Business Money Books

This is the best of the four books I chose to look into this topic, easily the most comprehensive and balanced, with a strong ethical component; it shows how the competition for money, rather than scientific progress, is diverting scarce resources and frustrating needed advances.

It does not, however, provide a complete picture. Three other books are helpful:

The Republican War on Science by Chris Mooney is the book that is the most compelling on the perversions of the extremist Republicans (I am a moderate Republican). Read this first or last, depending on your disposition.

Frontiers of Illusion: Science, Technology, and the Politics of Progress by Daniel Sarewitz, is an excellent counterpart to Greenberg as well as the other two books If science is corrupt on the one hand, it is also over-sold on the other, a point that Sarewitz addresses very methodically.

Finally, Investing in Innovation: Creating a Research and Innovation Policy That Works, edited by Lewis Bramscomb and James Keller, brings together a range of views crossing the environment within which scientific research takes place, evaluationg specific programs and policy tools, and making recommendations (all of which have been ignored by the current Bush Administration).

I take three bottom lines from these four books together:

1) We are spending too much on military science & research.

2) Neither Congress nor the Executive have a serious strategy for prioritizing problems, finding private sector partners, and providing seed money for innovative solutions.

3) Both Congress and the Executive, as well as the public and the media, are incredibly ignorant about what science can and cannot do, and where all the money is going to generally poor effect.

4) This is all so important that Science, like Intelligence, needs its own Supreme Court. I am persuaded we need a new form of hybid public agency that is fully independent of the Executive, receiving a percentage of the total disposable budget (say 3%) and hence not subject to Congression pressures.

If you buy only one book, buy this one--but you will be missing important alternative thoughts from the other three.

Daniel Greenberg, a Washington-based journalist, analogizes the American scientific activities after WWII as a metropolis dominated with academic cultures in its core. In contrast to the general conception that the budget for the basic research has been cut since the "golden age," or 1960s, the financial support to science enterprises actually has increased. He argues that the problems in the American science have not come from a deficiency of money but from a self-ghettoized, apolitical scientific enterprise of science itself which only competes for the public money but is ignorant of social consequences of what it does. He suggested more political involvement and enlightenment in the scientific communities as a prescription.

Recent study shows that there is a room for even the "self-ghettoized," "apolitical" enterprises of science, as called by the author, to be admitted to be raised as "the fifth branch" (Jasanoff, 1990) which bridges science and policy through the scientific advisory board. Although tons of conversational examples were presented in the book, many questions remain still ambiguous: for example, how political ignorance was gauged; to what other enterprises it can be compared (if possible); how the political ignorance negatively affected public welfare.

I admire the author's effort to incorporate all the transient newspaper articles and volatile dialogues among the congressmen and the heads of various scientific institutions into a 500 paged book. To read Introduction and Epilogue seems enough for this book, unless you have a plenty of time or historian-like interests in the episodes occurred in the Washington regarding the research policy and budgeting.

With a career's worth of insider observations, Greenberg reports on the modern reality of academic research and its bloated addiction to federal funding. As historically interesting as it is practically and morally discouraging, it should be required reading for all prospective graduate researchers. References are dissertation quality.

Washington investigative journalist Daniel Greenberg fills the 500 pages of this book with stories of how science puts material concerns ahead of ethical concerns, resulting in that which is not always in the best interests of society. Indeed, ethical erosion in science, with a corresponding abdication of social responsibility, seems to be inversely related to the chase for money. For many scientists, the pursuit of money has become the primary motivation, with concern for the moral and social good largely ignored.

Science can be funded from governments, from industry, and from universities. Of course those who supply the cash flow can determine the type of research and in many respects the outcome of the research. One just has to think of the enormous budget given over to AIDS research, while other less glamorous (and less politically correct) diseases go begging for funding.

The life sciences (medicine, biotechnology, pharmacology, etc.) is a good case in point. For example, pharmaceutical firms often misrepresent and inflate scientific data for regulatory approval, and to influence physicians to prescribe their products to an unwitting public. One way to achieve this end is to duplicate publication of experimental data to give the impression of widespread scientific backing.

Greenberg offers other examples of bad ethics in human experimentation, and notes how the biomedical research community was aware of gross inadequacies in monitoring scientific experimentation and quite content to let the situation remain that way. The examples demonstrate that what is done in the name of science often seems to be above regulation, accountability and ethical review.

