Game Over: How You Can Prosper in a Shattered Economy
by Stephen Leeb
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Book Summary Information
Author: Stephen LeebEdition: Hardcover
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2009-01-28
ISBN: 0446544809
Number of pages: 256
Publisher: Business Plus
Book Reviews of Game Over: How You Can Prosper in a Shattered Economy
Book Review: This is the book I am giving my friends
Summary: 5 Stars
Over the past 5 years I've read well over a hundred books on peak oil, the state of the world's resources, and how the world's financial systems work. As I came to understand the staggering broader implications of our resource predicament, I began looking for a single book I could give to my friends that would provide a self-contained, straightforward explanation of our dilemma. Many of the earlier books are excellent, but some of those are also very technical, others engage in wishful thinking, and still others just didn't present the information in the way I would have wished for various reasons.
"Game Over" thoroughly explains the fundamental problems facing us while sparing the reader details about oil extraction technology and similar topics. For me, the fact that it is also an investment book is secondary, although many readers may also find that useful.
I am a geophysicist with long exposure to resource-related issues. As it happens, I started studying geophysics around the same time (1970) that US oil extraction (the common euphemism is "production," as if they're actually making the stuff) peaked, just as was predicted in a 1956 technical paper by a brilliant physicist/petroleum engineer who was ridiculed for many years for that prediction - until it happened. US extraction, once the highest in the world, has been declining for nearly 40 years since then. This irreversible decline came in spite of periods of vigorous exploration for new fields and impressive advances in exploration and extraction technology. Simply put: if it's not available, you can't have it.
In the 70s following the US peak, we speculated about what might happen when world oil extraction began to decline but it was all theoretical and far in the future and just an intriguing idea. Now the evidence strongly suggests that the world peak is at last near; there is some evidence we are there now, in spite of the recently crashing oil price. The US extraction decline only became obvious in retrospect and the same will be true for world decline.
I cannot overstate the importance of this issue. There are excellent reasons to believe that the peak in oil extraction will also mean the peak in food production, a frightening thought in a world with a huge and growing population, many already living with the specter of starvation. Also, the irreversible decline in the extraction of oil and other critical resources will likely bring an end to capitalism as we know it because a positive sum game will have become a negative sum game. Getting from that realization to a system that is sustainable on a finite and damaged world will be a very tough slog. "Game Over" provides the background to understand these things.
Leeb is well qualified to explain these issues; he has degrees in economics, mathematics, and psychology; he is rational, understands markets, and understands why people are psychologically resistant to acknowledging the approaching disaster let alone dealing with it, and he presents all of that clearly in this book. This is at least his third book in the series following "The Oil Factor," then "The Coming Economic Collapse." You can see a trend in the titles and the predictions he made in those earlier books have pretty much become reality.
I know there are a thousand disaster scenarios circulating through the blogosphere so it's easy to dismiss this as just one more. Before doing that, please look into it carefully. Remember the simple rule: if it's not available you can't have it.
One fact worth noting: discussion of this issue has reached the point where even most of the economists and oil company executives who ridiculed the whole idea of peak oil five years ago now admit it is real, so the argument now is more often about the shape of the peak and whether we've already reached it or not.
By the way, a great video of an easily understood explanation of how we got here by a physicist, Dr. Albert Bartlett, is available on the web at globalpublicmedia. If you're new to these concepts I urge you to gain strength through knowledge. View the video, read "Game Over" and you'll have a good understanding of the background and some thoughts about what can be done to prepare individually and as a society.
Summary of Game Over: How You Can Prosper in a Shattered Economy
You already know about the devastating recession we're in. Jobs are being cut by the tens of thousands. Real estate values are plummeting. Retirement plans and 401ks are going up in smoke. And then there's rising inflation. And whether we like it or not, higher gasoline prices again are right around the corner.Then there's the ever-present confusion and dips in the stock market, and, whether we want to admit it or not, the fact that the world is finally beginning to run out of essential raw materials, such as silver, titanium, and, of course, oil.
Yes, the economy is definitely a wreck. Even worse, according to most experts, our problems are not going away soon. We're going to be in serious financial trouble for a long time.
So . . . are you ready for some good news?
As you will discover in GAME OVER, bestselling author and investment advisor Dr.
Dr. Leeb first tells you just how bad things are by exposing the basic suppositions of our institutions, and how quickly outdated they've become. Warning bells are sounding especially for Americans looking forward to a relaxing retirement and living off their savings, investments, Social Security, and Medicare. The time to sit up and take action is now.
Dr. Leeb provides a clear-cut and well-crafted financial road map to protect every investor in the years to come. Specifically, he reveals which key investments will steadily rise . . . the best ways to hedge surging inflation . . . and which sectors will boom.
Many will lose their savings, watch their investments shrink, and never fulfill their financial dreams. But with Dr. Leeb's advice, you can make sure yours come true.
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