"The Second Great Depression"

We have a customer (Warren Brussee) that we do framing for that has written a book entitled "The Second Great Depression" that was published in 2005. Mr. Brussee spent 33 years at GE as an engineer, plant manager, and engineering manager. His responsibilities included manufacturing plants in the USA, Hungary, and China. Keep in mind that this book was published in 2005.
This is a frightening book. It shows how massive consumer debt will trigger the next depression, starting about the year 2007 and ending in 2020.
The exuberance resulting from the overheated stock market of the 90s caused consumers to stop saving and go into debt. Then the dramatic drop in mortgage rates enable people to refinance their homes and go even further into debt. People are no longer living on what they can afford; instead they are living the lifestyle they think they deserve, costs be damned!
In this depression, the United States will be brought to its knees. But not unlike the mythical bird Phoenix that dies in flames and is then reborn out of its own ashes, the United States will also be reborn. However, it will be a poorer and less arrogant country that emerges from its own ashes.
I have read a little over half of this book and what Mr. Brussee predicted 4 to 5 years ago is all coming true, and if all of his predictions are correct we had better buckle our seat belts and get ready for a bumpy ride.
This book is available at most book stores.