And it is not just science that gets tainted with money and corporate influence, but knowledge as a whole. Thus corporate greed and the limitless pursuit of profit seem to negatively effect everyone within reach, and it is not scientific objectivity alone that suffers, but learning as well. No wonder why certain bioethical debates seems to be so one-sided. The recent stem cell debate is just one example where Big Biotech is buying its way into science and the media, regardless of the outcome for the rest of society.

And Greenberg notes how the popular press acts mainly as a puppet of science, especially biomedical research. It routinely pumps out what is told to, without asking the hard questions it does of politicians and others. This is indeed the case with reports of scientific-medical progress. Greenberg calls this "may" journalism. Stem cells may do this. Cloning may do that. Gene therapy may deliver the goods. We are wowed by reports of potential medical breakthroughs, but they are just that: potential. However, the way the media presents them, it seems like a cure for Parkinson's disease will arrive next week. Thus we find a collusion between certain scientists, various industries (eg., the Biotech industry), and a gullible and/or subservient media.

And of course this collusion acts as a giant feed-back loop. Journalists need good news stories, and scientists and the corporations need people to think they are just on the verge of a major medical breakthrough, if only a bit more funding were forthcoming. The one feeds of the other, and a disease-weary public, believing that immortality is just around the corner, will go along with it. And governments also get into the act, claiming that if we over-regulate things like cloning or stem cell research, all the research will move interstate or overseas, leaving them behind. So there is a grand mingling of state, corporate and public interests taking place, making it even harder for science to claim any sort of neutrality and objectivity.

If religious leaders and politicians today are subject to intense scrutiny and ethical appraisal (and rightly so), then perhaps it is time to extend the same treatment to scientists. And one place to begin is by reading this important and timely book.

There are a couple of things about this work by Greenberg that struck me as significant, and added to the fact that the book is very well written, it makes for a very compelling read. Even after many years of scientific journalism and working within the industry Greenberg says that the scientific enterprise makes him "feel like a stranger in a strange land." This is no idle boast by someone trying to tout his credentials as an objective observer and skeptic. This is in fact precisely the perspective that Greenberg uses throughout; this arms-length approach allows him to come up with some rather perceptive insights and useful recommendations. The second point of interest, and something for which the scientific community should be commended, is that generally this book has been quite favorably received. Many times when an "outsider" reports on some subject, the first, and oftentimes the only point, aggrieved professionals focus on is that he's not an "expert", or he's a "non-specialist". That doesn't seem to be the case with most of the commentary on this book from the scientific community. And make no mistake, there's enough damning evidence here about the volatile mix of SCIENCE, MONEY, AND POLITICS and the resulting mess of "Political Triumph and Ethical Erosion", that it would be normal to expect self-defensive counter criticisms.

Greenberg traces the changing role of science and its relationship with politics, roughly since the period following WWII. Long gone is the era of the prominent presidential science advisors. Today it is money that dominates the scientific agenda. The chapter on the National Science Foundation (NSF) and its claim a few years ago that the country faced a shortage of tens of thousands of scientists is illustrative. Greenberg shows this lobbying effort for increased funds as a knowingly false issue pushed by a merger of institutional and academic interests. Greenberg quotes a US Office of Management & Budget Report which had this to say about scientists: "They are the quintessential special interest group..."

He has much to say on the inflated claims of many projects. Although he specifically mentions the aborted Superconducting Super Collider (SSC), it is clear he views more recent projects such as the Human Genome Project, and cloning, in the same light. Greenberg doesn't allow the book to end as a mere polemic though. He makes an interesting recommendation for the conversion of the NSF into a National Science, Engineering & Humanities Foundation. This is more in recognition of the need for a new "ethic" rather than as the desirability of conflating all knowledge to scientific methods as some scientists (E.O Wilson in CONSILIENCE) have recently called for.

Regardless of where you are in the sciences this book is sure to affect you. Many of the excesses and cases of influence and false claims are known about, and more importantly have already been condemned by well thinking professionals. Nevertheless by presenting it in such a readable format Greenberg will enjoy significant readership among the skeptical public. This at a time when science is engaged in the most far reaching issues for humanity, only means that scientists can expect more questions from an interested, and much better informed public.

* This is not a common book explaining on ways to make money but the tips and strategies it used really has help me on how to find a really cheap product and sell it high.
* After reading this ebook, I make lots of profit from my eBay business.
* I wish I had read this book earlier so that I make money at home when I was young.
* Trading is a good business in nature. The best thing of all you may not need your own product at the beginning. This book will help you where to get that cheap product to sell.

