A difficult read, 08 Nov 2008
I found this very hard to get through - probably because I probably am one of those pro-business zealots.
Just reading the introduction will give you a very good idea of the book to come:- polemics against evil business; weak, poorly argued points built on data that don't always support the point; and breathless repetition of the same arguments and the same polemics. For someone not brought up on Marxist economics, it all gets very tiring and tiresome.

But there is value here. While most people reading the book will know about Japan's deflationary problems in the '90s, it is useful to have it told again in reasonable detail. And the sections on global capital flows are interesting and provoke thought.

But in the end I was convinced neither that the author's reading of the credit crunch was useful or correct, nor that he had any useful answers. It may just be my zealotry clouding my reading, but I think there are better and more useful books on the subject.

Credit Crunch, 17 Oct 2008
I found this in an incredibly informative and insightful book about the present economic situation. It makes sense - though I am sure that some aspects of the book are controversial. The author challenges the reader to consider the origins of the credit crunch. The roots are found in free trade and the endless cost cutting pursuits of large corporations in advanced nations who are preoccupied with driving down costs in order to inflate their bottom line; hence the burgeoning trend towards outsourcing to low waged economies. But that is just the start. The book is highly comprehensive and readable.

Informative, insightful and thought provoking, 14 Jul 2008
The outline in the Amazon `product description' above is a fair summary, but it should be stressed that there is nothing sensational or overtly political about this book. It tries to be a reasoned economic assessment of our current plight, although doubtless it will upset some `free market' and `pro-business' zealots. It is a very timely and its predictions seem to be being born out - for example on page 191 we read `the US Treasury .... will be forced to act, rescuing more banks by injecting public sector capital and, ultimately, taking many into public ownership'. I write this on the same day that the US Treasury has proposed to provide as much support as is required to `Fanny May' and `Freddie Mac' and a couple of days after the Californian bank Indy Mac was nationalised.

Some may consider that the two chapters that discuss what happened to Japan after its speculative bubble went bang in 1990 have their longeuers. However, they give us some insight into how difficult it is to get out of a post bubble slump - particularly given the mindsets of economists and central bankers - and what we might have to look forward to (not a lot if Japan is anything to go by).

This book should be readily understood by anybody with an interest in economic and political affairs. There are lots of clear and very informative graphs and not too much heavy economic theory. It explains a lot but is hardly cheering - perhaps Gordon Brown (of whom the author has remarked elsewhere [Spectator Business website] `I think he will go down as the worst Chancellor in history') has seen a copy - it would explain his current demeanour!

In Conquer the Crash, Robert Prechter explains why he thinks the boom times are behind us. Based on his interpretation of the Elliott Wave Principle (an idea premised on the notion that mass investor psychology is what really drives markets), Prechter argues that the economy is about to enter into a deflationary depression that few investors are prepared to deal with. In making his case, he assembles an impressive array of data that in essence suggests that the bill for the last 10 years of market excess is about to come due. The second half of the book shows how to avoid becoming "a zombie-eyed victim of the depression" and offers advice on protecting one's assets in a deflationary environment (cash is king). If there's any good news in the future that Prechter sees coming (other than how to avoid it), it's that all-out depressions don't last very long. Conquer the Crash should appeal to all investors, particularly those desperately looking for a safe haven from the uncertainties of today's markets. --Harry C Edwards

A difficult read, 08 Nov 2008
I found this very hard to get through - probably because I probably am one of those pro-business zealots.
Just reading the introduction will give you a very good idea of the book to come:- polemics against evil business; weak, poorly argued points built on data that don't always support the point; and breathless repetition of the same arguments and the same polemics. For someone not brought up on Marxist economics, it all gets very tiring and tiresome.

But there is value here. While most people reading the book will know about Japan's deflationary problems in the '90s, it is useful to have it told again in reasonable detail. And the sections on global capital flows are interesting and provoke thought.

But in the end I was convinced neither that the author's reading of the credit crunch was useful or correct, nor that he had any useful answers. It may just be my zealotry clouding my reading, but I think there are better and more useful books on the subject.

Credit Crunch, 17 Oct 2008
I found this in an incredibly informative and insightful book about the present economic situation. It makes sense - though I am sure that some aspects of the book are controversial. The author challenges the reader to consider the origins of the credit crunch. The roots are found in free trade and the endless cost cutting pursuits of large corporations in advanced nations who are preoccupied with driving down costs in order to inflate their bottom line; hence the burgeoning trend towards outsourcing to low waged economies. But that is just the start. The book is highly comprehensive and readable.

Informative, insightful and thought provoking, 14 Jul 2008
The outline in the Amazon `product description' above is a fair summary, but it should be stressed that there is nothing sensational or overtly political about this book. It tries to be a reasoned economic assessment of our current plight, although doubtless it will upset some `free market' and `pro-business' zealots. It is a very timely and its predictions seem to be being born out - for example on page 191 we read `the US Treasury .... will be forced to act, rescuing more banks by injecting public sector capital and, ultimately, taking many into public ownership'. I write this on the same day that the US Treasury has proposed to provide as much support as is required to `Fanny May' and `Freddie Mac' and a couple of days after the Californian bank Indy Mac was nationalised.

Some may consider that the two chapters that discuss what happened to Japan after its speculative bubble went bang in 1990 have their longeuers. However, they give us some insight into how difficult it is to get out of a post bubble slump - particularly given the mindsets of economists and central bankers - and what we might have to look forward to (not a lot if Japan is anything to go by).

This book should be readily understood by anybody with an interest in economic and political affairs. There are lots of clear and very informative graphs and not too much heavy economic theory. It explains a lot but is hardly cheering - perhaps Gordon Brown (of whom the author has remarked elsewhere [Spectator Business website] `I think he will go down as the worst Chancellor in history') has seen a copy - it would explain his current demeanour!


USELESS, 11 Dec 2007
THIS BOOK IS COMPLETELY USELESS. ALL THE PEOPLE WHO PRAISE THE BOOK, INSIDE THE FIRST FEW PAGES, TURN OUT TO BE PRECHTER'S PARTNERS. THEY ALL GET RECOMMENDATIONS FOR THEIR BUSINESSES LATER IN THE BOOK !!! EACH TIME SOMEONE BUYS ONE OF HIS BOOKS PRECHTER IS LAUGHING ALL THE WAY TO THE BANK.

We're still waiting, 08 Apr 2006
Prechter must be thanked for bringing Elliott's Wave Principle to the world and educating a generation of Elliott Wave disciples; but there's a world of difference between being a great theoretician and being a source of well-timed financial advice.

Prechter has been doomy with such reliability, and for so long (1987, 1995, 1998, and 2000 to date) that at SOME point he will be entitled to say "see, I told you so", but no matter how intellectually dazzling his commentary is, the markets do not exist to prove Prechter right and the results of following his trading forecasts (i.e. being monster short of Stocks, Treasury Bonds and Gold) have SO FAR been strongly negative. If the average person followed his advice and sold his house and all his stocks, he would not have experienced financial harm, but instead would have been on the side-lines for the biggest up-moves in stocks and real estate in the whole of human history. So we must tread with caution regarding the timing of Prechter's calls. That's not to say they're valueless, but we must be careful nonetheless.

It's my belief, as a follower of my own home-grown variant of the Wave Principle, that there is SOMETHING to it, but that it has to be used carefully. Further, I believe that if you know the Wave Principle, you know people. And thus, if you know people, you know that SOMEONE out there is going to freak out and short everything they can, and lose themselves a fortune.

The point of this review is therefore not to be negative, but to add some RESPONSIBLE advice that should be be included in this otherwise brilliantly researched and eloquent book. The advice is: read the analysis, note the conclusions but REMEMBER THAT THE "GRAND SUPERCYCLE" IS UNPROVEN AND MAYBE DOES NOT EXIST AT ALL. I would also note that much of his analysis is based on the idea of "mean reversion", i.e. that markets for whatever reason always tend back to some form of average metric. Mean reversion, when it occurs, tends to happen by chance, not compulsion, so also bear in mind that just because things are "out of whack", it doesn't mean they're just about to snap back because you read this book. Perhaps the internet really did change things for good - we certainly don't know for sure one way or the other.

Ultimately the successful practice of the Wave Principle relies very much on the judgement of the analyst, despite perhaps giving the appearance that it is an exact science. There is a big difference between being a responsible analyst and producing horrifying nerve-jangling research. Never forget that Prechter is a superb theoretician and sometimes not a bad analyst, but no more - and note that he has said on the public record that he rarely trades.

This book is probably a "must read", but must be referred to wisely. So don't freak out, don't panic, keep this forecast somewhere in your mind and continue to invest wisely and carefully.

I hope that these words might save some people out there a lot of money.

Get Real, 08 Nov 2005
This book could save you from the certain financial and geo-politcal trouble ahead and set you up for a brighter future.

