Tough times are ahead and Talbott argues that the coming recession will be on a global scale, affecting economies across the world. We have had no real growth in GDP for the last ten years if purchases with government and personal debt are excluded.

For more than a decade, bestselling author and former investment banker John Talbott has accurately called many of the major financial crises we have faced long before they occurred. In 2003, he predicted the housing market collapse in his bestselling book, The Coming Crash of the Housing Market. In 2006, he foretold the peak in housing prices and wisely explained Sell Now!, in a timely sequel to his bestseller. Most recently, he insightfully probed the bottom-up economic policies that would guide Barack Obama to the White House in his book Obamanomics. Past is always prologue for Talbott, and his economic reasoning and free-thinking forecasts about the future have captured people's attention. In his latest book, Contagion, he again warns about what once seemed implausible and impossible--the deepest global recession the world has ever seen, one that will forever shake the economic foundations and social fabric of our lives. "Talbott is the author of two books that more or less foretold the pain homeowners are now experiencing. . . . So far many of John Talbott's predictions have been spot-on. But as the housing bust continues, homeowners in my neighborhood and beyond have every reason to hope his prescience proves short-lived." --Daniel McGinn, national correspondent, Newsweek, and author of Home Lust: America's Obsession with Our Homes "When John Talbott's controversial book, The Coming Crash in the Housing Market, hit store shelves in 2003, the real estate industry--and everyone else who stood to profit from the dizzying rise in U.S. home prices--gave it a hostile reception. So, with subprime mortgage loses and credit woes now the no. 1 topic in the markets, what does the former Goldman Sachs investment banker see next?" --Toronto Globe & Mail (September 14, 2007) With the worldwide financial crisis and economic contagion mutating in ways that foreshadow global economic meltdown, Talbott explores the necessary government actions and reforms--and strategies that investors can use--to weather one of the worst financial crises in history. Never have Talbott's predictions been as bold, or his advice about what to do in the future more timely.