It is a practical book. Useful tips. If the pictures in color would be better.

Reviewed by Josef F. Buenker for Reader Views (2/08)

I don't know if I'll actually ever do it, but this book made me want to buy things in order to sell them on eBay. Daren and Nancy Baughman, the authors, are in the auction, resale and eBay business. Nancy's (she seems to be the primary author) interest and enthusiasm for her business clearly shows.

Although in certain parts the book had some spelling and grammatical errors, the author/editor's apparent reliance on spellcheck does not detract from the book. "Buy It, Sell It, Make Money" does a nice job of explaining the business of buying and selling "luxury" goods - the term "luxury" being determined by the reader's own lifestyle. Whether one is interested in trading up an item he or she already owns by selling it and buying a better model or one wants to acquire something new, this book could be of great assistance in the process.

After a general explanation of the best venues to acquire and sell various types of items (buying and selling furniture is somewhat different than dealing in modern art), the authors give the reader a very handy guide to the best brand names in a number of common "luxury" item categories, ranging from art to clothing to jewelry to toys.

This book was an interesting read. Anyone who has ever had aspirations of being in the resale or retail business will probably find "Buy It, Sell It, Make Money" interesting.

This is a great book that I recommend. I purchased the book for the guide but it provided so much more. I have been selling on eBay part time but was always in need of things to sell - NO MORE. Thanks to this book, my husband and I went to our first storage shed auction (recommended by the authors) and we purchased one full of great things. Inside the shed we purchased are some great antiques, some very nice china, some English porcelain figurines, tools but the best was a jewelry box. The jewelry box had 2 14kt gold necklaces and a 14kt gold ring with a beautiful ruby. It also was filled with tons of very nice costume jewelry! We are going to make a ton of money off this one purchase - thank you Daren and Nancy for this wonderful book - I Bought it - I'm selling it - and I am MAKING MONEY -- YA

My husband and I have been selling on ebay for about three years now, and we're always looking for new information to help improve our business. This book gave us a lot of great ideas which we put into action the first week after reading. It's an easy book to read and understand, and we both couldn't put it down until we were finished reading. If you're not into ebay, it also gives great advise on other avenues for selling your goods. Buy this book, you'll be pleased!

This book is written by Dan Perrin and Pat Rooney. Pat has been called both "the father of Medical Savings Accounts" and "the father of school choice." He's a well known maverick who comes up with ideas that seem incredibly radical, and after they are adopted, everyone thinks "Well, that was obvious." Well it's not when Pat first thinks of it.

If you only read one chapter, read chapter 5. In it they outline a plan for the government to pay for health insurance for everyone who doesn't already have government sponsored insurance with a tax credit. This isn't the typical "let's spend more of the taxpayers money because it's free." They want to pay for it by discontinuing the tax givebacks which in 2008 are estimated to be $260 billion.

The three things that make it work are:
1. It is refundable - you don't have to owe taxes to get the money.
2. It's advanceable - you don't have to wait for their tax refund to get the money.
3. It's assignable - the government can pay it directly to the insurance company.

I'm an herbalist and a naturopath, so I prefer that people exercise, eat right, take their vitamins, minerals and herbs and stay out of the doctor's office and the hospital. But there is a time and a place for western medicine. It is so expensive that you do need health insurance in case something catastrophic happens. In this book they are recommending that the government pay:
* $5,000 a year for a family.
* $2,000 a year for an individual.

This is the most logical plan I have heard. I would much prefer this to the nationalized healthcare that is seen in other countries where they ration healthcare because of budget constraints.

If you do not care of the problem America faces with skyrocketing healthcare cost and if you believe that Hilary will provide the nationwide healthcare in her second round by commy-style "rearranging" the cost burden from big and wealthy to small and poor, or Barack-the-illusionist will miraculously insure US 47m uninsured with just a touch of his made-in-harvard magic stick.

Don't read this book!
If you never heard about Romney-care in Commonwealth of Massachusetts and have no idea why the ill-thought attempts of mandatory health coverage is doomed to failure and you do not care what sound foundation of healthcare reforms should look like.

Don't read this book!
If you are happy with your medical bills as if they were as transparent as, say, your car service estimation invoice...

Don't read this book!
If you strongly believe in free healthcare and prefer to muenster cheese - mousetrap cheese.

Don't read this book!
If you do not care about imminent election healthcare bloody battle.

Don't read this book!
If you do not care about your healthcare.

Cause, then,
You're already dead...