Well written by a man who has done his research and lives by it.

Scary, Meaty, and Easy-to-Read, 05 Aug 2003
This review is one of the most difficult I’ve ever written. This book is packed full of useful information, written in language that you don’t have to be a financial analyst to understand. It is aimed at the ordinary person.

The book explains when and how deflation and depression are likely to occur. The book’s thesis is that we are approaching one of those times. The first half of the book is dedicated to WHY deflation and depression are likely to occur soon, while the second half of the book tells you very specifically what you can do about it.

My difficulty in writing this review stems from not being able to say whether or not I agree with his advice. I bought this book sight unseen, just on the author’s name. In the early 1980’s, I was a stockbroker, and remember Precher’s forecasts being quite unpopular in the investment community, yet uncannily accurate. After reading the book, I feel he has said some REALLY important things here, yet still find myself unable to act on the advice. Reading this book has kept me awake at night, worrying, for six months. The jury’s still out…….you’ll have to read his book and decided for yourselves. Nevertheless, I want to make clear that I DO HIGHLY recommend this book, as it gives you a lot of meat to think about, as he really backs up what he is saying.

Conquer the crash, 22 Jan 2003
A fairly well written book, would be a good starting point to the Elliott Wave principle. I read the Elliott wave priciple book first and found it hard going. This book does not go as heavey into the technical stuff, and is written in a easier style. I read it purely for to educate myself more on Elliott, but I actually found parts of it fascinating.

A difficult read, 08 Nov 2008
I found this very hard to get through - probably because I probably am one of those pro-business zealots.
Just reading the introduction will give you a very good idea of the book to come:- polemics against evil business; weak, poorly argued points built on data that don't always support the point; and breathless repetition of the same arguments and the same polemics. For someone not brought up on Marxist economics, it all gets very tiring and tiresome.

But there is value here. While most people reading the book will know about Japan's deflationary problems in the '90s, it is useful to have it told again in reasonable detail. And the sections on global capital flows are interesting and provoke thought.

But in the end I was convinced neither that the author's reading of the credit crunch was useful or correct, nor that he had any useful answers. It may just be my zealotry clouding my reading, but I think there are better and more useful books on the subject.

Credit Crunch, 17 Oct 2008
I found this in an incredibly informative and insightful book about the present economic situation. It makes sense - though I am sure that some aspects of the book are controversial. The author challenges the reader to consider the origins of the credit crunch. The roots are found in free trade and the endless cost cutting pursuits of large corporations in advanced nations who are preoccupied with driving down costs in order to inflate their bottom line; hence the burgeoning trend towards outsourcing to low waged economies. But that is just the start. The book is highly comprehensive and readable.

Informative, insightful and thought provoking, 14 Jul 2008
The outline in the Amazon `product description' above is a fair summary, but it should be stressed that there is nothing sensational or overtly political about this book. It tries to be a reasoned economic assessment of our current plight, although doubtless it will upset some `free market' and `pro-business' zealots. It is a very timely and its predictions seem to be being born out - for example on page 191 we read `the US Treasury .... will be forced to act, rescuing more banks by injecting public sector capital and, ultimately, taking many into public ownership'. I write this on the same day that the US Treasury has proposed to provide as much support as is required to `Fanny May' and `Freddie Mac' and a couple of days after the Californian bank Indy Mac was nationalised.

Some may consider that the two chapters that discuss what happened to Japan after its speculative bubble went bang in 1990 have their longeuers. However, they give us some insight into how difficult it is to get out of a post bubble slump - particularly given the mindsets of economists and central bankers - and what we might have to look forward to (not a lot if Japan is anything to go by).

This book should be readily understood by anybody with an interest in economic and political affairs. There are lots of clear and very informative graphs and not too much heavy economic theory. It explains a lot but is hardly cheering - perhaps Gordon Brown (of whom the author has remarked elsewhere [Spectator Business website] `I think he will go down as the worst Chancellor in history') has seen a copy - it would explain his current demeanour!


USELESS, 11 Dec 2007
THIS BOOK IS COMPLETELY USELESS. ALL THE PEOPLE WHO PRAISE THE BOOK, INSIDE THE FIRST FEW PAGES, TURN OUT TO BE PRECHTER'S PARTNERS. THEY ALL GET RECOMMENDATIONS FOR THEIR BUSINESSES LATER IN THE BOOK !!! EACH TIME SOMEONE BUYS ONE OF HIS BOOKS PRECHTER IS LAUGHING ALL THE WAY TO THE BANK.

We're still waiting, 08 Apr 2006
Prechter must be thanked for bringing Elliott's Wave Principle to the world and educating a generation of Elliott Wave disciples; but there's a world of difference between being a great theoretician and being a source of well-timed financial advice.

Prechter has been doomy with such reliability, and for so long (1987, 1995, 1998, and 2000 to date) that at SOME point he will be entitled to say "see, I told you so", but no matter how intellectually dazzling his commentary is, the markets do not exist to prove Prechter right and the results of following his trading forecasts (i.e. being monster short of Stocks, Treasury Bonds and Gold) have SO FAR been strongly negative. If the average person followed his advice and sold his house and all his stocks, he would not have experienced financial harm, but instead would have been on the side-lines for the biggest up-moves in stocks and real estate in the whole of human history. So we must tread with caution regarding the timing of Prechter's calls. That's not to say they're valueless, but we must be careful nonetheless.

It's my belief, as a follower of my own home-grown variant of the Wave Principle, that there is SOMETHING to it, but that it has to be used carefully. Further, I believe that if you know the Wave Principle, you know people. And thus, if you know people, you know that SOMEONE out there is going to freak out and short everything they can, and lose themselves a fortune.

The point of this review is therefore not to be negative, but to add some RESPONSIBLE advice that should be be included in this otherwise brilliantly researched and eloquent book. The advice is: read the analysis, note the conclusions but REMEMBER THAT THE "GRAND SUPERCYCLE" IS UNPROVEN AND MAYBE DOES NOT EXIST AT ALL. I would also note that much of his analysis is based on the idea of "mean reversion", i.e. that markets for whatever reason always tend back to some form of average metric. Mean reversion, when it occurs, tends to happen by chance, not compulsion, so also bear in mind that just because things are "out of whack", it doesn't mean they're just about to snap back because you read this book. Perhaps the internet really did change things for good - we certainly don't know for sure one way or the other.

Ultimately the successful practice of the Wave Principle relies very much on the judgement of the analyst, despite perhaps giving the appearance that it is an exact science. There is a big difference between being a responsible analyst and producing horrifying nerve-jangling research. Never forget that Prechter is a superb theoretician and sometimes not a bad analyst, but no more - and note that he has said on the public record that he rarely trades.

This book is probably a "must read", but must be referred to wisely. So don't freak out, don't panic, keep this forecast somewhere in your mind and continue to invest wisely and carefully.

I hope that these words might save some people out there a lot of money.

Get Real, 08 Nov 2005
This book could save you from the certain financial and geo-politcal trouble ahead and set you up for a brighter future.

Well written by a man who has done his research and lives by it.

Scary, Meaty, and Easy-to-Read, 05 Aug 2003
This review is one of the most difficult I’ve ever written. This book is packed full of useful information, written in language that you don’t have to be a financial analyst to understand. It is aimed at the ordinary person.

The book explains when and how deflation and depression are likely to occur. The book’s thesis is that we are approaching one of those times. The first half of the book is dedicated to WHY deflation and depression are likely to occur soon, while the second half of the book tells you very specifically what you can do about it.

My difficulty in writing this review stems from not being able to say whether or not I agree with his advice. I bought this book sight unseen, just on the author’s name. In the early 1980’s, I was a stockbroker, and remember Precher’s forecasts being quite unpopular in the investment community, yet uncannily accurate. After reading the book, I feel he has said some REALLY important things here, yet still find myself unable to act on the advice. Reading this book has kept me awake at night, worrying, for six months. The jury’s still out…….you’ll have to read his book and decided for yourselves. Nevertheless, I want to make clear that I DO HIGHLY recommend this book, as it gives you a lot of meat to think about, as he really backs up what he is saying.

Conquer the crash, 22 Jan 2003
A fairly well written book, would be a good starting point to the Elliott Wave principle. I read the Elliott wave priciple book first and found it hard going. This book does not go as heavey into the technical stuff, and is written in a easier style. I read it purely for to educate myself more on Elliott, but I actually found parts of it fascinating.

I great place to start with Hayek, 07 Sep 2007
I've read Hayek's polemics against socialism like The Fatal Conceit and The Road to Serfdom and found them very disappointing, he is a great writer and I find his style and content in some ways similar to another english writer, the socialist, George Orwell but these books seemed very negative.

This book is divided into three sections and post script, the first The Value of Freedom outlines Hayek's views on liberty, reason, responsibility and progress and politics, the second section on Freedom and The Law outlines Hayek's views on the relationship between individual freedom and the state, the final section is on Freedom and The Welfare State and begins with an essay on the decline of socialism and the rise of the welfare state.

