recommended reading

i will be updating this list frequently, as i think of a good book or article while composing my posts, so the list is a work in process. i will try to give reasons why i like the particular book, so you will have some idea if it might appeal to you. several are wonderfully written, and i can recommend them on that basis alone, while others may be heavier reading, but contain valuable information which is worth slogging through. also, i'll try to create some categories.

A Short History of Financial Euphoria by John Kenneth Galbraith. this is a wonderful little book, full of wry humor, which gives a very brief summary of various financial bubbles and is full of anecdotes and observations of the various characters involved. you can buy it used on amazon for less than five dollars, and read it in a couple of hours. a delightful read, highly recommended.

Great Crash 1929 by John Kenneth Galbraith. this is more galbraith the economist, disecting the great crash more deeply and analytically. for those who want to delve more deeply into the subject. well written, but not nearly so entertaining as "short history."

Extraordinary Popular Delusions: And the Madness of Crowds by Charles MacKay. written in 1841 and reprinted countless times, this book describes three major financial bubbles and quite a number of other manifestations of social mania, such as the salem witch trials. in lumping them together, mckay reveals his notion that all these phenomena are rooted in the same psychological causes. mckay was a poet and a songwriter, and the book is a joy to read. note that some of the modern editions contain only the financial portion (which might be all you want). highly recommended.

At the Crest of the Tidal Wave by Robert R. Prechter Jr. the best description i've found of our current bubble, and its likely outcome. written in 1995 while the stock market tech bubble was still under way and before the real estate bubble really came into being, the book anticipates our current crisis and much more to come. a must read if you're serious about understanding how things might play out.

Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression by Robert R. Prechter Jr. this is the companion book to "at the crest," a step by step guide to what to actually do to prepare for a crash. in a word: "SELL!"