Market Shock: 9 Economic and Social Upheavals That Will Shake Your Financial Future and What to Do about Them

Buchholz's broad picture of the short-term socioeconomic future is cleverly written and entertaining. It's the nature of such crystal ball-gazing that only time will tell if it's wise as well. The nine upheavals Buchholz foresees are the graying of America; consolidation in the mutual fund industry; a ""darker America,"" as minorities play a larger role in the economy; a politically and economically resurgent Japan; European unification; China's entrance into the world economy; global warming; a rise in the U.S. crime rate; and the continuing development of high-tech and biotech businesses, many of which will fail and many of which will change the way we live. To spice up his presentation, Buchholz (New Ideas from Dead Economists) writes short fictional scenarios involving average Americans coping with the upheavals he predicts. He also writes mock news flashes (e.g., French union members demanding that the ""new European Central Bank slash interest rates to reenergize France's sagging economy"" while Dutch shopkeepers demand the bank raise rates to combat inflation). Such flourishes, combined with his insightful use of demographic data, make Buchholz's look into the future an enjoyable exercise in speculation. However, when telling readers which investment strategies would be best in certain situations, Buchholz turns a bit vague, promising ""financial ruin"" for ""the unprepared"" while forecasting that the ""savvy investor"" will be rewarded with ""tremendous opportunities to make money."" (Aug.)