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(Hardcover)
In When Giants Fall, Panzner makes his case for the turbulent economic changes that will be occurring over the next few years and examines the resulting economic opportunities.
According to Panzner, the economic changes will be widespread. Businesses will struggle amid wars, shortages, logistical disruptions, and a breakdown of the established monetary order. Individuals will be forced to rethink livelihoods, lifestyles, living arrangements, and locales. Political structures will be in flux, as local leaders gain influence at the expense of national authorities. For many people, it will be nothing short of a modern Dark Ages, where each day brings fresh anxieties, unfamiliar risks, and a sense of foreboding.
However, for those enlightened few who understand what is really going on and what happens next, the chaotic years ahead represent the opportunity of a lifetime - a time when they can realize goals they never thought possible and achieve a level of wealth, security, and inner peace that will leave them head-and-shoulders above everyone else. In this book, Panzner offers cutting-edge insights and strategies that will enable readers to stay well ahead of the game during the uniquely unsettling period ahead.
Michael J. Panzner is a twenty-five-year veteran of the global stock, bond, and currency markets. During his career, he has worked in New York and London for leading companies such as HSBC, Soros Funds, ABN AMRO, Dresdner Bank, and JPMorgan Chase. He is an FT Knowledge/New York Institute of Finance faculty member specializing in equities, trading, global capital markets, and technical analysis, and is the author of Financial Armageddon. Visit Panzner at www.economicroadmap.com.
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June 29, 2009: Books about the future usually mix and match four broad categories: The present is great or awful, and the future will be great or awful. This book builds on the awful end of today's economic problems. Michael J. Panzner reinforces the seesawing anxiety some people already feel about America and the future by contending that these dreary times will almost certainly worsen. People have been selling books about America's demise for decades and maybe one of them will be right someday, but this one is pretty dire. getAbstract admires Panzner's diligence and hard work, but notes that he offers few, if any, mitigating beds of roses to brighten his forecast. Instead, he blends generally negative economic, ecological, demographic and geopolitical news to project a downward trend that would scare even the most daredevil economic rollercoaster rider. Trends that harm America are likely to injure many other nations also, so some positive, mutual pushback seems inevitable, though Panzner cites instead how other nations would benefit from a weaker U.S. Given the reporting on negative trends and dangers he amasses to explain his pessimism, it would be no wonder if Panzner is depressed. If he's right, there will be plenty of depression to go around.
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March 23, 2009: This book paints a very stark picture of the trends facing America, of the waning influence our country once enjoyed and the negative consequences staring our people in the face as our global hegemony declines. Panzner has followed today's headlines to some very (unfortunately) logical ends. It is was interesting to compare this book with Fareed Zakaria's The Post American World which was written in the still growing world economy. Zakaria comes off looking like the eternal optimist in comparison to Panzner.
Sometimes the book gets a bit slow as he seeks to document and footnote every single assertion, but the process adds weight to his arguments. What I found most compelling was the part of the book that dealt with "De-globalization" and the fracturing of trade, treaties and the general cooperative spirit that a global economy seemed to be fostering and how it all stands to be replaced with regional conflict, protectionism, nationalism, racism, and contracted diplomacy, all things that seemingly have trended upward lately. While the validity of Panzner's arguments won't be completely revealed until we transition through the coming decade, books like his are important because they reveal how some of these scenarios could play out in a quickly changing world. Whether he is ultimately right or wrong, he has held up a mirror to many American policies, prejudices and worldviews to show us things we probably didn't want to see.I Also Recommend: The Extreme Future.