Why does the government only create shortages and surpluses? The answer is quite simple: by subsidizing producers, the government gives producers an incentive to increase supply above actual demand, creating a surplus, and, by subsidizing consumers (including health care consumers), the government gives consumers an incentive to increase demand above the actual supply, creating a shortage, or, in the case of our health care system, a crisis.

This book outlines a plan to give consumers an incentive to reduce their demand while assuring themselves of proper health care. This book is brilliant in its simplicity.

America's Health Care Crisis Solved: Money-Saving Solutions, Coverage for Everyone is very rare book. Unlike many others on the subject it is very easy to read, very easy to understand and very hard not to believe in. It goes to the root of the well-known domestic problem and hits the nail right on its head. The authors were writing this "compact" book with their lives. Legendary civil-rights champion Pat Rooney and known inside the beltway "locomotive" - Dan Perrin, dedicated their lives to do something decent and worthy in most not-transparent business in the US - murky health insurance world. They brought in "fair-care" approach,. They unmasked the hospitals "Wonderland" world where consumer's dollar devaluates and fluctuates in accordance with woodoo practices of the greedy managements.

Because of their sustained support and dedication the long legislative struggle finally gave birth to most appealing and sound healthcare product of the new century - Health Saving Accounts - HSAs. But what is their more important achievement is, that they did their best to unlock insurance best secret kept Pandora box and clear the way for further conservative healthcare innovations which so far is known by the term - Consumer Driven Health Care.

This laconic, as only the truth could be, book is a must-to-read book for healthcare crowd and bankers, politicians and everyone who is not indifferent to challenging future vis-à-vis most painful domestic problem. Unfortunately, like almost everything in our global world, healthcare crisis is also global. It is not exaggeration to say that there is no country on the face of the earth whose healthcare system is not in crisis. (I do not mean the very poor countries - they do not have healthcare at all). Great Britain calculated that if no changes made in couple of decades their GNP will be not enough to cover healthcare cost. Same problem in famous for its free healthcare - Canada, European countries and other's in developed world.

America remains the only super-power not because we produce more say, sneakers, but because we produce more technologies second to none. America's Health Care Crisis Solved unleashes innovative creativity not only domestically. Other countries working to solve their problems always were looking at us. And this book is a good beacon in eternal struggle - individualism and freedom vs. collectivism and so called equality. Strangely enough, let's admit, that this struggle is most pronounced here in the United States. Ironically, Hilary-care phenomenon could not even exist in former Soviet bloc countries. Because they do not want to hear about variations of governmentally managed "free" healthcare systems. They are sick of it, they've lived under it. No wonder countries like Poland, Czech Republic, Kazakhstan and others are in a process of adopting consumer driven healthcare approach including medical saving accounts.

For them America is still a beacon, and therefore for me authors of America's Health Care Crisis Solved are Great Americans, indeed.

TG - former recipient of Soviet "free healthcare"

I just got this book and found it to be very helpful. I've spent a lot of time and effort researching health care and the different options but i keep finding two problems:

1) Nothing makes clear sense and much of the book it is above my head
2) The answer is usually politically charged

I found that unlike the other books I read, this one was very easy to understand and the argument was very balanced. I have to say I highly recommend it.

Well written and enjoyable - not a easy thing for such a potentially droll subject. Made a living shutting down oil companies for a while - now I know why.

As one who lived through this, and is trained in economics and finance, and knew several of the individuals of the era, I enjoyed this book, but found it not as thorough nor displaying a comprehensive grasp of the context of the times as it could have. I felt like the author was striving more to be entertaining and engaging, than to provide a comprehensive historical record or in-depth economic analysis. I would recommend Philip Zweig's "Belly Up, the Story of Penn Square Bank" in its place for those seeking a more in-depth history. Zweig's book is better researched and also does an excellent job of communicating the flavor and energy of those years. I might give Singer's book a 3.6, but I think a 4.0 is too high.

Mark Singer has written one of my favorite books ever. It is simple to read and simply hilarious to think that a bank in a shopping maul almost brought down the entire banking industry of the United States and hence the world. Mark Singer's understanding of how this happened and the characters involved in the fiascal leaves the reader with a more profound and terrifying idea of what makes the world go round.

As someone who has grown up in Oklahoma City and graduated from high school the year that the collapse had happened, I knew of some of the persons involved through other people.

The red piggy bank logo belonged to Sooner Federal Savings and Loan, and sat on top of 50 Penn Place.

