Aftershock: Book Review

Aftershock predicted the next global economic meltdown would occur sometime between 2013 and 2016. Looking back, we can see that there was no great meltdown in 2013-2016, but we must ask why? How could the economists who were right about the housing crisis and the 2008 recession be so wrong about 2016?

Economists are notorious for making predictions about inflation, unemployment, and the stock market. Because the economy is composed of billions of individuals and thousands of countries, NGOs, companies, and other entities, making predictions can be especially difficult, and most Economists make broad general predictions. I have to give the authors credit for trying to put a date on their predictions. Although the authors were wrong on a lot of their predictions, we can still learn valuable information by investigating why these predictions were wrong.

More importantly, we can ask whether the underlying issues have been resolved? Have we averted the disaster predicted by these economists, or have we simply pushed it further down the road?

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