Empire of Debt
Dear Reader,
We couldn’t have said it any better ourselves.
On the day that we rushed 537 copies of this book to Washington, USA Today ran a staggering cover story quoting David Walker, the nation’s comptroller general:
“The United States can be likened to Rome before the fall of the empire. Its financial condition is ‘worse than advertised,’ [Walker] says. “It has a ‘broken business model’. It faces deficits in its budgets, its balance of payments, its savings — and its leadership.”
Welcome to the Empire of Debt, folks.
“Now maybe someone will finally listen,” says Jim Rogers, author of the best seller Adventure Capitalist, about the book we’re rushing to Washington.
We sent a copy to every senator and representative in Congress — all 535 of them. And one more each to the White House and the Federal Reserve. Why? The government’s massive debt — and delusions — are about to change your life forever… and soon.
That’s why the prestigeous Economist Magazine named it one of the top 10 must-read books of 2005–2006. Will it make a difference if we send the book to Washington? We can only hope so… But at the personal level, this book is a wake-up call — as well as a call to arms to every American.
“Although the authors don’t claim to have a crystal ball,” writes Doug Casey, author of the best selling Crisis Investor, “as far as I’m concerned, they offer as clear and likely accurate a view of the future as you’re going to find.”
Empire of Debt is filled with the latest economic research from two internationally famous authors, Bill Bonner and Addison Wiggin. And what it finally uncovers is the whole secret story of how and why America has put itself into the worst financial crisis since 1929. And more importantly, how you can protect yourself and your assets from this crisis.
“If you value your financial health,” says Casey, “you’ll read it from cover to cover. Now!”
“I strongly advise you not to miss the stunning truths exposed in this remarkable work,” says Robert Ringer, author of Action! Nothing Happens Until Something Moves.
Every hour of every single day, the United States racks up another $80 million of debt. The renowned Levy Institute estimates that the United States will owe foreigners $8 trillion by 2008 — a breathtaking 60% of our gross domestic product.
Just think about it: $6 out of every $10 that you and I earn in America will go to pay off a loan in China or Japan or South Korea or the rest of Asia. That’s the kind of mortgage nobody can afford, including you, me, the U.S. government and our kids.
A year ago, the annual deficits already hit $7 trillion, according to the U.S. comptroller. That’s roughly $24,000 the government owes for every American man, woman and child.
It’s money that’s coming out of your pocket, and I’m not just talking taxes…but also from higher gas prices, food bills, even college tuition. And be assured, Uncle Sam has no intention of paying you back.
Worse yet, the man in the striped suit and tall hat is already asking for more…
Up until now, there’s been little you could do to protect your wealth, your retirements and your way of life…
Inside Empire of Debt, you’ll discover the specific steps you can take to protect yourself from the massive debt buildup and the secret funneling away of your funds.
Don’t be caught off guard.Empire of Debt shares the five things you must do now to protect yourself — including buying the one investment you cannot live without. (If it’s not already in your portfolio… you need to get it right away.)
Empire of Debt may well be the most important reading you’ll do in the next five years during this period of unrelenting crises.
Many Americans have no idea what’s coming. They’ve been blinded by “The 10 Delusions of Empire” that Bonner and Wiggin reveal… it’s those deceptions that the government has promulgated that have created the destructive, imperial attitudes that so many have come to believe. You see, there’s a cadre of “imperial citizens” that can’t imagine this Empire of Debt will ever end.
They’re about to learn how wrong they are…
“Whether you’re an investor, businessperson or just someone who is sincerely concerned about the fate of both your money and your country,” says Robert Ringer, “I strongly advise you not to miss the stunning truths exposed in this remarkable work.”
Don’t get me wrong. As Eric Fry, editor of The Rude Awakening says, “Empire of Debt is not for everyone, only for those of us who hope to enjoy continuing prosperity amidst difficult conditions.”
“Americans believe they can get rich by spending someone else’s money”, say the authors of the book. “They believe they can run up debt forever, and that their debt-laden houses are as good as money in the bank. That is what makes the study of contemporary economics so entertaining. We sit at our telescopes and laugh like a divorce lawyer looking at photos of a rich man in flagrante delicto; we know there’s money to be made.”
Bonner and Wiggin wrote Empire of Debt to warn you of the danger and give you a clear path to profits. They give you the knowledge you need to protect yourself — and prosper — as the American empire flails upon itself.
Empire of Debt details how the government’s irresponsibility has bled into society. Following the government’s lead, Americans have felt free to spend, spend, spend — putting themselves in deeper and deeper debt.