Penn Square Bank had built what is now known as The Tower a couple of blocks down the street. They never moved into it, they were shut down while they were still inside the north end of Penn Square Mall, and the building was finished out after the closure.

Singer has relatives here in Oklahoma in the oil business, so he had some insight into the things that had happened.

If you want more detail, Belly Up goes into much more greater detail and is harsher in it's treatment of the characters involved.

Growing up in Oklahoma my only real memory of the Penn Square Bank failure was when they pulled down the red-piggy-bank logo from the top of the building. It was something that was talked about on the national news every evening, but it wasn't well understood just how such a small local bank could cause such a ruckus.

Mr. Singer's book explains what was at the bottom of all of the trouble, how Penn Square fell from grace, and in the process of doing so provides interesting commentary on Oklahoma culture, as well as some history and other facts pertaining to the oil business. The book is very well written and quick paced, providing just enough detail to be considered in depth, while not languishing on unnecessary detail.

It is interesting to remark that the same conditions that caused everyone to say oil at $100 per barrel was a no-brainer are those that caused people to put forth the indestructible nature of internet-retailing. The Okiesmo of wildcats in pursuit of oil bears striking resemblance to the aggressive idiocy of venture capitalists fighting to put money into business plans that ignored common sense.

This book is satisfying on a lot of levels, the depth of information on the figures behind the bankruptcy, the environment that spawned and incented those figures and also the culture, both nationally and locally, which created this collapse. This is a very interesting book, and I highly recommend it.

Yes, it's the better Construction Project Management Book I have ever read, and I can say that I've read some ones. As the autor states in the second paragraph of the Preface, the book focus on the mental side of CM rather than the technological side. It is, what you will get from the book is the behavioral aspects of CM, the knowledege you need to better manage your construction projects.
One very good thing I found in the book was the indication of what kind of bibliography, and the right titles, the CM might have in his (her) library. By the way, I could read some books recommended by Ritz, and I can say that the autor have the very reason recommending those tittles.
I recommended the book to my friends, and recommend it to all of you, because it is one that devote to the every day tasks of the CM, one book that let you to research the way you have to apply the principles stated by the autor. He just direct the way the reader have to behave to be a successful CM. Definitively this book is a must in a CM's personal library. Read It.

Easy and comprehensible step by step guide to project management, very helpful for both experienced and entry level project management engineers

This book has the basic knowlegde tha every CM must know, its easy to read, and it give you a better and required professional overview of construccion projects.

This book breaks it all down. Time management, budgeting, dealing with staff and technical issues. For those in the field already, its a refresher and a confirmation of what you're doing. For those new to the field, it can serve as an operations manual for guidance. Appendix B that describes the job description is invaluable.

If you want excellent ideas, based on common sense with easy to understand and entertaining analogies then look no further. Chellie has a wonderful way with words that inspire and endear you to her at the same time. Her philosophy on life is one that I totally identify with, and there are lessons everyone can learn from reading this book, whether you are looking for financial help or not. I feel sorry for those people who `don't get it' for whatever reason as they are obviously missing out somewhere in their life.

Chellie helps us all to discover that wealth is an equal opportunity for all! If money were a math problem, our nation would not have so many highly educated people so far in debt. We all learned basic math in elementary school. In our culture, money represents value, power, worth, and wealth. Our debt problems are an outward manifestation of the lack of those things inside of us. I cannot believe how many people I know with a PHD or more than one master's degree who are still living in debt and poverty. Until we learn to find our wealth and power inside, we'll live a life of poverty. Chellie Campbell shows you the path to true wealth. This book is life changing, and I often give it away as a gift! I always have several copis on hand on my gift shelf. I also highly recommend Chellie's other book The Wealthy Spirit and Money Magic by Deborah L. Price.

This is a very well-written practical book for improving your finances and building a business. There are no exercises, no miracle cures, just good practical advice for taking action to improve your finances and build a business. I would recommend it to anyone.

Excellent read! As a small business owner it is keeping me on a positve path. I started to feel better about myself and my business as soon as I started to read this book. Chellie is a creative writer and I appreciate her sense of humor. She shares her ups and downs on here way to becoming a Zillionaire, helping me to realize I am not alone out there on my path to success. This book takes the "Laws of Attraction" and applies them to your work and/or business in a practical way. I enjoyed this one so much, I purchased her first book, "The Wealthy Spirit." I highly recommend both books for anyone who is looking to change their financial situation towards the positive.

