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What does the book AFTERSHOCK communicate to investors?

Robert Wiedemer

Aftershock Book

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Video Transcript

The aftershock is essentially what happens after the first four bubbles that we discussed in, "America's Bubble Economy" pop. Those were the consumer spending bubble, the private debt bubble, the real estate bubble, and the stock bubble. When those pop, or obviously, when the real estate housing bubble popped, it started to put pressure on the other bubbles and those started to pop. Those put pressure on the dollar bubble and the recovering debt bubble; that's the aftershock.

I think one of the things we try and do in "Aftershock" is to be as honest and apolitical as we can get. "We call it as we see it" type of advice. It does mean that things may not be that good. I mean, we have constantly people saying, "Isn't real estate really going to bounce up here in New York." or "Real estate never goes down for long in San Francisco, right?" They have a bias; it's again, like when people ask me, "When is the economy going to turn back up, that's all I really want to know." Well, there's an automatic bias there. What we have to do in "Aftershock" is really layout what's going on and what is clearly going in terms of trends with the government debt, with the dollar, with stock market, with real estate and what are the forces driving those up, and hence, what could be the forces that drive those down. So we try to explain in a sensible, rational, logical manor as possible, what's driving the economy now and where it's going to go. Of course, we see some problems coming ahead that you should be well aware of. If you're not well aware of, you're going to get slapped on the side of your face and you're not going to be very happy about it. So if you read the book, you're going to know about some of these issues. You'll know about it before everybody else does. That's going to be a big help to you and it's going to be a big help to your investments.

So step back, be a financial realist, check your politics at the door, whatever you may think, and be a financial realist and look at what’s really going on in society and where you really think we're headed. I think we'll find that "Aftershock" has a pretty honest opinion on where we think we're going to go.

Related quote from his book:

"The real impact of these four bursting bubbles is the terrible downward pressure they are now exerting on the two remaining bubbles: the dollar bubble and the government debt bubble." (AFTERSHOCK, page 60)