Politicians and many media even claimed that no one saw coming housing bubble burst. Well, that was so stupid, almost funny as the people who study the real estate cycle, or the economy would agree. However, if you happen to be among the masses who actually believe such a claim recognized media, I would definitely recommend an excellent book for you. The book is called:
“The Housing Market Crash coming; 10-now you can do to Protect Your Most Valuable Investment,” by John R. Talbott, McGraw Hill, New York, NY, (2003), ISBN: 0-07-142220 – X.
The first chapter entitled “Housing prices higher Watch,” and imagine that the title had written the first chapter of this book in 2003, long before the madness of the bubble that took us well into 2005. Chapter 4 go into much detail; “Crash Why is a possibility.” In chapter six he came to the regionality of the housing bubble and get almost the exact spot, the chapter entitled: “? Are House Prices Regional or National Problem”
In the last chapter and the summary he condemned the policy and the viability of Fannie Mae and Freddie Mack, a boy he was right. So, John R. Talbott? Well, he is a former VP of Goldman Sachs investment banking division, and a visiting scholar at the UCLA Anderson Business School. So you could say he’s a bit of track on the inside, but really just about anyone who has ever lived through the S & L crisis, or real estate agent in 1993 understood well and good, where we are headed.
Charts and graphs in this book tells it all, and predicts the calamities that allowed the bubble to build to the point that extraordinary and certainly not sustainable. Although he called the problem much earlier, those who let it build a road outside the restore point to blame. The continued support of the status quo at Fannie and Freddie ended in disaster as we all know.
Ok, a couple of disclaimers right up front: 1) SuperFreakonomics is a follow-up book to the authors’ first book – Freakonomics. I didn’t read Freakonomics, and as it turns out, you don’t have to read the first one to get the second one – these aren’t vampire novels; 2) More than likely, I would not have read Super Freakonomics if I hadn’t been sent a copy to review. Why? The word “freakonomics” is way to close to the word “economics” which, for a creative person like me, is a topic much like a bottle of wine – puts me right out. But I will tell you this – freakonomics is MUCH more interesting than plain, old economics. Here’s why:
In spite of the overly witty full title – Super Freakonomics Global Cooling, Patriotic Prostitutes and Why Suicide Bombers Should Buy Life Insurance – the book is actually a fascinating tale of how economics plays into even the most bizarre areas of modern life. I guess that is what authors Steven Levitt and Stephen Dubner wanted to convey with that extravagant title – they should have just let the content speak for itself, but I know, its all about getting people to OPEN the book, I get it, really.
So anyway, back to Super Freakonomics. I really enjoyed this book! I did snooze a bit through Chapter 3, but for the most part, here are two guys with nothing to gain except royalties. They don’t seem to have an overt political bend. They don’t seem to want to convince me that there is only one right way to do things. They’re not selling me anything I don’t already own. But what they are doing is taking incongruent subjects, like Al Gore and Mount Pinatubo (ok, not TOTALLY incongruent), prostitutes and Santa Claus, real estate agents and pimps, and telling me that they do actually have something in common and here’s how it effects my life.
You see, we tend not to draw the comparisons Steven and Stephen have drawn in Super Freakonomics. Most of us don’t want to see these connections or can’t because we only really look at the surface of things. The Steves have penetrated that surface and dove down deep. They’ve brought to light some things that make you go, “hmm.” Such as the hand-washing rate of doctors – YES YOU HEARD ME. You’ll have to read that chapter for yourself as its quite disturbing.
All in all, its a thought-provoking book that I highly recommend you read. If for nothing else than to give you a little perspective on the world around you, how we got here and where we can hope the future brings us. There’s a lot of what I believe is truth, in this book. The chapter on Global Warming is really a good one. But so is the Monkey chapter.
Levitt and Dubner have clearly done a ton of research and another ton of analysis. Typical economists… But untypically, they’ve written this book in such a way to make it all relevant to what’s happening in our world today. Thumbs up.
P.S.: I may just read Freakonomics now…
I finished reading Mike Maloney recent “Guide to Investing in gold and silver.” Since 2005, Michael Maloney as advisor Robert Kiyosaki invest in precious metals. Mike not only very intelligent person, he is an intelligent man who understands what shape our economy and really care about how it will affect the middle class. Delivered with passion and concern for the average American loud and clear. Reading this book is life changing.
In this book, Mike discusses the history of money, currencies and the cycle of boom and bust in all currencies. It started with the first currency back road accidents occurred in ancient Greece in 680 BC From there, he gives some historical examples that prove the same thing, money is not real money and are often used by governments to exploit the value of hard work residents on them. For a long time to be used as money, including livestock, spices, grains, paper, only two things to always be gold and silver as real.
