Buy from. Planet Ponzi — the massive build-up of debt, the total loss of political transparency — had caused multiple casualties across the world. The failure of banks, the huge rise in government debt, the failure of business, the loss of jobs, the pressure on real incomes — all these things stem from the same dark causes. In the last few weeks, democracy has taken a pasting. The new Italian government does not boast a single elected politician.
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Refresh and try again. Open Preview See a Problem? Details if other :. Thanks for telling us about the problem. Return to Book Page. Preview — Planet Ponzi by Mitch Feierstein. Planet Ponzi by Mitch Feierstein. The world economy is now approaching the final death rattle of the greatest Ponzi scheme in history: a scheme in which politicians stood by as the financial industry and sovereign governments created a vast overhang of debt, a mountain of low-quality assets - and laid the foundations for an economic disaster which will dwarf any other in history.
There are four possible out The world economy is now approaching the final death rattle of the greatest Ponzi scheme in history: a scheme in which politicians stood by as the financial industry and sovereign governments created a vast overhang of debt, a mountain of low-quality assets - and laid the foundations for an economic disaster which will dwarf any other in history.
Planet Ponzi is a provocative assessment of the state of today's global economy. Mitch Feierstein reveals the true debts of Britain, the US government and the eurozone - the full picture, not the figures the politicians would have us believe. In Planet Ponzi , Feierstein explains clearly the background to the world's worst financial crisis for seventy years, predicts the next steps in this infinitely dangerous game and offers practical advice on measures which you personally can take to protect yourself and your family.
Get A Copy. Hardcover , pages. Published February 2nd by Bantam Press first published February 1st More Details Other Editions 6. Friend Reviews. To see what your friends thought of this book, please sign up. To ask other readers questions about Planet Ponzi , please sign up. Lists with This Book. This book is not yet featured on Listopia. Community Reviews. Showing Average rating 3.
Rating details. More filters. Sort order. Start your review of Planet Ponzi. Apr 08, Jim rated it it was amazing Shelves: business , non-fiction , politics. When I consider what has happened in the financial community since the first run on Northern Rock, I am just aghast that we, Joe Public, are not down in the City tearing down the blocks of the banks in the way that the people tore down the Berlin Wall when Communism fell.
In many ways this is a pretty scary book. For those of us not involved in high finance, the combination of jargon and the size of the numbers involved is difficult to grasp. Fernstein tries to simplify things, but the size of the financial tsunami created is like trying to conceptualise the distance between the planets and stars.
Fernstein is relentless in his pessimism when he looks to the future despite his continual protesting that he is actually an optimist. Think again.
In which case you need to really, really think again. Take responsibility. Demand that your elected politicians start doing something against the vested interests of the financial community. And take steps to protect yourself financially as much as you can.
This is a sobering but always interesting read that will make you think hard about the future albeit rather pensively! Nov 19, Nick rated it it was ok Shelves: finance-business. Disappointing, good in parts but too many flaws to make it too credible. Clearly not the case. There are many other examples of either weak analysis, or statement or conclusions that are just plain wrong.
However, there are some interesting points. But most of these will not be new to people who have read around this Disappointing, good in parts but too many flaws to make it too credible. But most of these will not be new to people who have read around this subject. The scale of unfunded govt promises is indeed shocking. And some of the numbers bandied around are staggering, but that are not all plausible. Interesting to a point, but there are many other better reads about the current state of the financial world.
I'd give this a miss. Jul 11, Phillip Legard rated it really liked it Shelves: finance. A very entertaining read, if you want to enter the very plausible scenario of financial Armageddon! Unlike some authors, Mitch manages to keep his sense of humor intact throughout. The conclusions are most worrying, and really it's a race to the bottom as to which of the big currencies is going to die first. Nov 17, Juraj Mucko added it. We're doomed. Greed and deceit are not just local phenomena or attributable to individuals.
Whole countries and the whole world is living a lie. Something must break. Jun 14, Jo Murphy rated it liked it. I don't think the guy knows much about politics - but as a hedge fund manager he does understand the market. The book breaks down what he describes as Planet Ponzi - that the entire economic system is one enormous financial fraud - and that we are living in the biggest bubble in history. The book has lots of facts and figures which demonstrate quite clearly how bankrupt the US and most countries in Europe are.
Although he predicts that an entire economic collapse is the only outcome, he is positive that capitalism can only be fixed following it's complete breakdown. He does make you think that things just might be alright - but as he himself admits he takes a very conservative view. An update in basically says it's the same only worse. So in short here are the 7 pointers to identify if we are living on Planet Ponzi - 1 Rapidly mounting debt 2 Bad assets 3 Deceitful accounting 4 Toothless regulators 5 A get-rich-quick culture 6 Lazy investors 7 Self delusion.
Sound familiar? Jul 26, Scribe rated it really liked it Shelves: economics. Finished a few months back, but forgot to update. Good reading material for anyone interested in how national and personal debt are influential in the current state of the economy. As with any book like this, the later you read it the more out of date it is, but found this very accessible, and invaluable for understanding ongoing financial news stories.
Mostly US centric, with some parts touching more on UK fairly complimentary, which was refreshing anyway? A few things I found myself looking up, but most of the stuff in here is explained well and easy to get to grips with if you have an economic interest to begin with.
I waited too long- By the time I read this book 4yrs after publication much of the future projections were already known. Most were accurate though.
I enjoyed his writing style. Technical issues were explained well. The world is financially worse as predicted by the author. Brexit is upon us now. He predicted the outcome. I'm not a dooms day advocate but this took clearly explains that we have no options left that won't be painful. Mar 28, Erik van Berkum rated it really liked it. Very nice and catchy written, easy to read.
Great book with some very simple capitalist solutions in the end. Enormous amount of data to support his points. Lessons learned Too big to fail too big to exist. No more bail outs only bankruptcies please. Failure to do bankruptcies, creditors will not learn the lessons. Aug 23, Warren Gossett rated it it was amazing.
I like the author Mitch Feierstein's concept that we should be moderate in our demands and expenditures and pay our debts.
As the global economy struggles to avoid meltdown, so the greatest Ponzi scheme in history approaches its final death rattle. Politicians have stood by and watched the financial industry create a massive overhang of debt, a mountain of low quality assets - and ultimately, an economic disaster which has dwarfed all others. The Eurozone crisis and the LIBOR manipulation scandal are just two symptoms of a much broader problem: one of vastly excessive debt, regulatory failure, a culture of deceit on Wall Street and the City of London, and governments that have promised their citizens far more than they can deliver. The must-read book on the financial crisis.
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ISBN 13: 9780985036904
Mitchell B. Feierstein is a British-American investor, banker and writer. He has worked as a columnist for the Daily Mail and currently works as a columnist for The Independent and the Huffington Post. In he published his first book, Planet Ponzi , which gives his perspective of the global credit crisis. They came 5th with 1. Feierstein worked for several broker dealers and banks on Wall Street in the s and was a pioneer in liquidity of Interest rate derivative products on Wall Street in the s. He acts as a consultant for a number of governments in their disaster and contingency planning and has testified before the UK Parliament on regulation of carbon credits.