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Summary

A Wall Street Journal and National Best Seller!

The man who predicted the worst economic crisis in US history shows you how to survive it.

The current crisis is not like 2008 or even 1929. The New Depression that has emerged from the COVID pandemic is the worst economic crisis in US history. Most fired employees will remain redundant. Bankruptcies will be common, and banks will buckle under the weight of bad debts. Deflation, debt, and demography will wreck any chance of recovery, and social disorder will follow closely on the heels of market chaos. The happy talk from Wall Street and the White House is an illusion. The worst is yet to come.

But for knowledgeable investors, all hope is not lost.

In The New Great Depression, James Rickards, New York Times best-selling author of Aftermath and The New Case for Gold, pulls back the curtain to reveal the true risks to our financial system and what savvy investors can do to survive - even prosper - during a time of unrivaled turbulence. Drawing on historical case studies, monetary theory, and behind-the-scenes access to the halls of power, Rickards shines a clarifying light on the events taking place, so investors understand what's really happening and what they can do about it. 

A must-listen for any fans of Rickards and for investors everywhere who want to understand how to preserve their wealth during the worst economic crisis in US history.

©2020 James Rickards (P)2020 Penguin Audio

Critic reviews

“Rickards...makes the important point that depressions are as much psychological as numeric.... Intriguing policy recommendation...sound advice to investors on how to structure a portfolio to deal with both the threat of deflation and inflation...a bracing collection of salvos...with many genuine insights, which make it an enjoyable book to argue with. Let’s just hope that the next 30 years are less bleak than Mr Rickards expects.” (The Financial Times)

What listeners say about The New Great Depression

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Not worth the read

Jims covid analysis is shallow, leaving questions and the rest doesn't add much worth reading

3 people found this helpful

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Nothing much new here

This is a bland take by Jim Rickards. If you've followed his previous works, this is underwhelming. However, if it's your first Rickards book, you may find it useful.

3 people found this helpful

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Gold bullion coins and bars.

I feel sorry for every family that doesn't own gold right now. without gold in one's portfolio is asking begging to become destitute in the coming months/years.

2 people found this helpful

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Waste of Time.

I thought It would have example and good advice of what to do in the coming recession but it alit of talking and nothing useful.

1 person found this helpful

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Covid

Too much statistic covering Covid, and too little solutions on this topic. It is covering a lot of historical data.

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Already alot of the stuff predicted not true

Pessimistic and never once mentions cryptocurrency, $1.6T of investment completely ignored. Some nice stories and well researched on covid but hard to see all these calls coming to pass.

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Too predictable

The audiobook is just going through many known facts on the pandemic, sometime diving into subjects for which Mr. Rickards is not an expert and is basing his opinion mostly on articles he read. It might be useful for someone that has been disconnected from the world, but not so useful as the title suggests.

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Dissapointing

A Boring badly put together depressing read , and too much centered on the cv19 virus. If I wanted to read about the virus I would have looked to an expert. But this was used as a filler to make the book longer in my opinion. Never again read anything from this guy .

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Well at least an opinion

In parts good. Not so sure if an economist should do epidemiology, especially one that protests that epidemiologists shouldn't do economy. Forgot to mention crypto as an asset class, even if he would reject it. Very America centred. Written before Nov 2020. A book to early.

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Absolute rubbish avoid at all cost

Neo con libertarian propoganda....worse than bad, pure nonsense from start to finish....very dangerous book as sounds academic enough but very economical with any other views !!!!! AVOID AVOID AVOID

1 person found this helpful

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Profile Image for Michael Solano
  • Michael Solano
  • 13-01-21

In short

In short, the stock market hasn't bottomed, the fed is out of options, and buy gold now because it's going to 10K; then after that, buy cheap real estate because that market is going to crash too.

38 people found this helpful

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  • minhaj khaled
  • 13-01-21

The new Great Depression review

This book gives a history lesson on the pandemic barely touches on how to navigate and manage your finances through the poast pandemic world.

10 people found this helpful

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  • Marisol Valdez
  • 15-01-21

Great insight!

It’s not about left or right. It’s about setting yourself and love ones up for success in a post pandemic depression environment. Knowledge is power.

9 people found this helpful

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  • Joni Butler
  • 15-01-21

Another great book

Another insightful and enjoyable book from James Rickards. If this is the first time you’ve come across this author, then go for it, it’ll only want to make you read the rest! The topic is not one of joy and prosperity, but it is one of reality! Rickards gets to the point which I feel most commentators or authors are afraid of today, especially on this topic. This is not a political review of the Covid-19 pandemic or how it was handled by the US and every other nation, but does an excellent job of describing those actions and the consequences on the economy.

We know the economy isn’t doing well, we all feel it, but understanding why is the key, and this book does a good job of explaining the details. Rickards knows what he talking about and isn’t afraid to say it as it is, there is no agenda here. If you are looking for an insightful view on the last year and how you may preserve wealth going forward then read this book.

8 people found this helpful

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  • Michael Conn
  • 13-01-21

Awesome economic analysis

Fantastic actionable economic analysis. Lots of actionable investment ideas in the later third of the book.

If you are an active investor this is a must read. If you’re not an active investor Jim will convince you to become one here.

7 people found this helpful

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  • MikeyonPC
  • 27-01-21

Read this, then go back & read it again!

I've been waiting for this book since July 2020, this book clearly focuses on pandemics & economic tragedies, but one key thing you'll learn is that pandemics DON'T cause recessions or depressions, only foolish responses by governments do.

It truly isn't until the last chapter that James goes over what are sound & smart investment strategies to not only preserve wealth but prosper, & of course he talks about Gold.

By the way don't listen to the people who claim this book is bad, James Rickards has studied this his whole life & even predicted this "pandemic" we're in, don't be someone who thinks they're too smart for solid advice.

4 people found this helpful

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  • jkan
  • 03-02-21

Book starts at Chapter 6

Huge fan of Richard's but this book was a waste of my time. First 5 chapters were a waste and basically fear mongering about this COVID virus. This book's thesis could have summed up in 5 lines, just read the conclusion.

3 people found this helpful

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  • Amazon Customer
  • 03-02-21

another James Rickard s book. buy gold or buy gold

buy gold or buy gold. and hold a little cash and a little equities and a little real estate

3 people found this helpful

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  • Hawaiian Kava
  • 24-01-21

Nothing more compelling than author's own voice!

Like frogs in a pot of water just warming up, unless you jump, you will surely die. Reality matters more than perception in the end. Rickard provides the framework for you to understand and take action.

3 people found this helpful

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  • Jared Irish
  • 17-01-21

Amazon sure to censor or ban this book

communist Amazon not going to like this book. sure to block and take it down since it is against their fascist views

3 people found this helpful