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A Free Press For A Free People Shredding official spin, happy headlines Economic forecasting author predicts big trouble ahead WASHINGTON (Nov. 2) — Reports of a third-quarter spurt in the GDP sparked rounds of self-congratulatory backslapping at the White House and Congress and prompted a few economists to pronounce the recession ready for Last Rites. But a keener eye detects a tale that supports the jarring thesis put forth in The Return of the Great Depression—a new book by economic forecaster Vox Day. Recent reports show: Housing sales screeching to halt; Businesses smacking into credit blocks; Jobless rate tipping toward 10 percent; Massive sell-offs stifling Wall Street. Published by WND Books, The Return of the Great Depression presents in sobering simplicity a frightening, data-supported economic prognosis that reads like a grim Freakomonics. With the ebook going for $1.99 at Scribd.com, the title is hugely popular and among the few items consumers are racing to buy. If you would like to receive a review copy of "The Return of the Great Depression," or if you would like to interview Vox Day, call Tim Bueler at (530) 401-3285 or send email to media@wnd.com. Adept at tracking economic trends with hair-raising accuracy, Day warns against the seduction of false hopes and "good" news—especially when policymakers promise to repeat the mistakes of the past, such as: Artificially holding down interest rates—which the Federal Reserve continues to practice; Mortgaging phony fixes—like Cash for Clunkers and stimulus spending—with government programs built on debt-borrowing with zero investment incentivizing. During the Great Depression, few recognized the severity of its symptoms for more than a year, Day points out. And many "experts" jumped to declare it dead too early, pushing policies that only prolonged its impact and strengthened its destructive power. Neither a financial survival guide nor a beat-the-markets self-help book, The Return of the Great Depression provides some desperately needed economic perspective, providing vital new insights, including: The possibility that it could be 2032 before the economy fully recovers; The ominous similarities between the American economy of today and the crushing Japanese economic crash of 20 years ago; How Obama's stimulus plan was actually smaller than Hoover's-and likely to be just as ineffective. Day's Predictions Results "It is important to understand that this ongoing financial catastrophe is not only predictable, but inevitable. It is a natural result of paper money, which… has always gone through a natural life cycle of credit-fueled expansion followed by inflation leading to either default or hyperinflation." - January 27, 2003, WorldNetDaily "Fed and Treasury officials have identified the disease. It's called deleveraging, or the unwinding of debt. During the credit boom, financial institutions and American households took on too much debt. Between 2002 and 2006, household borrowing grew at an average annual rate of 11%, far outpacing overall economic growth." - The Wall Street Journal, September 18, 2008 "'Existing-home prices are expected to… hold essentially even in 2008 at $218,300.' The February report comes out this week… let's just say that instead of $218k, I'm expecting a decline that would project to $175k or less by the end of the year." - March 23, 2008, Vox Popoli "The national median price of existing homes plunged to 175,400 dollars in December 2008." - National Association of Realtors, January 27, 2009 "'The United States is fast approaching an interesting juncture in which the nation will be forced to choose between rebuilding its wealth with a functional free-market system or sinking under the weight of an increasingly dysfunctional, centralized economic system…. Unfortunately, the long term appears to be upon us at last." - March 24, 2008, WorldNetDaily "This is an extraordinary period for America's economy…. We're in the midst of a serious financial crisis, and the federal government is responding with decisive action. " - George W. Bush, September 24, 2008 Release Date: Oct. 29, 2009 Publisher: WND Books Price: $25.95 Hardcover ISBN-13: 9781935071181 About the Author: Vox Day graduated in 1990 from Bucknell University with degrees in Economics and East Asian Studies. The infamous Internet Superintelligence first went viral on WorldNetDaily in 2001 and has been nationally syndicated twice, by Chronicle Features and Universal Press Syndicate. He is a member of the SFWA, Mensa, and IGDA, and was a founder of the techno band Psykosonik. He transmits contagious memes on a daily basis from the Vox Popoli blog. If you would like to receive a review copy of "The Return of the Great Depression," or if you would like to interview Vox Day, call Tim Bueler at (530) 401-3285 or send email to media@wnd.com.