The following is an edited excerpt from Phil Mitsch’s Book “America’s Financial Crisis” which he wrote in the Spring of 2008. This Book is the first of 5 that comprises his Economic Crisis Solutions Program and it is currently available.

In Section #1 of this Book we will be analyzing the following 13 Topics that will describe in detail my personal feelings about the real truth regarding the current condition of the U. S. real estate market and overall economy as we enter the year 2008.

1.  The United States Has Slipped Into Its Worst Real Estate Market And Overall Economy In History

2.  Just 3 Words Were Responsible For Sparking The Start Of The U. S. Financial Crisis

3.  The U. S. Financial Crisis Cannot Be Solved Until Everyone Acknowledges It Really Exists

4.  New, Revolutionary, And State Of The Art Business Practices Are Now Desperately Needed

5.  Definition Of The Worst Real Estate Market In U. S. History

6.  The Real Estate Market Has A Tremendous Impact On The U. S. Economy

7.  The Sponge And Water Analogy That Explains Why The U. S. Has Gone From Boom To Bust In Just 4 Years

8.  The Real Truth About The Current Condition Of The U. S. Real Estate Market And Overall Economy  

9.  Definition Of A Depression

10. Definition Of A Recession

11. Depression For Some And Recession For Others

12. Who Are The People And Businesses That Have Been In A Depression

13. Who Are The People And Businesses That Have Been In A Recession

Now let’s analyze each one of these 13 Topics in great detail

1.   The United States Has Slipped Into Its Worst Real Estate Market And Overall Economy In History

Since the year 2004 the United States has slipped into its worst real estate market and overall economy in history due to the development and continuation of many, very serious, and monumental Financial Problems. These Financial Problems, which collectively represent the U. S. Financial Crisis, have resulted in millions of Americans and their businesses being brought to their knees financially and psychologically thus qualifying them as real victims of Recessions as well as Depressions. As we enter the year 2008 these Financial Problems are now so catastrophic that if they are not addressed and solved very quickly then the United States is absolutely heading toward and will experience its Second Great Depression in the very near future. A Depression that will prove to be far worse than the first one because instead of devastating only about 25% of Americans and their businesses financially and psychologically this one will have the capability of devastating up to 90% of them financially and psychologically. Now that’s the Bad News. The Good News however is that the Second Great Depression can be avoided and the U. S. real estate market and overall economy can actually be stabilized and gradually put back on positive tracks as opposed to the negative ones they are currently on. The Big Question however is this: What exactly does America have to do in order to see that the Good News becomes a reality? The answers lie in Section #3 of this book.


2.   Just 3 Words Were Responsible For Sparking The Start Of The U. S. Financial Crisis  

Believe it or not the birth of just 3 Words, in late 2004 and early 2005, sparked an enormous negative domino ripple effect sequence of events that led to the development and continuation of the many, very serious, and monumental Financial Problems that the U. S. real estate market and overall economy are now facing as we enter the year 2008. These Financial Problems, as I’ve indicated, collectively represent the U. S. Financial Crisis and it’s very hard to believe that only 3 Words sparked its creation. Individually the meaning to each one of these 3 Words is harmless. However when you combine them their meaning is so powerful and deadly that it can bring a nation, like the United States, to its’ knees both financially and psychologically in a very short period of time. In fact, the meaning to these 3 Words is so powerful and deadly that their very existence and continuation will absolutely result in the United States experiencing its Second Great Depression in the very near future unless they are eliminated from the English language very quickly. Now I’m not going to reveal to you what all of these 3 Words are at this time but I will give you a hint. The first one is Massive.  


3.   The U. S. Financial Crisis Cannot Be Solved Until Everyone Acknowledges It Really Exists

As we enter the year 2008 there are still millions and millions of Americans who refuse to acknowledge that the U. S. real estate market and overall economy are in very deep and very serious trouble. This is very tragic and very unfortunate because there is absolutely no way that the current Financial Crisis in the United States can be seriously and successfully dealt with until all Americans, their businesses, and our government: 1) acknowledge that it really exists, 2) understand the reasons why it developed in the first place, and 3) create, adopt, and implement the right types of Business Practices to eliminate it. I will be listing what the current U. S. real estate market and overall economic Financial Problems are and the reasons why they developed in Section #2 of this book. I will also be listing conceptual solutions to eliminating them in Section #3.  


4.   New, Revolutionary, And State Of The Art Business Practices Are Now Desperately Needed

As we enter the year 2008 the only way at this point in time to conceptually avoid the coming of the Second Great Depression and get the U. S. real estate market and overall economy stabilized and gradually back on positive tracks is to see that new, revolutionary, state of the art, and management to prevent crisis Business Practices are created, adopted, and then implemented. Implemented by whom? Specifically by: 1) the government of the United States, 2) the lending industry, 3) the insurance industry, 4) the investment industry, 5) the legal industry, 6) the real estate industry, 7) home buyers, and 8) home sellers. The Big Question however is: What specific types of Business Practices must be created, adopted, and implemented? The answers lie in Section #3 of this Book.