This book is a lot more complete and holistic, you get a much clearer idea of what Hayek's proposing aswell as opposing, even if you dont necessarily agree.

In reading it Hayek does appear to be a lot less dogmatic than many of his supporters or popularisers and he's a great writer besides, the very simple introduction which seeks to link Hayek with contemporary wars of religion with the islamic world and the rise of neo-conservatism in America is over shadowed by the main work (infact it reads a lot like Trotsky paying homage to Marx or any other political pundit who tries to bask in reflected glory).

I would seriously recommend the chapter on the decline of socialism and the rise of the welfare state to anyone but to socialists in particular.

This chapter accurately forecasts many of the developments within socialist or left parties, like the rise of new labour, the attempts to conjour a political third way, there's fair comment making the distinction between socialism and the welfare state that is seldom made by anyone left or right, apart from forgotten books from American socialists writting in the seventies.

Market libertarians have been among the few people to really grapple with the issues of appartniks and the unintended consequences of growth of state machinery.

An insight and at times brilliant defence of capitalism, 16 Jan 2003
The Constitution of Liberty can in many ways be regarded as Hayek's most important work. It centres around a highly nuanced defence of the free market based upon the concept of spontaneous order. But in articulating this defence Hayek skilfully interweaves philosophical and historical insights, at all times displaying tremendous erudition and learning.

The result is not a magnus opus like Ludwig von Mises's Human Action, or the Wealth of Nations. Hayek always regarded himself as an intellectual 'muddler' (albeit a brilliant one) rather than a master of his subject. And his work reflects this. Personally I prefer him when he is focused upon a particular issue at hand, like in The Road to Serfdom, or in the essays that comprise, Individualism and the Economic Order.

This is not to detract from the value of this work. Hayek's defence of negative verse "positive freedom", his descriptive of the rule of law, the chapter on Responsibility and Freedom, and the post-script 'Why I am not a Conservative' deserve to be treasured. Hayek's intellectual integrity shines through here. He was never a polemist or extremist, and this has comprised his stature amongst libertarians. But Hayek's particular position on any single issue should not be of concern here. A reiteration of classical liberalism will always be of value, but this work stands out for the subtlety and cogencency of its insights, and the range and depth of its arguments. Hayek's ideas should be recognised as providing, along with those of Mises and Milton Friedman, the best twentieth defence of a free and spontaneously ordered society; a defence which should be distinguished from the limited and comprised one provided by many neo-classical economists, by social democrats or conservatives, and the dogma provided by Aynn Rannd and her disciples.

Mark Koyama

A difficult read, 08 Nov 2008
I found this very hard to get through - probably because I probably am one of those pro-business zealots.
Just reading the introduction will give you a very good idea of the book to come:- polemics against evil business; weak, poorly argued points built on data that don't always support the point; and breathless repetition of the same arguments and the same polemics. For someone not brought up on Marxist economics, it all gets very tiring and tiresome.

But there is value here. While most people reading the book will know about Japan's deflationary problems in the '90s, it is useful to have it told again in reasonable detail. And the sections on global capital flows are interesting and provoke thought.

But in the end I was convinced neither that the author's reading of the credit crunch was useful or correct, nor that he had any useful answers. It may just be my zealotry clouding my reading, but I think there are better and more useful books on the subject.

Credit Crunch, 17 Oct 2008
I found this in an incredibly informative and insightful book about the present economic situation. It makes sense - though I am sure that some aspects of the book are controversial. The author challenges the reader to consider the origins of the credit crunch. The roots are found in free trade and the endless cost cutting pursuits of large corporations in advanced nations who are preoccupied with driving down costs in order to inflate their bottom line; hence the burgeoning trend towards outsourcing to low waged economies. But that is just the start. The book is highly comprehensive and readable.

Informative, insightful and thought provoking, 14 Jul 2008
The outline in the Amazon `product description' above is a fair summary, but it should be stressed that there is nothing sensational or overtly political about this book. It tries to be a reasoned economic assessment of our current plight, although doubtless it will upset some `free market' and `pro-business' zealots. It is a very timely and its predictions seem to be being born out - for example on page 191 we read `the US Treasury .... will be forced to act, rescuing more banks by injecting public sector capital and, ultimately, taking many into public ownership'. I write this on the same day that the US Treasury has proposed to provide as much support as is required to `Fanny May' and `Freddie Mac' and a couple of days after the Californian bank Indy Mac was nationalised.

Some may consider that the two chapters that discuss what happened to Japan after its speculative bubble went bang in 1990 have their longeuers. However, they give us some insight into how difficult it is to get out of a post bubble slump - particularly given the mindsets of economists and central bankers - and what we might have to look forward to (not a lot if Japan is anything to go by).

This book should be readily understood by anybody with an interest in economic and political affairs. There are lots of clear and very informative graphs and not too much heavy economic theory. It explains a lot but is hardly cheering - perhaps Gordon Brown (of whom the author has remarked elsewhere [Spectator Business website] `I think he will go down as the worst Chancellor in history') has seen a copy - it would explain his current demeanour!


USELESS, 11 Dec 2007
THIS BOOK IS COMPLETELY USELESS. ALL THE PEOPLE WHO PRAISE THE BOOK, INSIDE THE FIRST FEW PAGES, TURN OUT TO BE PRECHTER'S PARTNERS. THEY ALL GET RECOMMENDATIONS FOR THEIR BUSINESSES LATER IN THE BOOK !!! EACH TIME SOMEONE BUYS ONE OF HIS BOOKS PRECHTER IS LAUGHING ALL THE WAY TO THE BANK.

We're still waiting, 08 Apr 2006
Prechter must be thanked for bringing Elliott's Wave Principle to the world and educating a generation of Elliott Wave disciples; but there's a world of difference between being a great theoretician and being a source of well-timed financial advice.

Prechter has been doomy with such reliability, and for so long (1987, 1995, 1998, and 2000 to date) that at SOME point he will be entitled to say "see, I told you so", but no matter how intellectually dazzling his commentary is, the markets do not exist to prove Prechter right and the results of following his trading forecasts (i.e. being monster short of Stocks, Treasury Bonds and Gold) have SO FAR been strongly negative. If the average person followed his advice and sold his house and all his stocks, he would not have experienced financial harm, but instead would have been on the side-lines for the biggest up-moves in stocks and real estate in the whole of human history. So we must tread with caution regarding the timing of Prechter's calls. That's not to say they're valueless, but we must be careful nonetheless.

It's my belief, as a follower of my own home-grown variant of the Wave Principle, that there is SOMETHING to it, but that it has to be used carefully. Further, I believe that if you know the Wave Principle, you know people. And thus, if you know people, you know that SOMEONE out there is going to freak out and short everything they can, and lose themselves a fortune.

The point of this review is therefore not to be negative, but to add some RESPONSIBLE advice that should be be included in this otherwise brilliantly researched and eloquent book. The advice is: read the analysis, note the conclusions but REMEMBER THAT THE "GRAND SUPERCYCLE" IS UNPROVEN AND MAYBE DOES NOT EXIST AT ALL. I would also note that much of his analysis is based on the idea of "mean reversion", i.e. that markets for whatever reason always tend back to some form of average metric. Mean reversion, when it occurs, tends to happen by chance, not compulsion, so also bear in mind that just because things are "out of whack", it doesn't mean they're just about to snap back because you read this book. Perhaps the internet really did change things for good - we certainly don't know for sure one way or the other.

Ultimately the successful practice of the Wave Principle relies very much on the judgement of the analyst, despite perhaps giving the appearance that it is an exact science. There is a big difference between being a responsible analyst and producing horrifying nerve-jangling research. Never forget that Prechter is a superb theoretician and sometimes not a bad analyst, but no more - and note that he has said on the public record that he rarely trades.

This book is probably a "must read", but must be referred to wisely. So don't freak out, don't panic, keep this forecast somewhere in your mind and continue to invest wisely and carefully.

I hope that these words might save some people out there a lot of money.

Get Real, 08 Nov 2005
This book could save you from the certain financial and geo-politcal trouble ahead and set you up for a brighter future.

Well written by a man who has done his research and lives by it.

Scary, Meaty, and Easy-to-Read, 05 Aug 2003
This review is one of the most difficult I’ve ever written. This book is packed full of useful information, written in language that you don’t have to be a financial analyst to understand. It is aimed at the ordinary person.

The book explains when and how deflation and depression are likely to occur. The book’s thesis is that we are approaching one of those times. The first half of the book is dedicated to WHY deflation and depression are likely to occur soon, while the second half of the book tells you very specifically what you can do about it.

