Tuesday, March 15, 2011

Todd Rutherford Reviews Business Book

Title - Escaping Oz: Protecting your wealth during the financial crisis

Author – Jim Mosquera
Website – http://www.escapingoz.com/
BISAC – Business & Economics / Investments & Securities
ISBN (13) - Print: 978-1453891216
ePUB: 978-0983296683
Kindle: 978-0983296607

Originally reviewed by Publishing Guru Todd Rutherford for Amazon.com
5.0 out of 5 stars

Jim Mosquera's Escaping Oz: Protecting your wealth during the financial crisis is an intriguing read that delves into questions about why our economy is in such chaos and confusion. The book, using The Wizard of Oz as a metaphor, encourages citizens to understand what they can do to protect their assets and help eradicate the economic mess plaguing our country. More importantly, Mosquera poses critical questions about our country's political and economic future, detailing precisely how we got to be in this position, and how we're going to get out. There is no "wizard" that's going to come to the rescue and the path this economy is following is certainly not the yellow brick road.

In technical terms, Escaping Oz discusses the number one problem in today's economy: "Our economy became overly dependent on lending and borrowing." However, both lending and borrowing are based on confidence from both sides. In other words, the lender has confidence that the borrower will have the means and sources by which to repay the amount of the loan, and of course, the borrower is confident in his/her ability to repay the loan. Right now, confidence is dragging, to put it nicely.

Jim describes how money has been perceived throughout history, from money in the Americas, to money during the Colonial era, and finally the value of money during the War for Independence. The fact is that money is constantly evolving with respect to its value and its use, both at home and abroad.

More than anything else, however, the book revolves around two concepts familiar to the masses: debt and credit. Jim Mosquera poses a number of eye-opening questions and even bolder statements. For example, he states that today, the evolution of money has taken the form of credit. More specifically, he writes, "As of June 2010, there is approximately $13.8 trillion of credit extended to the United States Government." Interestingly, the deficit facing the government is simply the difference between the revenue accrued and the credit amount allotted to the United States.

Two underlying questions that should set off mental alarms far and wide: if the government could eliminate its entire deficit through taxation alone, why isn't it doing it? Why is it widening the deficit gap by tacking on more credit?

Overall, the parallels between The Wizard of Oz and the wizard known as the United States government make this book an informative and enjoyable read. While there is extensive information on government strategies, there is an entire section (Part III) dedicated to the individual's own business model. Jim Mosquera presents his audience with strategies pertaining to bank, real estate, and stock investing, including managing one's portfolio and planning for the future.

Escaping Oz is a must read! And once you have a copy, you should stand up tall, close your eyes and click your heels together, saying, "There's nothing like being debt free, there's nothing like being debt free, there's nothing like . . ."

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1 comment:

Bookshop.Librarian said...

Read Cutting for Stone by Abraham Varghese. It is South Florida's top choice among book clubs and library staff picks (http://bookshop02092.blogpspot.com)