Financial crashes are a necessary part of capitalism, as the market occasionally needs to "reset" itself. Some crashes are relatively minor and short-lived. Others, like the Wall Street Crash of 1929, are devastating, depression-triggering events. Many, like the Great Recession that commenced in 2007, are worsened by improper economic policies.
Professor of economics and money manager Carl Hafele warns readers that, unless U.S. economic policy changes, and changes soon, the nation is heading for a cataclysmic financial crash on a scope not seen since 1929. Using historical market crashes as examples, Hafele proves that sound economic policies lessen the frequency and severity of financial crises, and explains how our current economic path and policies are both unsustainable and alarming.
Hafele's warning has significant implications for investors looking to weather the next market reset. Perhaps more ominously, he demonstrates current Keynesian economic policies threaten more than the nation's prosperity by undercutting democracy itself.
Thought-provoking and often chilling in its implications, The Inevitable Great American Reset also offers hope. We can minimize the impact of the next financial crash-if we act decisively and quickly.
About the Author: Carl W. Hafele is a money manager, professor of economics and finance, and an avid student of economic history. He became fascinated with the economic and personal consequences of financial crashes as a child, when he learned his absent grandfather "went down with the Crash" of 1929.
A former CEO and portfolio manager at National Asset Management and later INVESCO, Carl's three decades of financial experience include managing over $20 billion in assets. He teaches investment, business, and economic courses at Bellarmine University, has taught on the international level, and is currently a Financial Consultant at First Kentucky Trust Company.
A Chartered Financial Analyst and Certified Public Accountant, Carl received an MBA in finance from Xavier University. He coaches basketball and soccer, is a private pilot, and a member of numerous philanthropic organizations. Carl and his wife, Marianne, enjoy travel, exercise, and "having a blast" with their seven children.
