Praise for Endgame"This is an extremely powerful, sobering, well-written andhighly accessible book. It will demonstrate to you why there are nopainless solutions to the mounting debt problems around theworld--something that too many people are yet to realize. Itwill take you on a well-documented journey through the debtsupercycle, making stops around the world and at criticaljunctures. And it is a must-read for anyone wishing to understandthe global debt dynamics and ways to protect against its badconsequences."--Mohamed A. El-Erian, CEO, PIMCO, and author of WhenMarkets Collide"No one has thought more creatively about the economy. Mauldin'sweekly newsletter is a must-read, and his book is even moreimportant if you want to understand a rapidly changingworld."--Newt Gingrich, Former Speaker of the House ofRepresentatives"Successful investors explore all possibilities. You should readthis book so you can succeed in case the Endgame is ourfuture."--Jim Rogers, author of A Gift to My Children"I read everything John Mauldin writes. He travels the world andshares his financial stories like a good friend sharing a drink.Mauldin is that rarity--a skeptical optimist--who calls 'emstraight and rewards his clients and fans."--Rich Karlgaard, Publisher and Columnist, Forbesmagazine"There's clearly something important going on in the worldeconomy. Something big. Something powerful and dangerous. Butsomething as yet undefined and uncertain. We are all feeling ourway around in the dark, trying to figure out what it is. JohnMauldin must have night vision glasses. He does an excellent job ofseeing the obstacles. You should read this book before you knockover a lamp and stumble over the furniture."--William Bonner, President and CEO, Agora Inc., andauthor of Dice Have No Memory and Empire of Debt"Endgame is not only a highly readable and informative accountof the causes of the recent global economic and financial meltdown,but it also provides investors with a concrete investment strategyfrom which they can benefit while this final act in financialhistory is being played out."--Marc Faber, Managing Director, Marc Faber, Ltd., andEditor, Gloom, Boom & Doom Report

Acknowledgments xiiiIntroduction: Endgame 1Part One: The End of the Debt Supercycle 11Chapter 1: The Beginning of the End 15Chapter 2: Why Greece Matters 31Chapter 3: Let's Look at the Rules 45Chapter 4: The Burden of Lower Growth and More FrequentRecessions 73Chapter 5: This Time Is Different 91Chapter 6: The Future of Public Debt: An Unsustainable Path109Chapter 7: The Elements of Deflation 133Chapter 8: Inflation and Hyperinflation 157Part Two: A World Tour: Who Will Face Endgame First?175Chapter 9: The United States: The Mess We Find Ourselves In181Chapter 10: The European Periphery: A Modern-Day Gold Standard215Chapter 11: Eastern European Problems 233Chapter 12: Japan: A Bug in Search of a Windshield 247Chapter 13: The United Kingdom: How to Quietly Inflate Away YourDebt 261Chapter 14: Australia: Could It Follow in Ireland's Footsteps?273Chapter 15: Unintended Consequences: Loose Monetary Policies andEmerging Markets 283Conclusion: Investing and Profiting from Endgame 293Epilogue: Some Final Thoughts 297Notes 301About the Authors 309Index 311