Jubilee on Wall Street: An Optimistic Look at the Global Financial Crash

Excellent book for those wondering what is going on in the economy and how the free market will deal with problems better than government. Practical as well as theoretical.

The media is filled with talk of potential black swans. Lots of analysts think the markets could crash all over again. Massive debt, including sovereign debt, has most of us nervous. David Knox Barker interprets the big picture in this book, his third edition in the series. He's well-known for making some accurate assessments in his earlier two books.

Evangelist Billy Graham wrote the forward. Barker is married to Graham's granddaughter.

This third edition of Jubilee on Wall Street explains why analysts of the Kondratieff Wave (the "K Wave") believe the economy is going to experience another deflationary crisis. It has to do with the painful process of discharging debt. Barker thinks we'll see a bottom in the economy and markets in 2012. Once the debt is discharged one way or another, the economy can begin long-term growth on surer footing.

Barker is optimistic because of the size and strength of the emerging markets. The statistics on this are impressive. He feels the main danger is getting into trade wars. He says the US is exporting deflation at the moment, forcing other nations to respond defensively to prevent their currencies from appreciating and ruining their export industries.

The hard lesson that Barker gives Americans in particular is that we're going to have to implement an austerity posture just as all the pundits are saying Greece must do. In other words, our situation is similar to that of Greece in that we'll have to demonstrate fiscal discipline in keeping with creditor demands. Creditors that buy and hold Treasuries want to see an American austerity policy. The other alternative, raising taxes, is not an option this time according to Barker.

Jubilee on Wall Street does not give us hope that China can be spared a major debt collapse or that the emerging markets are strong enough to carry us through without a big worldwide debt discharge. If Barker is correct, and he has been correct in major ways so far, there will be another market collapse.

Apart from the K Wave perspectives offered, Jubilee on Wall Street renders opinions on long wave investing. I think this book is likely to be considered a classic, especially if Barker's predictions come true again.

An optimistic viewpoint that is plausible is just what I have been looking for. This author explains in a reasonable well researched manner how we have a very good chance of emerging from this predictable crisis stronger. Just what this father of a beautiful 4 year old girl needed to hear !

This is by far the best, most detailed, book I've read on the Long Wave. In addition to text, it includes many charts and tables to substantiate what the author is writing. I cannot recommend this book highly enough.