This starts off well, with a very rational explanation of why affirmations are useful--they help direct your thinking and allow you to project confidence, which makes others want to do business with you, and causes you to make effective choices. In other words, it's not magic that makes you successful, it's you who make yourself successful. And her premise about "sending out ships" is a potent metaphor--you must send out ships, both large and small, every day for your business to grow (this means networking, making follow-up phone calls, advertising, giving talks to groups, or anything that can bring in business).

But then she veers off into the land of magical thinking--stating that positive words alter the molecular structure of water (a claim that has been thoroughly debunked), negative words cause jars of rice to rot, and a bunch of other hooey...

AND, worst of all, she seems to endorse multi-level marketing as a viable business option. Most, if not all, MLM companies are, at best, not very profitable for the majority of people who sign up (at worst, they are total scams). See this <[...]> for a clear explanation of why the MLM model doesn't work. No reputable financial advisor would suggest MLM as a business for extra income.

THIS IS A GOOD BOOK, FOR FAMILIES OR INDIVIDUALS WHO ARE SERIOUS ABOUT CREATING AND STICKING WITH A REALISTIC BUDGET, IT CAN BE A LITTLE OVER- WHELMING, BUT OVERALL IS A RESOURCE BOOK TO KEEP

I bought this book several years ago and since then my financial and spiritual life has changed dramatically. I found that once I looked at my finances as a spiritual matter, I was able to gain control of them as an act of obedience to Christ.

The workbook is a great first step toward financial discipline. Budgeting and sticking to your budget is key. Once you live on a budget, you will never stop. The freedom living on a budget brings is phenominal.

Don't ever think you don't have enough money to establish a budget without breaking it, because in reality, you just don't have enough money to live without a budget.

This is a great book on personal finances. I would highly recommend it.

3 stars for its entertaining value, 2 stars for its real worth. The author seems to lack some understanding of macroeconomics, as mentioned in other reviews.

What made Wall Street Meat entertaining were the personal anecdotes regarding his contact with various well known personalities. This book starts in a similar vein, with stories about his efforts to raise money for his hedge fund. Then the book seems to completely lose its focus. It turns first into a high level history of the industrial revolution in England, and then into an economics lesson. The history is circumstantial and of questionable relevance. The economics is pure poorly thought out drivel. This stuff goes on for chapter after chapter. Had I written a review after the first few chapters, I would have given the book four stars. After finishing the book, I think I'm being generous giving it two stars.

It's entertaining, interesting, and well written. Not much investment strategies, but fun reading!

great informative book!

This book is a real letdown. As other reviewers noted, he wasn't running a typical hedge fund strategy. He just bought and held tech companies, either public or private. And he did this during the .com boom. He had the sense to wind down the fund before the crash. Gosh, he made a lot of money. As I think he himself says, never mistake talent for a Bull market.

You don't find out much of anything about his approach, because I don't think there was much too it.

The chapters jump around without much coherence. He seems to be building up to a point, leading to a big 11 page section that entirely in italics, in case you were going to miss it. We have higher margins than the developing world, so the trade deficit doesn't matter. That's it.

One of the least interesting books I've read this year.

1. States are required to balance their budget. 2008, forward will see big cuts in spending and tax increases at the state and local level. A switch from government hiring to firing is likely.

2. Consumers will react to debt burdens by tightening their belts and/or defaulting.

3. The federal reserve responds to slow-down in consumer spending by lowering interest rates, to ease the burden of the heavily indebted and to induce the rest of us to borrow more.

4. As the Fed cuts rates the dollar declines.

5. For the housing boom to continue, home owners will have to borrow more money, as a percentage of their income; interest rates will fall further in record low territory; foreign investors will have to keep financing our trade deficit by buying more Treasury and mortgage backed bonds at historically low rates.

6. Mortgage rates will stabilize and refinancing activity gradually drives up and cash-outs become less attractive, as borrowers are saddled with higher payments. Without the ability to borrow against ones property to buy another, home owners will buy fewer second homes and rental properties, and the home-building market will contract. After some initial stickiness, home prices will begin to fall, slowly in stable markets, and precipitously in overheated ones. Fewer jobs will mean fewer home-owners and few jobs in the housing-related industries.

7. If you think a given stock is heading for a fall, you can enter a sell order with your broker. Later when the stock has dropped, you can buy it back and pocket the difference. This is known as selling short. This is a way the hedge funds and investor play overvalued markets. Dangerous. Shorts are vulnerable to buying panic called short squeeze, where a large number of short sellers try to cover at the same time, forcing the price upwards, taking away profits. Sell and watch compulsively.