My difficulty in writing this review stems from not being able to say whether or not I agree with his advice. I bought this book sight unseen, just on the author’s name. In the early 1980’s, I was a stockbroker, and remember Precher’s forecasts being quite unpopular in the investment community, yet uncannily accurate. After reading the book, I feel he has said some REALLY important things here, yet still find myself unable to act on the advice. Reading this book has kept me awake at night, worrying, for six months. The jury’s still out…….you’ll have to read his book and decided for yourselves. Nevertheless, I want to make clear that I DO HIGHLY recommend this book, as it gives you a lot of meat to think about, as he really backs up what he is saying.

Conquer the crash, 22 Jan 2003
A fairly well written book, would be a good starting point to the Elliott Wave principle. I read the Elliott wave priciple book first and found it hard going. This book does not go as heavey into the technical stuff, and is written in a easier style. I read it purely for to educate myself more on Elliott, but I actually found parts of it fascinating.

I great place to start with Hayek, 07 Sep 2007
I've read Hayek's polemics against socialism like The Fatal Conceit and The Road to Serfdom and found them very disappointing, he is a great writer and I find his style and content in some ways similar to another english writer, the socialist, George Orwell but these books seemed very negative.

This book is divided into three sections and post script, the first The Value of Freedom outlines Hayek's views on liberty, reason, responsibility and progress and politics, the second section on Freedom and The Law outlines Hayek's views on the relationship between individual freedom and the state, the final section is on Freedom and The Welfare State and begins with an essay on the decline of socialism and the rise of the welfare state.

This book is a lot more complete and holistic, you get a much clearer idea of what Hayek's proposing aswell as opposing, even if you dont necessarily agree.

In reading it Hayek does appear to be a lot less dogmatic than many of his supporters or popularisers and he's a great writer besides, the very simple introduction which seeks to link Hayek with contemporary wars of religion with the islamic world and the rise of neo-conservatism in America is over shadowed by the main work (infact it reads a lot like Trotsky paying homage to Marx or any other political pundit who tries to bask in reflected glory).

I would seriously recommend the chapter on the decline of socialism and the rise of the welfare state to anyone but to socialists in particular.

This chapter accurately forecasts many of the developments within socialist or left parties, like the rise of new labour, the attempts to conjour a political third way, there's fair comment making the distinction between socialism and the welfare state that is seldom made by anyone left or right, apart from forgotten books from American socialists writting in the seventies.

Market libertarians have been among the few people to really grapple with the issues of appartniks and the unintended consequences of growth of state machinery.

An insight and at times brilliant defence of capitalism, 16 Jan 2003
The Constitution of Liberty can in many ways be regarded as Hayek's most important work. It centres around a highly nuanced defence of the free market based upon the concept of spontaneous order. But in articulating this defence Hayek skilfully interweaves philosophical and historical insights, at all times displaying tremendous erudition and learning.

The result is not a magnus opus like Ludwig von Mises's Human Action, or the Wealth of Nations. Hayek always regarded himself as an intellectual 'muddler' (albeit a brilliant one) rather than a master of his subject. And his work reflects this. Personally I prefer him when he is focused upon a particular issue at hand, like in The Road to Serfdom, or in the essays that comprise, Individualism and the Economic Order.

This is not to detract from the value of this work. Hayek's defence of negative verse "positive freedom", his descriptive of the rule of law, the chapter on Responsibility and Freedom, and the post-script 'Why I am not a Conservative' deserve to be treasured. Hayek's intellectual integrity shines through here. He was never a polemist or extremist, and this has comprised his stature amongst libertarians. But Hayek's particular position on any single issue should not be of concern here. A reiteration of classical liberalism will always be of value, but this work stands out for the subtlety and cogencency of its insights, and the range and depth of its arguments. Hayek's ideas should be recognised as providing, along with those of Mises and Milton Friedman, the best twentieth defence of a free and spontaneously ordered society; a defence which should be distinguished from the limited and comprised one provided by many neo-classical economists, by social democrats or conservatives, and the dogma provided by Aynn Rannd and her disciples.

Mark Koyama

A very valid guide in these increasingly uncertain times, 12 Sep 2007
I re-read this book recently and have to say it has stood the test of time. Many of its forecasts are becoming reality, given the growing uncertainty in the US and beyond. All in all a very readable and informative book.

If you want to survive and prosper, and lets face it who doesn't.....get this book!!, 07 Sep 2007
I found this book an absolutely invaluable guide for surviving economic troubles. This book really allayed my money fears, I now feel calm, confident and, if I'm honest, slightly smug - when it all hits the fan I will be prepared and rich! This book taught me so much about economic forecasting and the historical examples were a great way of highlighting the trends that spell disaster. If you want to survive and prosper, and lets face it who doesn't.....get this book!!

Smelling salts required after this !!, 18 Nov 2005
Well written account of the financial mess we are in and advice given on ways to limit the fallout. Other significant world events likely to impact upon us all are highlighted and there are examples from episodes in history which we are about to re-visit. Informative but a touch depressing with an "end time" feel to it. Even so....a must read !

A difficult read, 08 Nov 2008
I found this very hard to get through - probably because I probably am one of those pro-business zealots.
Just reading the introduction will give you a very good idea of the book to come:- polemics against evil business; weak, poorly argued points built on data that don't always support the point; and breathless repetition of the same arguments and the same polemics. For someone not brought up on Marxist economics, it all gets very tiring and tiresome.

But there is value here. While most people reading the book will know about Japan's deflationary problems in the '90s, it is useful to have it told again in reasonable detail. And the sections on global capital flows are interesting and provoke thought.

But in the end I was convinced neither that the author's reading of the credit crunch was useful or correct, nor that he had any useful answers. It may just be my zealotry clouding my reading, but I think there are better and more useful books on the subject.

Credit Crunch, 17 Oct 2008
I found this in an incredibly informative and insightful book about the present economic situation. It makes sense - though I am sure that some aspects of the book are controversial. The author challenges the reader to consider the origins of the credit crunch. The roots are found in free trade and the endless cost cutting pursuits of large corporations in advanced nations who are preoccupied with driving down costs in order to inflate their bottom line; hence the burgeoning trend towards outsourcing to low waged economies. But that is just the start. The book is highly comprehensive and readable.

Informative, insightful and thought provoking, 14 Jul 2008
The outline in the Amazon `product description' above is a fair summary, but it should be stressed that there is nothing sensational or overtly political about this book. It tries to be a reasoned economic assessment of our current plight, although doubtless it will upset some `free market' and `pro-business' zealots. It is a very timely and its predictions seem to be being born out - for example on page 191 we read `the US Treasury .... will be forced to act, rescuing more banks by injecting public sector capital and, ultimately, taking many into public ownership'. I write this on the same day that the US Treasury has proposed to provide as much support as is required to `Fanny May' and `Freddie Mac' and a couple of days after the Californian bank Indy Mac was nationalised.

Some may consider that the two chapters that discuss what happened to Japan after its speculative bubble went bang in 1990 have their longeuers. However, they give us some insight into how difficult it is to get out of a post bubble slump - particularly given the mindsets of economists and central bankers - and what we might have to look forward to (not a lot if Japan is anything to go by).

This book should be readily understood by anybody with an interest in economic and political affairs. There are lots of clear and very informative graphs and not too much heavy economic theory. It explains a lot but is hardly cheering - perhaps Gordon Brown (of whom the author has remarked elsewhere [Spectator Business website] `I think he will go down as the worst Chancellor in history') has seen a copy - it would explain his current demeanour!


USELESS, 11 Dec 2007
THIS BOOK IS COMPLETELY USELESS. ALL THE PEOPLE WHO PRAISE THE BOOK, INSIDE THE FIRST FEW PAGES, TURN OUT TO BE PRECHTER'S PARTNERS. THEY ALL GET RECOMMENDATIONS FOR THEIR BUSINESSES LATER IN THE BOOK !!! EACH TIME SOMEONE BUYS ONE OF HIS BOOKS PRECHTER IS LAUGHING ALL THE WAY TO THE BANK.

We're still waiting, 08 Apr 2006
Prechter must be thanked for bringing Elliott's Wave Principle to the world and educating a generation of Elliott Wave disciples; but there's a world of difference between being a great theoretician and being a source of well-timed financial advice.

Prechter has been doomy with such reliability, and for so long (1987, 1995, 1998, and 2000 to date) that at SOME point he will be entitled to say "see, I told you so", but no matter how intellectually dazzling his commentary is, the markets do not exist to prove Prechter right and the results of following his trading forecasts (i.e. being monster short of Stocks, Treasury Bonds and Gold) have SO FAR been strongly negative. If the average person followed his advice and sold his house and all his stocks, he would not have experienced financial harm, but instead would have been on the side-lines for the biggest up-moves in stocks and real estate in the whole of human history. So we must tread with caution regarding the timing of Prechter's calls. That's not to say they're valueless, but we must be careful nonetheless.

