AUGUSTA, Maine, August 30, 2005 (PRIMEZONE) -- In the 1990s, Americans experienced a flood of wealth. Business was booming and consumerism high. Then things fell apart. Now, the dollar struggles against the euro as the economy's global supremacy seems to be waning. John Shannon explores the cause of this new trend in The Federal Reserve Board: The Wizards of OZ: The Men Behind the Curtain (now available through AuthorHouse).
"(The book) is a must read for everyone. