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The Dollar Crisis: Causes, Consequences, Cures , Revised and Updated

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Posterity may remember The Dollar Crisis as a seminal book in the field of 21^st century economics. Indeed, rarely has a book offered such a grim yet, well argued view of the current economic situation facing the world.-- Steven Irvine, FinanceAsia Duncan writes like a man who’s already seen tomorrow. -- James Grant, Grant’s Interest Rate Observer
I held a class for about 150 people on the book entitled "The Dollar Crisis," authored by Richard Duncan. If you want to better understand why the real estate bubble bust and the crash of the dollar will probably lead to a prolonged recession, you may want to read this book sooner rather than later. In a nutshell, we really do not have a real estate bubble... the world is in a currency bubble. In other words, the governments of the world have printed too much "funny" money and cash will soon turn to trash. Even if you are not in real estate or are saving dollars, you may want to read this book to find out what you need to invest in now, before the bubble bursts. If you are in stocks and mutual funds, you definitely want to read this book.-- Robert Kiyosaki, author of Rich Dad, Poor Dad
I would like every one of my subscribers to click on to Amazon.com and buy a new book that has just been published entitled, “The Dollar Crisis, Causes, Consequences, Cures.” The book costs around twenty bucks and is worth ten times that amount. The author, Richard Duncan has a great background and is as smart as they come. He explains why he sees a crashing dollar and a severe recession coming up in the US – plus a world recession. This is no wild-eyed guru, this is a guy who knows what he’s talking about and a guy who understands money and the world monetary system – he’s worked for both the World Bank and the International Monetary Fund. Please buy this book!-- Richard Russell, Dow Theory Letters
Richard Duncan crisply explains why payback time for years of credit excesses, payments imbalances and securitized sub-par lending is imminent. Mr Greenspan, your time is up. --Philip Bowring, International Herald Tribune
Richard Duncan’s excellent book… we cannot recommend it enough.-- Bill Bonner, The Daily Reckoning
Richard Duncan… is one of the brightest financial analysts I know. Richard is the author of one of my favorite books called The Dollar Crisis: Causes, Consequences, Cures.-- John Mauldin, Thoughts from the Frontline
For a preview of how it might play out, consult Richard Duncan’s recently revised book, The Dollar Crisis: Causes, Consequences, Cures.” Just try to sleep after digesting its thesis that the world’s biggest economy is looking like a huge and growing Ponzi scheme.--William Pesek Jr., International Herald Tribune

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Product Details

Author:	Richard Duncan
Paperback:	324 pages
Publisher:	Wiley
Publication Date:	June 22, 2005
ISBN:	0470821701
Package Length:	8.9 inches
Package Width:	5.9 inches
Package Height:	1.0 inches
Package Weight:	0.85 pounds
Average Customer Rating:	based on 66 reviews

Customer Reviews

Average Customer Review: 4.0

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0 of 2 found the following review helpful:

Consequences Jun 20, 2008
This is a great book. This is not light reading. But in regards to the review of this book, I guess it depends on the age of the reader. I am 100% sure no one under the age of 28 have ever read the book or would care to read it. But I am old enough to know that when I was born there were only 150 million Americans, gas was .25 cents per gallon and the coins in my pocket were 90% silver. My first job paid $1.53 per hour and I can remember going into a country store and telling Mr. Childers "I want .25 cents worth of balogna, cheese and crackers" and I would get stuffed. Mr Duncans Cures? Maybe so, but I believe we will fix nothing and our money is now a joke. Regards, Keith Renick, Peachtree City, Ga.

0 of 1 found the following review helpful:

The Dollar Crisis Mar 03, 2008
A very good and readable presentation of the global economy and how the profligate spending and massive debt accumulation of the United States will bring about severe ramifications not seen since the great depression.

3 of 3 found the following review helpful:

Drivers of the Global Economy Jan 02, 2008
Best I've read (and re-read) that gives a semi-informed layman an understanding of the dynamics of the global economy. In light of the current global credit crisis, the deflation of the US property bubble, the downturn in US consumer spending and sentiment and the likelihood of the a US recession, this book is amazingly prescient.

The recommended solutions to the credit and currency crises won't happen due to the self-interested nature of national politics, which suggests there is no positive outcome to this.

3 of 3 found the following review helpful:

Are you brave enough to read this book Nov 24, 2007
I never studied Economics at college so this book became my 101 and explained in depth why foreign countries, until recently, kept buying our US Treasury Notes even though they knew we were trillions of dollars in debt. Intuitively I suspected the current bull market was on borrowed time but this book spells out in detail how our current relative affluence is about to end and nothing can stop this train wreck from happening. This train wreck is not just the end of the latest bull market but the beginning of a severe recession and depression. Richard Duncan brings together the separate catastrophes of Peak Oil, Global Warming, the Collapsing Dollar and the Loss of its Reserve Currency Status and, the Lack of American Savings to clearly explain why the good times are about over. So be warned that this book is not a comfortable read. If like me you are wanting to absorb the message quickly, rather than try to nit pick his findings, then I would fault his over-use of charts and data tables. I started skipping them after I realized they were extra detail and not essential to the theme of the book.

Richard Duncan goes to lengths to explain how we are part of a global economy and gives a plausible reason why the only way out of the coming depression, which mainly is the result of severe trade imbalances between the US/Europe and ASEAN countries, is for these third world exporting countries to raise their living standards. This will likely mean an internationally agreed minimum wage for all forms of labor. Only by using a flat playing field can free trade occur as it is intended to.

Other informative books to read in this gendre are "Crash Proof" by Peter Schiff (Dr Doom)Crash Proof: How to Profit From the Coming Economic Collapse (Lynn Sonberg Books)
and
The Coming Economic Collapse: How You Can Thrive When Oil Costs $200 a Barrel by Dr. Stephen Leeb.

Having read these and other publications I am now cashing in all my diversified US Dollar denominated investments held by a major Wall Street investment house, in order to buy quality foreign stocks and bonds directly from foreign stock exchanges using their own strong currencies. There are ways explained in this book on how to mitigate the coming extreme pain but we will all suffer a diminished life style.

5 of 5 found the following review helpful:

Solid Jul 30, 2007
"Politics is the ability to foretell what is going to happen tomorrow, next week, next month and next year. And to have the ability afterwards to explain why it didn't happen. " (C) Winston Churchill

According to this definition, Mr. Duncan is a good politician and he probably should run for office.

This is a second edition of the book. First edition was written sometime around 2001-2002 and was predicting imminent collapse of the dollar and post-dot-com-bust recession turning into major depression.

As we all know, that didn't happen. Instead of going into the ground, U.S. economy started a gradual trek upwards, partly due to real estate boom brought about by low interest rates, partly due to ingenious fiscal and monetary policy of Washington DC and support from national banks of China and Japan.

By 2005, Mr. Duncan felt compelled to write a new edition of his book, this time adding passages about real estate bubble and a whole new section describing developments since 2002 - in essence, explaining why predictions of 1st edition haven't come true yet.

Jokes aside, this is a solid book and it's highly recommended to any serious reader. A warning, though - it's not a popular book, and it's not meant for light reading - it leans towards scientific style, so it may seem dry and hard to read, especially to someone without basic knowledge of macroeconomics.