It's my belief, as a follower of my own home-grown variant of the Wave Principle, that there is SOMETHING to it, but that it has to be used carefully. Further, I believe that if you know the Wave Principle, you know people. And thus, if you know people, you know that SOMEONE out there is going to freak out and short everything they can, and lose themselves a fortune.

The point of this review is therefore not to be negative, but to add some RESPONSIBLE advice that should be be included in this otherwise brilliantly researched and eloquent book. The advice is: read the analysis, note the conclusions but REMEMBER THAT THE "GRAND SUPERCYCLE" IS UNPROVEN AND MAYBE DOES NOT EXIST AT ALL. I would also note that much of his analysis is based on the idea of "mean reversion", i.e. that markets for whatever reason always tend back to some form of average metric. Mean reversion, when it occurs, tends to happen by chance, not compulsion, so also bear in mind that just because things are "out of whack", it doesn't mean they're just about to snap back because you read this book. Perhaps the internet really did change things for good - we certainly don't know for sure one way or the other.

Ultimately the successful practice of the Wave Principle relies very much on the judgement of the analyst, despite perhaps giving the appearance that it is an exact science. There is a big difference between being a responsible analyst and producing horrifying nerve-jangling research. Never forget that Prechter is a superb theoretician and sometimes not a bad analyst, but no more - and note that he has said on the public record that he rarely trades.

This book is probably a "must read", but must be referred to wisely. So don't freak out, don't panic, keep this forecast somewhere in your mind and continue to invest wisely and carefully.

I hope that these words might save some people out there a lot of money.

Get Real, 08 Nov 2005
This book could save you from the certain financial and geo-politcal trouble ahead and set you up for a brighter future.

Well written by a man who has done his research and lives by it.

Scary, Meaty, and Easy-to-Read, 05 Aug 2003
This review is one of the most difficult I’ve ever written. This book is packed full of useful information, written in language that you don’t have to be a financial analyst to understand. It is aimed at the ordinary person.

The book explains when and how deflation and depression are likely to occur. The book’s thesis is that we are approaching one of those times. The first half of the book is dedicated to WHY deflation and depression are likely to occur soon, while the second half of the book tells you very specifically what you can do about it.

My difficulty in writing this review stems from not being able to say whether or not I agree with his advice. I bought this book sight unseen, just on the author’s name. In the early 1980’s, I was a stockbroker, and remember Precher’s forecasts being quite unpopular in the investment community, yet uncannily accurate. After reading the book, I feel he has said some REALLY important things here, yet still find myself unable to act on the advice. Reading this book has kept me awake at night, worrying, for six months. The jury’s still out…….you’ll have to read his book and decided for yourselves. Nevertheless, I want to make clear that I DO HIGHLY recommend this book, as it gives you a lot of meat to think about, as he really backs up what he is saying.

Conquer the crash, 22 Jan 2003
A fairly well written book, would be a good starting point to the Elliott Wave principle. I read the Elliott wave priciple book first and found it hard going. This book does not go as heavey into the technical stuff, and is written in a easier style. I read it purely for to educate myself more on Elliott, but I actually found parts of it fascinating.

I great place to start with Hayek, 07 Sep 2007
I've read Hayek's polemics against socialism like The Fatal Conceit and The Road to Serfdom and found them very disappointing, he is a great writer and I find his style and content in some ways similar to another english writer, the socialist, George Orwell but these books seemed very negative.

This book is divided into three sections and post script, the first The Value of Freedom outlines Hayek's views on liberty, reason, responsibility and progress and politics, the second section on Freedom and The Law outlines Hayek's views on the relationship between individual freedom and the state, the final section is on Freedom and The Welfare State and begins with an essay on the decline of socialism and the rise of the welfare state.

This book is a lot more complete and holistic, you get a much clearer idea of what Hayek's proposing aswell as opposing, even if you dont necessarily agree.

In reading it Hayek does appear to be a lot less dogmatic than many of his supporters or popularisers and he's a great writer besides, the very simple introduction which seeks to link Hayek with contemporary wars of religion with the islamic world and the rise of neo-conservatism in America is over shadowed by the main work (infact it reads a lot like Trotsky paying homage to Marx or any other political pundit who tries to bask in reflected glory).

I would seriously recommend the chapter on the decline of socialism and the rise of the welfare state to anyone but to socialists in particular.

This chapter accurately forecasts many of the developments within socialist or left parties, like the rise of new labour, the attempts to conjour a political third way, there's fair comment making the distinction between socialism and the welfare state that is seldom made by anyone left or right, apart from forgotten books from American socialists writting in the seventies.

Market libertarians have been among the few people to really grapple with the issues of appartniks and the unintended consequences of growth of state machinery.

An insight and at times brilliant defence of capitalism, 16 Jan 2003
The Constitution of Liberty can in many ways be regarded as Hayek's most important work. It centres around a highly nuanced defence of the free market based upon the concept of spontaneous order. But in articulating this defence Hayek skilfully interweaves philosophical and historical insights, at all times displaying tremendous erudition and learning.

The result is not a magnus opus like Ludwig von Mises's Human Action, or the Wealth of Nations. Hayek always regarded himself as an intellectual 'muddler' (albeit a brilliant one) rather than a master of his subject. And his work reflects this. Personally I prefer him when he is focused upon a particular issue at hand, like in The Road to Serfdom, or in the essays that comprise, Individualism and the Economic Order.

This is not to detract from the value of this work. Hayek's defence of negative verse "positive freedom", his descriptive of the rule of law, the chapter on Responsibility and Freedom, and the post-script 'Why I am not a Conservative' deserve to be treasured. Hayek's intellectual integrity shines through here. He was never a polemist or extremist, and this has comprised his stature amongst libertarians. But Hayek's particular position on any single issue should not be of concern here. A reiteration of classical liberalism will always be of value, but this work stands out for the subtlety and cogencency of its insights, and the range and depth of its arguments. Hayek's ideas should be recognised as providing, along with those of Mises and Milton Friedman, the best twentieth defence of a free and spontaneously ordered society; a defence which should be distinguished from the limited and comprised one provided by many neo-classical economists, by social democrats or conservatives, and the dogma provided by Aynn Rannd and her disciples.

Mark Koyama

A very valid guide in these increasingly uncertain times, 12 Sep 2007
I re-read this book recently and have to say it has stood the test of time. Many of its forecasts are becoming reality, given the growing uncertainty in the US and beyond. All in all a very readable and informative book.

If you want to survive and prosper, and lets face it who doesn't.....get this book!!, 07 Sep 2007
I found this book an absolutely invaluable guide for surviving economic troubles. This book really allayed my money fears, I now feel calm, confident and, if I'm honest, slightly smug - when it all hits the fan I will be prepared and rich! This book taught me so much about economic forecasting and the historical examples were a great way of highlighting the trends that spell disaster. If you want to survive and prosper, and lets face it who doesn't.....get this book!!

Smelling salts required after this !!, 18 Nov 2005
Well written account of the financial mess we are in and advice given on ways to limit the fallout. Other significant world events likely to impact upon us all are highlighted and there are examples from episodes in history which we are about to re-visit. Informative but a touch depressing with an "end time" feel to it. Even so....a must read !

giggling;y good, 07 Oct 2008
I bought this to read on a flight, and it was a delightful book. Chas had me giggling so much! If you enjoyed Urban Dreams, Rural Realities then give this book a try, it's not in chronological order, but it flows nicely from one subject to another.

Also pick up more scenes from a smallholding!

Great Read!, 05 Oct 2008
What a great read!! Funny and quite informative if you are thinking of starting a smallholding... couldn't put it down until I finished it and wanted more... fancy finding a book that helps you see what difficulties you might face if you start a new life in the country, gives you helpful hints AND is such a good read that even if you weren't thinking of a move it is just so funny.

Scenes from a smallholding , 16 Jan 2008
This was a most entertaining book. Once you are used the chronological layout, it is humourous, touching and inspiring. I urge you to read it

Best book I've read in a long time, 05 Jun 2007
Scenes from a Smallholding is one of best books I've ever read, simple as that. Incredibly funny, perceptive, thought provoking and motivational. What more could you want?

Learn about one man and his family's life changing experience and have an absolute whale of time to boot!



An Original Downshifter....., 16 Aug 2005
Chas Griffin had an 'Epiphany'in Urban Birmingham and that was that. Chas, wife & children soon swapped grey for green, fumes for fertiliser (organic of course) and a self- sufficient lifestyle in rural Wales soon becoming Organic Garlic Growers to provide a small income. Things ain't easy for the Griffins but despite the hard work and set backs, their ability to view their lives with humour and Chas's ability to contemplate the bizarre make this book truley different from others. I liked the writing style, intelligent, quirky, informative, gentle but passionate- above all its a great human story and the ending will have you wanting the author to write book 2- right away.....