Today, the average American household has $8,000 in credit card debt.And for every $19 Americans earn, they spend $20. For the first time in history, in July and September of this year, the savings rate of Americans dipped into negative numbers. Compare that to China’s 25% savings rate, and you can see the looming danger as China buys up your future with cash to burn.
As CNN reported, “The American consumer has become deeply addicted to spending, running up ever higher levels of debt in order to live in a fashion that is beyond his means. And the world hasbecome equally addicted to the consumer continuing to burn through cash.”
By mid-2005, nearly 50% of homes were purchased with interest-only mortgages — compared to 5% in 2001.“Empire of Debt is a wake-up call for all investors,” says Dow Jones MarketWatch.com columnist Kevin Kerr. “Bonner and Wiggin masterfully illustrate why we should all take a much closer look at what our future holds…”
“Instead of trade and work,” says Llewellyn H. Rockwell Jr., president, Ludwig von Misses Institute, “ Imperialism breeds militarism, inflation and debt, as Bonner and Wiggin show. Yet there is a golden hope in freedom and honest money.”
Even if you’ve been smart and responsible and kept yourself out of debt, you could still be burned by other people’s extravagant spending.Empire of Debt shows you how and why this can happen to your estate. And it details the steps you can take to get out of harm’s way, lest your neighbor trample your capital.
Bonner and Wiggin have been calling it like it is for some 20 years. As president of Agora, Bonner oversees The Daily Reckoning, a financial commentary with over 500,000 readers worldwide. Wiggin, editorial director and publisher of The Daily Reckoning, is a regular on hundreds of radio and television programs.
Their penetrating insights on the economy shot their first book, Financial Reckoning Day, to No. 1 on the New York Times best-seller list. As Jim Davidson, author of The Sovereign Individual, said “Financial Reckoning Day…is something to be savored and enjoyed — before it’s too late.” Martin Weiss, author of the best-selling Crash Profits, called it “a powerful and insightful vision.” Wiggin is also the author of Demise of the Dollar — a New York Times best-seller. New York Times Magazine says, “Wiggin offeres up his analysis with a confident and steady aplomb. And for good reason.”
In fact, those who read the advice in this book will learn how to sidestep four critical pitfalls destined to undermine many less-savvy Americans. You’ll learn what to do when:
Housing prices lose their value, sucking away your assets…
Domestic savings and capital investments hit all-time lows early in 2006…
The U.S. can no longer export its manufactured goods…
We’re stuck with the bill for out-of-control spending.
Throughout history, every empire has found a way to pay for its expansion. Yet today, politicians have a different mantra:Instead of “we came, we saw, we conquered,” it’s “we came, we saw, we borrowed.”
We believe it’s imperative for the bigwigs in Washington to read Empire of Debt.
Will they read it? Maybe. Will they change? Probably not. History shows that government is much better at creating problems than solving them. But by sending 535 copies to every member of the Senate and the House of Representatives — and one each to the White House and Fed— we’re pursuing our cause to make the facts known and the solutions abundant.
Empire of Debt may well be the most important book you, your friends and your family are likely to read this year…
With just a few simple steps, you can prepare your portfolio to weather the coming crisis. Empire of Debt will show you everything you need to know. And if you act now, you can get your own copy of Empire of Debt for just $11.53 in paperback. That’s a full 36% off the cover price, click below to order today.
It’s the best way to prepare yourself, your family and friends, for what could be a prolonged period of financial crisis… one that’s on path to make the 1929 crash look mild by comparison.
We believe Empire of Debt, for less than $18, is the most important financial purchase you can make this year, more important than any stocks or index funds you can find.
After reading it, I’m sure you’ll agree.
Sincerely,
Mike Ward
Publisher, Agora Books
P.S. Will members of Congress read it? Maybe. They might even agree with these readers who say…
“A true tour de force and an engaging read. Well worth the money for not only your personal enrichment, but to encourage the authors to write again!!” — M. Kelly (Albuquerque, NM)
“Empire of Debt is probably the most important history book you will ever read. It puts the two great world wars, the Vietnam war, the Cold war, and the war in Iraq in a historical perspective that I’ve never seen anywhere else.” — Dan Brown (Madison, AL)
“If you only read one chapter… turn to page 261 and read the section titled ‘Something Wicked This Way Comes’. It will be the most eye-opening 11 pages you read all year.” — J. Boric (Bloomington, IN)
Empire of Debtshows the one investment right now that’s the ultimate “debt hedge,” which can save you thousands in the coming months. Don’t miss out on this important investing advice most others will regret missing out on.
