened under FDR's dictatorship.
FDR's dictatorial rule, which ended by dying in office, was the major catalyst for enacting the 22nd amendment to...

United States on Jan 26, 2021

Jawad ShuaibJawad Shuaib: This book discusses the economic repercussions of the pandemic. Most market participants are of the view that a rapid economic recovery will follow the vaccine rollout. The author is not so optimistic.

The stock market is generally good at discounting the future – however, continuous government stimulus has blunted the market’s senses. This sedation has led to a financialized economy impervious to the ground reality; much of the demand lost is permanent and growth will stay depressed for many years.

We have had pandemics before. We have had steep recessions before. But we have never had both together.

Unfavorable demographics and debt overhang have further drenched us in a deflationary cycle that can only be countered using sound economics. Unfortunately, we are more likely to adopt Modern Monetary Theory (MMT) and its lackadaisical approach to deficits. We are going to try and spend our way out of trouble but it won’t work.

The problem is that while the government can print money, it cannot print confidence in money.

The author draws up on complexity theory, Bayesian inference, behavioral science and history to navigate the storm ahead. He...

Canada on Jan 22, 2021

Nomi M. Prins: In The New Great Depression, Rickards takes the reader through a measured, captivating and clear story about where the United States in particular, and the world in general, stands under the compound threats of the pandemic, economic headwinds, and rising social unrest. Rickards possesses a masterful way of explaining complex concepts and information with snappy prose. His work is punctuated with quotes from classic books and authors, as well as solid footnotes, references and citations from leading international academic, economic and media organizations. He does not attempt to tell his readers what to think, but offers plenty of room and material for them to draw their own conclusions.

In addition to an introduction and conclusion, which are presented in a clear, logical fashion, Rickards divides his book into six chapters. The main theme is presented succinctly on the first page of the introduction:

“This book is about a virus that caused a global depression. More precisely, it’s about how our reaction to the virus caused a global depression.”

The first two chapters delve into the viral science behind the coronarius, and reasons for the onset of this...

United States on Jan 18, 2021