A difficult read, 08 Nov 2008
I found this very hard to get through - probably because I probably am one of those pro-business zealots.
Just reading the introduction will give you a very good idea of the book to come:- polemics against evil business; weak, poorly argued points built on data that don't always support the point; and breathless repetition of the same arguments and the same polemics. For someone not brought up on Marxist economics, it all gets very tiring and tiresome.

But there is value here. While most people reading the book will know about Japan's deflationary problems in the '90s, it is useful to have it told again in reasonable detail. And the sections on global capital flows are interesting and provoke thought.

But in the end I was convinced neither that the author's reading of the credit crunch was useful or correct, nor that he had any useful answers. It may just be my zealotry clouding my reading, but I think there are better and more useful books on the subject.

Credit Crunch, 17 Oct 2008
I found this in an incredibly informative and insightful book about the present economic situation. It makes sense - though I am sure that some aspects of the book are controversial. The author challenges the reader to consider the origins of the credit crunch. The roots are found in free trade and the endless cost cutting pursuits of large corporations in advanced nations who are preoccupied with driving down costs in order to inflate their bottom line; hence the burgeoning trend towards outsourcing to low waged economies. But that is just the start. The book is highly comprehensive and readable.

Informative, insightful and thought provoking, 14 Jul 2008
The outline in the Amazon `product description' above is a fair summary, but it should be stressed that there is nothing sensational or overtly political about this book. It tries to be a reasoned economic assessment of our current plight, although doubtless it will upset some `free market' and `pro-business' zealots. It is a very timely and its predictions seem to be being born out - for example on page 191 we read `the US Treasury .... will be forced to act, rescuing more banks by injecting public sector capital and, ultimately, taking many into public ownership'. I write this on the same day that the US Treasury has proposed to provide as much support as is required to `Fanny May' and `Freddie Mac' and a couple of days after the Californian bank Indy Mac was nationalised.

Some may consider that the two chapters that discuss what happened to Japan after its speculative bubble went bang in 1990 have their longeuers. However, they give us some insight into how difficult it is to get out of a post bubble slump - particularly given the mindsets of economists and central bankers - and what we might have to look forward to (not a lot if Japan is anything to go by).

This book should be readily understood by anybody with an interest in economic and political affairs. There are lots of clear and very informative graphs and not too much heavy economic theory. It explains a lot but is hardly cheering - perhaps Gordon Brown (of whom the author has remarked elsewhere [Spectator Business website] `I think he will go down as the worst Chancellor in history') has seen a copy - it would explain his current demeanour!


USELESS, 11 Dec 2007
THIS BOOK IS COMPLETELY USELESS. ALL THE PEOPLE WHO PRAISE THE BOOK, INSIDE THE FIRST FEW PAGES, TURN OUT TO BE PRECHTER'S PARTNERS. THEY ALL GET RECOMMENDATIONS FOR THEIR BUSINESSES LATER IN THE BOOK !!! EACH TIME SOMEONE BUYS ONE OF HIS BOOKS PRECHTER IS LAUGHING ALL THE WAY TO THE BANK.

We're still waiting, 08 Apr 2006
Prechter must be thanked for bringing Elliott's Wave Principle to the world and educating a generation of Elliott Wave disciples; but there's a world of difference between being a great theoretician and being a source of well-timed financial advice.

Prechter has been doomy with such reliability, and for so long (1987, 1995, 1998, and 2000 to date) that at SOME point he will be entitled to say "see, I told you so", but no matter how intellectually dazzling his commentary is, the markets do not exist to prove Prechter right and the results of following his trading forecasts (i.e. being monster short of Stocks, Treasury Bonds and Gold) have SO FAR been strongly negative. If the average person followed his advice and sold his house and all his stocks, he would not have experienced financial harm, but instead would have been on the side-lines for the biggest up-moves in stocks and real estate in the whole of human history. So we must tread with caution regarding the timing of Prechter's calls. That's not to say they're valueless, but we must be careful nonetheless.

It's my belief, as a follower of my own home-grown variant of the Wave Principle, that there is SOMETHING to it, but that it has to be used carefully. Further, I believe that if you know the Wave Principle, you know people. And thus, if you know people, you know that SOMEONE out there is going to freak out and short everything they can, and lose themselves a fortune.

The point of this review is therefore not to be negative, but to add some RESPONSIBLE advice that should be be included in this otherwise brilliantly researched and eloquent book. The advice is: read the analysis, note the conclusions but REMEMBER THAT THE "GRAND SUPERCYCLE" IS UNPROVEN AND MAYBE DOES NOT EXIST AT ALL. I would also note that much of his analysis is based on the idea of "mean reversion", i.e. that markets for whatever reason always tend back to some form of average metric. Mean reversion, when it occurs, tends to happen by chance, not compulsion, so also bear in mind that just because things are "out of whack", it doesn't mean they're just about to snap back because you read this book. Perhaps the internet really did change things for good - we certainly don't know for sure one way or the other.

Ultimately the successful practice of the Wave Principle relies very much on the judgement of the analyst, despite perhaps giving the appearance that it is an exact science. There is a big difference between being a responsible analyst and producing horrifying nerve-jangling research. Never forget that Prechter is a superb theoretician and sometimes not a bad analyst, but no more - and note that he has said on the public record that he rarely trades.

This book is probably a "must read", but must be referred to wisely. So don't freak out, don't panic, keep this forecast somewhere in your mind and continue to invest wisely and carefully.

I hope that these words might save some people out there a lot of money.

Get Real, 08 Nov 2005
This book could save you from the certain financial and geo-politcal trouble ahead and set you up for a brighter future.

Well written by a man who has done his research and lives by it.

Scary, Meaty, and Easy-to-Read, 05 Aug 2003
This review is one of the most difficult I’ve ever written. This book is packed full of useful information, written in language that you don’t have to be a financial analyst to understand. It is aimed at the ordinary person.

The book explains when and how deflation and depression are likely to occur. The book’s thesis is that we are approaching one of those times. The first half of the book is dedicated to WHY deflation and depression are likely to occur soon, while the second half of the book tells you very specifically what you can do about it.

My difficulty in writing this review stems from not being able to say whether or not I agree with his advice. I bought this book sight unseen, just on the author’s name. In the early 1980’s, I was a stockbroker, and remember Precher’s forecasts being quite unpopular in the investment community, yet uncannily accurate. After reading the book, I feel he has said some REALLY important things here, yet still find myself unable to act on the advice. Reading this book has kept me awake at night, worrying, for six months. The jury’s still out…….you’ll have to read his book and decided for yourselves. Nevertheless, I want to make clear that I DO HIGHLY recommend this book, as it gives you a lot of meat to think about, as he really backs up what he is saying.

Conquer the crash, 22 Jan 2003
A fairly well written book, would be a good starting point to the Elliott Wave principle. I read the Elliott wave priciple book first and found it hard going. This book does not go as heavey into the technical stuff, and is written in a easier style. I read it purely for to educate myself more on Elliott, but I actually found parts of it fascinating.

I great place to start with Hayek, 07 Sep 2007
I've read Hayek's polemics against socialism like The Fatal Conceit and The Road to Serfdom and found them very disappointing, he is a great writer and I find his style and content in some ways similar to another english writer, the socialist, George Orwell but these books seemed very negative.

This book is divided into three sections and post script, the first The Value of Freedom outlines Hayek's views on liberty, reason, responsibility and progress and politics, the second section on Freedom and The Law outlines Hayek's views on the relationship between individual freedom and the state, the final section is on Freedom and The Welfare State and begins with an essay on the decline of socialism and the rise of the welfare state.

This book is a lot more complete and holistic, you get a much clearer idea of what Hayek's proposing aswell as opposing, even if you dont necessarily agree.

In reading it Hayek does appear to be a lot less dogmatic than many of his supporters or popularisers and he's a great writer besides, the very simple introduction which seeks to link Hayek with contemporary wars of religion with the islamic world and the rise of neo-conservatism in America is over shadowed by the main work (infact it reads a lot like Trotsky paying homage to Marx or any other political pundit who tries to bask in reflected glory).

I would seriously recommend the chapter on the decline of socialism and the rise of the welfare state to anyone but to socialists in particular.

This chapter accurately forecasts many of the developments within socialist or left parties, like the rise of new labour, the attempts to conjour a political third way, there's fair comment making the distinction between socialism and the welfare state that is seldom made by anyone left or right, apart from forgotten books from American socialists writting in the seventies.

Market libertarians have been among the few people to really grapple with the issues of appartniks and the unintended consequences of growth of state machinery.

An insight and at times brilliant defence of capitalism, 16 Jan 2003
The Constitution of Liberty can in many ways be regarded as Hayek's most important work. It centres around a highly nuanced defence of the free market based upon the concept of spontaneous order. But in articulating this defence Hayek skilfully interweaves philosophical and historical insights, at all times displaying tremendous erudition and learning.