Mike Maloney provide a useful education is not knowledge of the history of economic cycles, how the U.S. government is diluting our money supply and devaluation of our currency to benefit themselves and therefore are a precious metals investments is profitable, simple and sure you can do right now. To my great surprise found that although Mike says everything is supported by facts, figures, tables and graphs read the book as a thriller and I just want to keep the pages.
The impact of this simple explanation book, but details of how to understand the true value of the Dow compared to commodities, real estate and precious metals, how to say where we are in a cycle of boom and bust of the Another and more importantly how you can benefit from the information easily.
I’m not the financial turmoil of wealth is lost, but simply transfers from one group to another. In a previous series of games, the big banks and ultra-rich have benefited. In the economic cycle, there is a transfer of wealth of education on the correct information. Now you can select and learn to move to the side that receives the largest transfer of wealth in the history of mankind.
This book is not the type of financial information is taught in schools. If you can not learn, what you do not hurt you. This book can make a big difference in your future.
I was fortunate to partner with the group of qualified investors who opened my eyes to make money on the possibility that during the good times of financial distress. I am honored to personally meet with Michael Maloney, Peter Schiff, G. Marc Bruner Edward Griffin and a group of investors in our last conference.
I encourage you to do everything you can to join with a group of sophisticated investors who are willing to share their experiences with you. This statement is true that unravel the rich. Take your time with people who have what you want. Reading this book is written by people who have what you want.
The author Alice Schroeder mentions one story that aptly describes – the type of personality Warren Buffet has – it took place when one female friend of Warren Buffet stayed in the guest room of Ms. Graham and came out shocked to tell Buffet there was a real Picasso in the bathroom. Buffet told her he just noticed there was free shampoo available in the room. Other stories deal with the other power players such as Bill Gates and Akio Morita, in fact, Bill Gates is still considered as soul mate by Warren Buffet.
Right Book at the Right Time
The book The Snowball: Warren Buffett and the Business of Life couldn’t have arrived at the publishing scene at a better time. His prediction that the derivatives were weapons of mass destruction was bang on and the most accurate prediction (should we say prophecy) of the global economic meltdown. He was already aware of the dangers of government intervention and bailing out of failing banks by financial institutions.
Not a Perfect Book
The book is not without its problems. The first point is it is an authorized biography (you can’t expect anything sensational) and the second point is the length of the book – it is simply too long (but so is the life of Warren Buffet and his illustrious career). Despite these negatives, the book is absorbing and you will be forced to set aside some time for the book. The author of the book Alice Schroeder has been a financial analyst herself so she knows what she is talking about while she writes the book.
Inner Business
The book The Snowball: Warren Buffett and the Business of Life also concentrates on the inner business that goes on within the brain of Warren Buffet. The basic principle followed by Warren Buffet is to go by his inner scorecard rather than playing to the gallery. The other Wall Street tycoons were disgraced when things went wrong for them, Warren Buffet is different who didn’t fall prey to the trappings of wealth even if he was making all the money in the world. Even when he bought a private jet, he named it The Indefensible, which aptly describes the feeling he might be going through when he bought it. He is unsophisticated and proudly (and deliberately) so. He eats only cherry Coke, fries and burgers. His rules for investing money are very simple, he avoids debt, and remains invested in the market over the long term.
Why Only One Warren Buffet?
You may ask if these things are so simple, why is there only one Warren Buffet. The answer is – to become Warren Buffet, you need to be fiercely independent in mind and everybody cannot maintain this frame of mind all the time. He did not participate in the dot com boom, because he did not understand the way these companies did their business. Now we all know the obvious, he was right.
Anyone Can Stick To Basics
Surely anyone could do that (stick to the basics), so why is there only one Warren Buffett? The answer is that it demands a resolute independence of mind that eludes other investors. It’s not that he can easily convince the economists all the time. One group of economists came up with the Efficient Market Hypothesis and they said according to the theory, Warren Buffet simply couldn’t exist. Their central belief was that individual investors couldn’t consistently outperform the market. The theory was modified when Buffet pointed out his other eight peers were also doing equally well, since they were taught by the same teachers.
United States of America has proved itself as the largest and finest importer in whole world. USA import data is very handy tool for the traders around the globe. It has made its position in top traders of his world and can be called as intelligent business. US Import data is based on Bill lading, a shipping document filed at US Customs before entering the US ports. It is available on any Product exported by sea way to all US Ports. Data includes US Importer name address and Overseas Suppliers. Some of the important data fields have to be taken into consideration to receive imports from US:
• US Consignee Name, Address, Tel, Fax.
• US Notify party, Address, Tel, Fax.
• US Bankers Name, Address, Tel, Fax.
• Suppliers Name, Address, Tel, Fax.
• Date of Arrival.
• Actual Product Description as entered in Bill of Lading, Marks and Nos.
• Quantity and Unit of Quantity, Measurement.
• Overseas Country.
• Overseas Port.
• US Port.
• Bill Of lading No, Container No, Seal No, Voyage No, Vessel No. and Many more data fields.
