The 'Credit Crunch' is not over. In fact, it has barely started. The world is now approaching the final death rattle of the greatest Ponzi scheme in history- a scheme by which the financial industry created a vast overhang of debt, a mountain of low quality assets - and laid the foundations for a disaster which will dwarf anything else in history.So says Mitch Feierstein in his provocative, but realistic assessment of the state of today's global economy. The turmoil of 2008-2009 merely resulted in the massive transfer of debt from the private to the public sector. We're now paying the price. But where will it leave us? Feierstein reveals the true debts of the US government, shows how close Italy is to following the way of Greece - and explores Britain's own finances in grimly realistic detail.There are four possible outcomes for the future. Economic growth (unlikely). Stagnation (probable). Inflation (bad). Or default (disastrous). Which of the four it will be depends on choices that are being made right now - and not always wisely.Feierstein predicts the next steps in this infinitely dangerous game - and offers practical advice on measures which you personally can take to protect yourself and your family.
Mitch Feierstein is a highly successful hedge-fund manager and CEO of the Glacier Environmental Fund Limited. Prior to this he was Senior Portfolio Manager of the Cheyne Carbon Fund, part of one of the largest and best-respected hedge-fund groups operating in Europe. He is regularly quoted in the Financial Times, the Wall Street Journal and the Washington Post, and assists a number of governments with disaster and contingency planning.He lives in London and divides his time between London and New York.