The result is not a magnus opus like Ludwig von Mises's Human Action, or the Wealth of Nations. Hayek always regarded himself as an intellectual 'muddler' (albeit a brilliant one) rather than a master of his subject. And his work reflects this. Personally I prefer him when he is focused upon a particular issue at hand, like in The Road to Serfdom, or in the essays that comprise, Individualism and the Economic Order.

This is not to detract from the value of this work. Hayek's defence of negative verse "positive freedom", his descriptive of the rule of law, the chapter on Responsibility and Freedom, and the post-script 'Why I am not a Conservative' deserve to be treasured. Hayek's intellectual integrity shines through here. He was never a polemist or extremist, and this has comprised his stature amongst libertarians. But Hayek's particular position on any single issue should not be of concern here. A reiteration of classical liberalism will always be of value, but this work stands out for the subtlety and cogencency of its insights, and the range and depth of its arguments. Hayek's ideas should be recognised as providing, along with those of Mises and Milton Friedman, the best twentieth defence of a free and spontaneously ordered society; a defence which should be distinguished from the limited and comprised one provided by many neo-classical economists, by social democrats or conservatives, and the dogma provided by Aynn Rannd and her disciples.

Mark Koyama

A very valid guide in these increasingly uncertain times, 12 Sep 2007
I re-read this book recently and have to say it has stood the test of time. Many of its forecasts are becoming reality, given the growing uncertainty in the US and beyond. All in all a very readable and informative book.

If you want to survive and prosper, and lets face it who doesn't.....get this book!!, 07 Sep 2007
I found this book an absolutely invaluable guide for surviving economic troubles. This book really allayed my money fears, I now feel calm, confident and, if I'm honest, slightly smug - when it all hits the fan I will be prepared and rich! This book taught me so much about economic forecasting and the historical examples were a great way of highlighting the trends that spell disaster. If you want to survive and prosper, and lets face it who doesn't.....get this book!!

Smelling salts required after this !!, 18 Nov 2005
Well written account of the financial mess we are in and advice given on ways to limit the fallout. Other significant world events likely to impact upon us all are highlighted and there are examples from episodes in history which we are about to re-visit. Informative but a touch depressing with an "end time" feel to it. Even so....a must read !

giggling;y good, 07 Oct 2008
I bought this to read on a flight, and it was a delightful book. Chas had me giggling so much! If you enjoyed Urban Dreams, Rural Realities then give this book a try, it's not in chronological order, but it flows nicely from one subject to another.

Also pick up more scenes from a smallholding!

Great Read!, 05 Oct 2008
What a great read!! Funny and quite informative if you are thinking of starting a smallholding... couldn't put it down until I finished it and wanted more... fancy finding a book that helps you see what difficulties you might face if you start a new life in the country, gives you helpful hints AND is such a good read that even if you weren't thinking of a move it is just so funny.

Scenes from a smallholding , 16 Jan 2008
This was a most entertaining book. Once you are used the chronological layout, it is humourous, touching and inspiring. I urge you to read it

Best book I've read in a long time, 05 Jun 2007
Scenes from a Smallholding is one of best books I've ever read, simple as that. Incredibly funny, perceptive, thought provoking and motivational. What more could you want?

Learn about one man and his family's life changing experience and have an absolute whale of time to boot!



An Original Downshifter....., 16 Aug 2005
Chas Griffin had an 'Epiphany'in Urban Birmingham and that was that. Chas, wife & children soon swapped grey for green, fumes for fertiliser (organic of course) and a self- sufficient lifestyle in rural Wales soon becoming Organic Garlic Growers to provide a small income. Things ain't easy for the Griffins but despite the hard work and set backs, their ability to view their lives with humour and Chas's ability to contemplate the bizarre make this book truley different from others. I liked the writing style, intelligent, quirky, informative, gentle but passionate- above all its a great human story and the ending will have you wanting the author to write book 2- right away.....

Prophetic economic analysis, 12 Nov 2008
Subsequent events have proven this book to be somewhat prophetic. Richard Duncan offers a very good, although somewhat dry, exposition of the international financial structures that emerged in the wake of the failure of the Bretton Woods system. The author is reasonably evenhanded in his assessment of these structures, noting that they made extremely rapid development possible, but at the great risk of economic crisis. In the wake of the subprime mortgage setbacks of 2007 and 2008, few well-informed people would argue with the author's indictment of excessive credit expansion. Still, many might argue with his conclusions, especially with his support of a global central bank and a global minimum wage. For those seeking a clear, informed exposition of the systemic vulnerabilities that culminated in the global credit crisis of 2008, getAbstract suggests this book as an excellent starting point.

compelling, enjoyable and brilliantly analysed, 22 Mar 2004
Every day we are barraged by so much raw data on GDP, borrowing, exchange rates and trade deficits etc. The 'facts' we see on business news TV and in learned economic journals are plentiful. Sadly, long lists of facts aren't particularly useful if, like most people, you don't know how to analyse them usefully. This book makes sense of the economic forces that underpin the dollar and the US stock market, putting today's precarious situation into historical perspective and explaining why the dollar must fall. Lucid explanations abound along with plenty of charts and recaps of all the important points exactly when you were about to let something slip from the front of your mind. Brilliant on the qualitative arguments but even more impressive on the quantitative stuff. This is a far more serious work than most of its competition like "Financial Reckoning Day" which I read on the same day. If you're into having your thoughts and opinions backed up with meaningful fact based analysis then this is the book for you.

A difficult read, 08 Nov 2008
I found this very hard to get through - probably because I probably am one of those pro-business zealots.
Just reading the introduction will give you a very good idea of the book to come:- polemics against evil business; weak, poorly argued points built on data that don't always support the point; and breathless repetition of the same arguments and the same polemics. For someone not brought up on Marxist economics, it all gets very tiring and tiresome.

But there is value here. While most people reading the book will know about Japan's deflationary problems in the '90s, it is useful to have it told again in reasonable detail. And the sections on global capital flows are interesting and provoke thought.

But in the end I was convinced neither that the author's reading of the credit crunch was useful or correct, nor that he had any useful answers. It may just be my zealotry clouding my reading, but I think there are better and more useful books on the subject.

Credit Crunch, 17 Oct 2008
I found this in an incredibly informative and insightful book about the present economic situation. It makes sense - though I am sure that some aspects of the book are controversial. The author challenges the reader to consider the origins of the credit crunch. The roots are found in free trade and the endless cost cutting pursuits of large corporations in advanced nations who are preoccupied with driving down costs in order to inflate their bottom line; hence the burgeoning trend towards outsourcing to low waged economies. But that is just the start. The book is highly comprehensive and readable.

Informative, insightful and thought provoking, 14 Jul 2008
The outline in the Amazon `product description' above is a fair summary, but it should be stressed that there is nothing sensational or overtly political about this book. It tries to be a reasoned economic assessment of our current plight, although doubtless it will upset some `free market' and `pro-business' zealots. It is a very timely and its predictions seem to be being born out - for example on page 191 we read `the US Treasury .... will be forced to act, rescuing more banks by injecting public sector capital and, ultimately, taking many into public ownership'. I write this on the same day that the US Treasury has proposed to provide as much support as is required to `Fanny May' and `Freddie Mac' and a couple of days after the Californian bank Indy Mac was nationalised.

Some may consider that the two chapters that discuss what happened to Japan after its speculative bubble went bang in 1990 have their longeuers. However, they give us some insight into how difficult it is to get out of a post bubble slump - particularly given the mindsets of economists and central bankers - and what we might have to look forward to (not a lot if Japan is anything to go by).

This book should be readily understood by anybody with an interest in economic and political affairs. There are lots of clear and very informative graphs and not too much heavy economic theory. It explains a lot but is hardly cheering - perhaps Gordon Brown (of whom the author has remarked elsewhere [Spectator Business website] `I think he will go down as the worst Chancellor in history') has seen a copy - it would explain his current demeanour!


USELESS, 11 Dec 2007
THIS BOOK IS COMPLETELY USELESS. ALL THE PEOPLE WHO PRAISE THE BOOK, INSIDE THE FIRST FEW PAGES, TURN OUT TO BE PRECHTER'S PARTNERS. THEY ALL GET RECOMMENDATIONS FOR THEIR BUSINESSES LATER IN THE BOOK !!! EACH TIME SOMEONE BUYS ONE OF HIS BOOKS PRECHTER IS LAUGHING ALL THE WAY TO THE BANK.

We're still waiting, 08 Apr 2006
Prechter must be thanked for bringing Elliott's Wave Principle to the world and educating a generation of Elliott Wave disciples; but there's a world of difference between being a great theoretician and being a source of well-timed financial advice.

