"No one can be lonely who has a book for company." ~ Nelle Reagan

Tuesday, May 24, 2011

Are We Headed for A Global Depression? Book Review: 21st Century Great Global Depression by Orest Andrew Harrison

21st Century Great Global Depression The Perfect Economic Storm
Author:  Orest Andrew Harrison
Copyright 2010
Publisher:  Outskirts Press Inc.
Genre:  Business & Economics/Financial
Pages:  136
Includes:  Forward, Disclaimer, General Outline, Table of Contents, Quotes and Expressions
ISBN 978-1-4327-5807
Available at Amazon, Barnes and Noble, Borders, http://www.outskirtspress.com/, and other online retailers.

From the back cover:  How will the coming years play out? 21st Century Great Global Depression is presented not only as a historic analysis of recent economic events but also as a prognostication tool with the intended purpose to serve both as a warning and a wake-up call to our country's leaders, representatives, politicians, etc. highlighting our dire need for fiscal and political reform. It is imperative that we face our crippling budgetary problems head-on and without delay before it's too late.  Do we as a nation have what it takes to make the necessary reforms to allow the American Dream to thrive on and to ensure prosperity for future generations of Americans, or do we maintain the status quo and preside over the abject collapse of our global economic system?

My review:  This book is "a study in how we got here, what's in store, and how we as a nation might emerge from the darkness."  The darkness refers to the economic problems facing the country of the USA and in larger part, the majority of the world over.  The author, Orest Harrison, predicts a deep recession to come that will last a decade or two to work through.  Mr. Harrison says "It's time as a nation to face the music, and face our grim fiscal reality."  He goes into depth about mortgages that have become higher than the value of the homes, bail-outs for companies, consumer debt and government debt.  At the rate described herein, one is given to believe economic collapse is imminent.

However, unlike other doom and gloom books predicting an apocalypse of the financial sector, Mr. Harrison dissects the problem and offers insight to recovery.  The biggest means of which just may be for the population of the country to cut back.  Quit living beyond their means, quit living on credit, and make whatever cuts are necessary to see a financial recovery.  This advice applies to the government and business sector too, not just the consumer.  The author states that the debt of the USA is so great that if the government were to sell all it's crown owned land, they still wouldn't break even.  So far, US's largest creditor, China, has been patient in debt recovery.  Will it remain so if and when the recession becomes full blown?

Mr. Harrison states in his final chapter, "A severely humbled nation, America emerges less influential, no longer the purveyor or world reserve currency, no longer the word's sole superpower (perhaps not a superpower at all).  America is forced to go back to her roots of sane fiscal stewardship as she emerges leaner, smarter, wiser, more mature, and a more fiscally responsible nation among nations."

Despite the economic crisis, the increased crime rate, social upheaval, soaring joblessness and homelessness; America will emerge...America will not cease to exist.  Are you listening?  Now if only those in a position to do something about it, even greater than the consumer - the governing bodies, perhaps an economic downturn won't be so stark and bleak as Mr. Harrison warns.  Is this the wake-up call?

Though this book is heavy on the gloom and doom factor, it certainly does make one ponder their own financial situation.  If this creates a desire for change and a call to action for all who read, then this book has in part achieved a great goal.  I recommend you read it.  And not just those who reside in America.  No country nor person is immune to financial collapse.

Rated 4/5

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