8. In 2003, Fannie Maye and Freddie mac had $2 trillion in liabilities atop less than $1 trillion in mortgages. Loan defaults could quickly turn Fannie and Freddies spectacular growth and call for a government bailout. Short sellers would quickly take 50 to 75 percent profits.

9. The derivative business is easy to enter and almost impossible to exit. A derivative is a contract that derives its value from something else. The function of a derivative is to divide the risk associated with the underlying asset into pieces, allowing them to be sold to different people. Stock options are purchased contracts to buy or sell a given stock at a certain price. Future contracts work the same way for commodities like wheat or silver. The farms eliminate risk caused by low prices in the future and give up a windfall if the prices soar. Both parties make and acceptable profit while eliminating threats to their survival.

10. The new derivatives are interest rate swaps, currency swaps, total return swaps, credit default swaps, portfolio insurance, and gearing.

11. A hedge fund might put $100,000 investment to borrow $1 million and then buy derivatives (10 to 1 ratio). Bear Sterns ratio was (1:165). Suppose the derivative is a future on gold. The hedge fund would control $10 million in gold. If the commodity raises by 10 percent, the hedge fund would profit $1 million. If the price falls by 10 percent, the hedge fund is wipe out by $1 million. Long term capital management had $3 billion in equity, $140 billion in debt, and $1.25 trillion in derivatives exposure.

12. If citigroup has $1 trillion in derivative exposure, then people on the other side of those deals - the counterparties- are dependent on Citigroups ability to make good on its obligations. In a system where insurers and insured may be one in the same, the ability for counterparties to depend to make good on their obligations

13. The idea was to attract new cash, which banks could use to make more loans; this would free banks from dependence on local depositors, smooth out credit cycles, and make mortgages more affordable and accessible. GSE gave birth. The Federal National Mortgage Assocation (Fannie Mae) and the Federal Home Mortgage Loan Corporation (Freddie Mac) were enabled to buy loans originated by banks, bundle them together in bonds, and sell them. Loans were converted into securities, so they can trade like bonds. Fannie would give the mortgage backed security a contractual promise to pay interest and principle should the mortgage holders default. A broker then sells the bonds to pension funds and mutual funds.

14. Doug Noland says, "Fannie can give a money market fund an IOU (commercial paper), take that money, and use it to buy mortgages. Whoever sold that mortgage deposits the proceeds into a money market fund, and because there's no reserve requirement, Fannie can go to that fund, give them another IOU, and spend it again." The only limitation is the ability of banks and other originators to find people willing and able to buy and/or refinance a home. Between 1995 and 2001, $5 trillion in mortgage loans were sold. Fannie Mae account for 35 percent of all the money that flowed into home mortgages. Nolands says, "We now have a real estate economy." Fannie Mae has derivatives obligations totaling $533 billion, primarily for interest rate swaps and Fannie has liabilities in excess of $2 trillion.

15. Between 1990 and 2001, the total national debt equaling debt of government + business + household borrowing reached $32 trillion. Assuming a $10-13 trillion, US GDP. Oversea Trade deficits accumulating at $435 billion, in 2002 in trade deficits. The dollar value dropping against gold, euro, and the yen and imports became more expensive. As interest rates dropped, between 2000- 2002, foreign direct investment declined from $250 billion to under $50 billion. The fed had to raise interest rates to save the dollar and consequently pop the real estate bubble.

16. What determines a currency value? The profit a foreign investor expects to make when they buy a stock, bond, factories, and buildings. Secondly, a country with low taxes, cheap, well trained workers, and clear laws making it easier to make money. When you buy a bond denominated in yen or euros or dollars, you get the interest rate that prevails in that market. The bond interest rates determine the attractiveness of the bond to foreign investment.

17. Despite risk and complexity, shorting is the purest, most popular way to profit from a given stock's overvaluation. If the housing bubble burst, it will throw in reverse all the forces that made Fannie and Freddie titans. Insurers will be unprepared for inevitable spike in defaults.

18. The obvious winner in a bull market is the investment industry composed of 70 firms with a market value of $270 billion, in 2003. The big Investment banks include Morgan Stanley, Bear Sterns, Merrill Lynch, Charles Schwab, and Goldman Sachs. Investment banks survive when investors keep putting their money into the game.