Prechter has been doomy with such reliability, and for so long (1987, 1995, 1998, and 2000 to date) that at SOME point he will be entitled to say "see, I told you so", but no matter how intellectually dazzling his commentary is, the markets do not exist to prove Prechter right and the results of following his trading forecasts (i.e. being monster short of Stocks, Treasury Bonds and Gold) have SO FAR been strongly negative. If the average person followed his advice and sold his house and all his stocks, he would not have experienced financial harm, but instead would have been on the side-lines for the biggest up-moves in stocks and real estate in the whole of human history. So we must tread with caution regarding the timing of Prechter's calls. That's not to say they're valueless, but we must be careful nonetheless.

It's my belief, as a follower of my own home-grown variant of the Wave Principle, that there is SOMETHING to it, but that it has to be used carefully. Further, I believe that if you know the Wave Principle, you know people. And thus, if you know people, you know that SOMEONE out there is going to freak out and short everything they can, and lose themselves a fortune.

The point of this review is therefore not to be negative, but to add some RESPONSIBLE advice that should be be included in this otherwise brilliantly researched and eloquent book. The advice is: read the analysis, note the conclusions but REMEMBER THAT THE "GRAND SUPERCYCLE" IS UNPROVEN AND MAYBE DOES NOT EXIST AT ALL. I would also note that much of his analysis is based on the idea of "mean reversion", i.e. that markets for whatever reason always tend back to some form of average metric. Mean reversion, when it occurs, tends to happen by chance, not compulsion, so also bear in mind that just because things are "out of whack", it doesn't mean they're just about to snap back because you read this book. Perhaps the internet really did change things for good - we certainly don't know for sure one way or the other.

Ultimately the successful practice of the Wave Principle relies very much on the judgement of the analyst, despite perhaps giving the appearance that it is an exact science. There is a big difference between being a responsible analyst and producing horrifying nerve-jangling research. Never forget that Prechter is a superb theoretician and sometimes not a bad analyst, but no more - and note that he has said on the public record that he rarely trades.

This book is probably a "must read", but must be referred to wisely. So don't freak out, don't panic, keep this forecast somewhere in your mind and continue to invest wisely and carefully.

I hope that these words might save some people out there a lot of money.

Get Real, 08 Nov 2005
This book could save you from the certain financial and geo-politcal trouble ahead and set you up for a brighter future.

Well written by a man who has done his research and lives by it.

Scary, Meaty, and Easy-to-Read, 05 Aug 2003
This review is one of the most difficult I’ve ever written. This book is packed full of useful information, written in language that you don’t have to be a financial analyst to understand. It is aimed at the ordinary person.

The book explains when and how deflation and depression are likely to occur. The book’s thesis is that we are approaching one of those times. The first half of the book is dedicated to WHY deflation and depression are likely to occur soon, while the second half of the book tells you very specifically what you can do about it.

My difficulty in writing this review stems from not being able to say whether or not I agree with his advice. I bought this book sight unseen, just on the author’s name. In the early 1980’s, I was a stockbroker, and remember Precher’s forecasts being quite unpopular in the investment community, yet uncannily accurate. After reading the book, I feel he has said some REALLY important things here, yet still find myself unable to act on the advice. Reading this book has kept me awake at night, worrying, for six months. The jury’s still out…….you’ll have to read his book and decided for yourselves. Nevertheless, I want to make clear that I DO HIGHLY recommend this book, as it gives you a lot of meat to think about, as he really backs up what he is saying.

Conquer the crash, 22 Jan 2003
A fairly well written book, would be a good starting point to the Elliott Wave principle. I read the Elliott wave priciple book first and found it hard going. This book does not go as heavey into the technical stuff, and is written in a easier style. I read it purely for to educate myself more on Elliott, but I actually found parts of it fascinating.

I great place to start with Hayek, 07 Sep 2007
I've read Hayek's polemics against socialism like The Fatal Conceit and The Road to Serfdom and found them very disappointing, he is a great writer and I find his style and content in some ways similar to another english writer, the socialist, George Orwell but these books seemed very negative.

This book is divided into three sections and post script, the first The Value of Freedom outlines Hayek's views on liberty, reason, responsibility and progress and politics, the second section on Freedom and The Law outlines Hayek's views on the relationship between individual freedom and the state, the final section is on Freedom and The Welfare State and begins with an essay on the decline of socialism and the rise of the welfare state.

This book is a lot more complete and holistic, you get a much clearer idea of what Hayek's proposing aswell as opposing, even if you dont necessarily agree.

In reading it Hayek does appear to be a lot less dogmatic than many of his supporters or popularisers and he's a great writer besides, the very simple introduction which seeks to link Hayek with contemporary wars of religion with the islamic world and the rise of neo-conservatism in America is over shadowed by the main work (infact it reads a lot like Trotsky paying homage to Marx or any other political pundit who tries to bask in reflected glory).

I would seriously recommend the chapter on the decline of socialism and the rise of the welfare state to anyone but to socialists in particular.

This chapter accurately forecasts many of the developments within socialist or left parties, like the rise of new labour, the attempts to conjour a political third way, there's fair comment making the distinction between socialism and the welfare state that is seldom made by anyone left or right, apart from forgotten books from American socialists writting in the seventies.

Market libertarians have been among the few people to really grapple with the issues of appartniks and the unintended consequences of growth of state machinery.

An insight and at times brilliant defence of capitalism, 16 Jan 2003
The Constitution of Liberty can in many ways be regarded as Hayek's most important work. It centres around a highly nuanced defence of the free market based upon the concept of spontaneous order. But in articulating this defence Hayek skilfully interweaves philosophical and historical insights, at all times displaying tremendous erudition and learning.

The result is not a magnus opus like Ludwig von Mises's Human Action, or the Wealth of Nations. Hayek always regarded himself as an intellectual 'muddler' (albeit a brilliant one) rather than a master of his subject. And his work reflects this. Personally I prefer him when he is focused upon a particular issue at hand, like in The Road to Serfdom, or in the essays that comprise, Individualism and the Economic Order.

This is not to detract from the value of this work. Hayek's defence of negative verse "positive freedom", his descriptive of the rule of law, the chapter on Responsibility and Freedom, and the post-script 'Why I am not a Conservative' deserve to be treasured. Hayek's intellectual integrity shines through here. He was never a polemist or extremist, and this has comprised his stature amongst libertarians. But Hayek's particular position on any single issue should not be of concern here. A reiteration of classical liberalism will always be of value, but this work stands out for the subtlety and cogencency of its insights, and the range and depth of its arguments. Hayek's ideas should be recognised as providing, along with those of Mises and Milton Friedman, the best twentieth defence of a free and spontaneously ordered society; a defence which should be distinguished from the limited and comprised one provided by many neo-classical economists, by social democrats or conservatives, and the dogma provided by Aynn Rannd and her disciples.

Mark Koyama

A very valid guide in these increasingly uncertain times, 12 Sep 2007
I re-read this book recently and have to say it has stood the test of time. Many of its forecasts are becoming reality, given the growing uncertainty in the US and beyond. All in all a very readable and informative book.

If you want to survive and prosper, and lets face it who doesn't.....get this book!!, 07 Sep 2007
I found this book an absolutely invaluable guide for surviving economic troubles. This book really allayed my money fears, I now feel calm, confident and, if I'm honest, slightly smug - when it all hits the fan I will be prepared and rich! This book taught me so much about economic forecasting and the historical examples were a great way of highlighting the trends that spell disaster. If you want to survive and prosper, and lets face it who doesn't.....get this book!!

Smelling salts required after this !!, 18 Nov 2005
Well written account of the financial mess we are in and advice given on ways to limit the fallout. Other significant world events likely to impact upon us all are highlighted and there are examples from episodes in history which we are about to re-visit. Informative but a touch depressing with an "end time" feel to it. Even so....a must read !

giggling;y good, 07 Oct 2008
I bought this to read on a flight, and it was a delightful book. Chas had me giggling so much! If you enjoyed Urban Dreams, Rural Realities then give this book a try, it's not in chronological order, but it flows nicely from one subject to another.

Also pick up more scenes from a smallholding!

Great Read!, 05 Oct 2008
What a great read!! Funny and quite informative if you are thinking of starting a smallholding... couldn't put it down until I finished it and wanted more... fancy finding a book that helps you see what difficulties you might face if you start a new life in the country, gives you helpful hints AND is such a good read that even if you weren't thinking of a move it is just so funny.

Scenes from a smallholding , 16 Jan 2008
This was a most entertaining book. Once you are used the chronological layout, it is humourous, touching and inspiring. I urge you to read it

Best book I've read in a long time, 05 Jun 2007
Scenes from a Smallholding is one of best books I've ever read, simple as that. Incredibly funny, perceptive, thought provoking and motivational. What more could you want?

Learn about one man and his family's life changing experience and have an absolute whale of time to boot!



An Original Downshifter....., 16 Aug 2005
Chas Griffin had an 'Epiphany'in Urban Birmingham and that was that. Chas, wife & children soon swapped grey for green, fumes for fertiliser (organic of course) and a self- sufficient