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21st Century Great Global Depression: The Perfect Economic Storm

Orest Andrew Harrison
Outskirts Press, Inc. (2010)
ISBN 9781432758073
Reviewed by Andrey Bilko for RebeccasReads (6/11)

"21st Century Great Global Depression,"  just like the name implies, is intended to scare the reader about the apocalyptical economic crash, which would be inevitable unless urgent action is taken by the American society.

Starting off with a recap of the recent economic crisis, which is still taking place and has taken a major toll on people around the globe, Mr. Harrison introduces the causes to the problem – easy credit, Wall Street crooks, governmental mismanagement of funds, etc. This worrisome truth is backed up by hard facts and examples, without unsupported blabber. Everyone has been affected by the crisis in one way or another, and almost everyone has played a role in accelerating this economic downturn. The excessive consumerism, credit card debt, loans and mortgages, which could not be repaid, are a huge part of the problem. For the most part, Americans lived outside of their limits, living day by day, without much look into the future. This narrow sightedness put the world onto its knees. However, much of this could have been prevented by proper leadership action, explicitly mentioned in the book, quite obvious people. The proper control of the financial sector would have prevented or at least weakened the devastating effects of the crisis. Almost no action was taken by the U.S. government, until after the doom day. And what action has it been! Those at fault were not punished in any way, but even rewarded, while most of the American society ended picking up the bill for all the bailouts and stimuli.

The government and financial sector is presenting the current situation and the near future as very promising with an upwards trend. The author tells the reader an opposite situation. Since there was practically no lesson learned from the recent crisis, without much intervention, a new crisis – “the Global Great Depression” is around the corner. This time, the disaster will have detrimental consequences, possibly destroying America and taking away its prosperity, prestige, and influence. The predictions are incredibly pessimistic and over the top. However, I believe, a bit of exaggeration is supposed to serve as a wake-up call, a hyperbolic call to arms. Action is needed, and the public needs to realize that, making sure their representatives are doing their job.

Overall, the text provides a thorough independent analytical perspective into the economic crisis with an excessively pessimistic foreshadowing of the near future.

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