19. Credit card companies are logical short candidate. Mortgage lenders have become just as reckless. There is a threat of rising defaults from the newest customers, which are only prevented from becoming a tidal wave by availability of home equity loans and new credit cards. More stringent government regulation is limiting the use of late fees, high rates and other tricks for milking low-income customers. A slow down in credit card debt will be followed by a collapse in the credit company's market value.

20. The big banks don't do well during the early stages of recession. Even though the big banks have handed most of the mortgages they have originated off to the packagers, they've kept enough mortgage debt on their books to cause them trouble when defaults begin to rise. Other lines - auto, business, and personal loans, and investment banking and securities trading - all depend on consumer willingness to borrow and/or market's appetite for more structured finance deals. GE capital has become one of the world's largest banks.

I bought this book in 2004 when many reviewers' were arguing that there was no real estate bubble. Now in 2008 it looks like the author was correct. If you read discussions on the website www.zillow.com , there are many people there who should have read this book. Had they read the book prior to 2005, they could have bailed out before the crash.

Reading this book now is a waste of time.

Two years ago I purchased Mr. Rubino's book. Back then the housing bubble was a seldom-discussed topic. For me, the information and advice made absolute sense. We sold our 5 acre property in Oregon and moved to be close to the kids. We are debt-free, have money in the bank, and will rent until the insanely high house prices decline to a reasonable level. Thank you Mr. Rubino. I could not be happier that I took your timely advice!

If this is the first time you've thought of or talked to anyone about real estate, it's worth a read. You get some history. If you've read any newspaper, magazine or book about real estate in the last year, you don't have to read the first 3/4 of the book. It's the same stuff over and over again. The last part suggests stock picks, buying gold and holding cash. Financial advice should probably not be taken from a journalist anyway.

If you're a contrarian, doesn't the bubble only burst when people say it's not going to burst?

First of all, a correction for the review from David "Pudd'nhead" Wilson. Graphing Total US Debt to US GDP shows that it was flat around 1.40 from 1955 to 1981, then exploded up to 1.85 by 1986, flat at 1.85 up to 2001, and *most ominously* has been rising steadily each year .. 1.84 in 2000, 1.90 in 2001, 1.96 in 2002, 2.01 in 2003, 2.05 in 2004.

Get your facts straight before you shoot your mouth off!

Otherwise, this book is interesting reading for most mainstream investors who are bullish on real estate given the last few years' outperformance. For most financial professionals and goldbugs, this won't be anything new and you are probably better off cosying up to something anti-fiat-money like Conquer The Crash, Financial Reckoning Day, or Tomorrow's Gold.

Michael Rubin has provided and delivered an effective roadmap to navigate the increasingly complex landscape of personal financial security. Beyond Paycheck to Paycheck disperses uncommonly good sense in an interesting and easily understandable way. Bravo!

Have questions about money, finances, wealth (or the absence of it!!) This is the book you'll wish you read a long time ago. I went from not even knowing I didn't know, through to moving in an excellent direction in comparatively no time at all (especially considering the years it took me to get as far wrong as I was!!) The Authors use of conversational writing coupled with enough humor to keep us non-financial types interested is nothing short of amazing. This book is not only an easy read but also an excellent gift. Again, THANK YOU Mr. Rubin

This book has helped clear up all the mystery that seems to surround the world of finance. Finally I completely understand stocks and the stock market. Of all the finance books I've read this one is the keeper.

Other books may be good to spur you on towards saving and investing - this one educates you.

'Beyond Paycheck to Paycheck' is going to be my gift of choice to highschool and college graduates, and maybe even to new parents so they will start saving, even a little bit, for their child's future education.

I'm a 29 y/o -- I point that out because while I did not really take anything away from this book, someone 21/22 years old straight out of college may get a thing or two from it. It covers the basics of saving money, retirement plans, etc...

Having read both Dave Ramsey's "Total Money Makeover" and this book, I must highly recommend "Beyond Paycheck to Paycheck" to you.

It covers, in detail, many different aspects of personal finance (insurance, taxes, paychecks and 401(k) considerations, investing, debt, etc.) while maintaining a sense of humor throughout. Although "Total Money Makeover" does get one motivated to get out of debt, it does not supply the thorough education and background, which "Beyond Paycheck to Paycheck" does so well.

If you are looking for a basic/intermediate personal finance education- this is the book to start with. It is very practical and no-nonsense, without angrily clubbing you over the head with words like "stupid" and "idiotic" (as Mr. Ramsey likes to do in "Total Money Makeover"). Also, this book has a useful appendix with helpful websites and a glossary of terms.

A great read! Thank you Mr. Rubin!