The Ten Trillion Dollar Gamble

The main thrust of Koesterich's (The ETF Strategist: Balancing Risk and Reward for Superior Returns) new book is his advice for sound personal investing in the shadow of the advancing tidal wave of U.S. debt and the collateral damage to follow. After lucidly discussing the past and the future of that debt, he outlines the economic consequences of unrestrained state profligacy. He contemplates what should happen (higher inflation, slower growth, etc.), why it should happen, and where to look for signs of escalating problems. Specific indicators, data sources, release dates, agencies, and websites are named. Discussion of debt's consequences morphs naturally into financial advice, as the author encyclopedically catalogs various asset classes along with how they would perform in "a deficit debacle." Koesterich not only recommends what investors should consider for their portfolios, but also covers why they should buy assets and how. This is not a quick general investment lesson but a helpful, methodical "financial playbook" for realistic investors.