USA Customs Import Trade Data Intelligence make a report on the importers in USA to find active, genuine US Importers, This report is based on authentic, actual import transactions filed at US Customs. These reports are compiled from Bill of Lading, Shipping Manifests filed with US Customs at US Ports.
Commonly, USA imports import goods like marble, cartons, handicrafts, glass art ware, woolen fabrics, yard woolen fabrics, Iron, wood seap, stone, Indian drass, copper, glitter plastic, ball pens, woven blouse, automotive components, storage bags, dolls clothing, ornaments, pictures, furniture, kitchen wares, books, clothes, compact discs, tables, storage devices etc. US update its goods regularly and give notification to traders for any new coming goods in the market.
The various advantages of USA import data are:
• Excellent directory to look for active USA importers and buyers.
• Consistency.
• Best quality products
• Pocket sized price.
• Latest market trends.
• Discover new market.
• 24*7 availability.
According to US census Bureau of import export “The import statistics consist of goods valued at more than $2,000 per commodity shipped by individuals and organizations (including importers and customs brokers) into the U.S. from other countries.
The above statistics of USA import data and the subsequent export data itself divulges the prospect for the importers in USA. Importers must remember some basic requirements of USA-
• Custom clearance, it includes- entry, inspection, appraisement, classification and liquidation.
• Declaration of dutiable value of goods.
There are certain things need to know before starting import business from USA like some technicalities, detailed requirements etc until and unless the pros and cons of USA business doesn’t occur, it may create some problem in getting the desired result. There are many online directories available offering the complete information of importers in USA, USA import data and their current trends.
Robert Kiyosaki launched his recent book as a viral event by having chapter by chapter released online and collecting comments from readers. The end result is a physical book “Conspiracy of the Rich: The 8 New Rules of Money”.
Judging by the stream of traffic flowing to his ConspiracyOfTheRich.com website and comments from readers, it has not put the world alight, but worked fairly well.
Robert Kiyosaki is best known as author of the best-selling book “Rich Dad, Poor Dad” and ever since that book came out in 1997, he and his colleagues, has just held publications to come.
The controversy over the years has focused on Kiyosaki’s view that your house is not an asset (instead it is an obligation, because it takes money rather than makes money) and that mutual funds are unsafe and losing investments.
You can say that by the time he writes this book in 2009 his views have, at least in part, been shown to be accurate.
Kiyosaki was controversial in 2002 when he came out with Rich Dads Prophecy predicting a crash. His assertion that the demographics of the Baby Boomer generation and the laws of their retirement investments would lead to a heavy crash in the stock market when they stopped working and began living off their investments. He predicted this to be sometime from 2010 onwards, and it seems to be panning out.
However Conspiracy of Rich is his strongest statement literary statement yet.
Kiyosaki is at both vivid and scathing; from the Introduction “The Root of All Evil”, to the later section on “Hijacking of the Education System”, where he compares the US to wartime Vietnam or the shanty towns of Cape Town in South Africa.
His message continues, “Today, those who have a strong financial education have an unfair advantage over those who do not.”
As always, Kiyosaki is speaking in general terms, using stories and metaphors (such as the tale of the big bad wolf and the three little pigs). He also references much from his previous books. In fact, every one of his eight new rules can be found in his earlier books.
But this book also has more hard and relevant facts, and more solid warnings than ever before.
For example, in Chapter 10 he explains exactly why the recent chaos has been followed by seeming stability. The graph shows that he is instead of green shoots, are we merely in the eye of the hurricane, and Lehman Brothers etc or worse is set to occur again, he predicts, within the next two years.
Chapter 12 shows that the U.S. stock market low on the Dow of 6547 in 2009 is no bottom, and that there is still much lower to drop.
A consistent criticism of Kiyosaki is that he is very repetitive. This book keeps the same style as the previous ones. Kiyosaki response is that repetition is a part of learning, and I’d agree.
A few months ago I went back and reread Cashflow Quadrant, and was surprised at how much I felt that I was not even to pick out all those years ago when I first read it.
Personally, I ended up after much of Kiyosakis path to riches. I’d prefer say its because I’ve followed his advice but in reality its more because my experiences have agreed again and again with his messages.
If you just want the guts of the “Conspiracy of the Rich” you can read the final Chapter 12 “If I Ran The School System”, but there are enough interesting stories in this book to make it worth reading all the way through.
If you are familiar with Kiyosaki’s most important books, and you understand fractional reserve banking, Fiat currency and the notion that the Federal Reserve is not federal or U.S., it has no reserves, and it is not a bank, then you can get the few extra nuggets pretty quickly.
If you are new to Robert Kiyosaki, or have not encountered Austrian economics (a term never used in the book) then it is both a treat, and a mental work out. More than any other of his books this one covers a lot of territory for the newcomer. This is also one of his most fundamental books about money and general financial skills, and deserves to be read broadly.
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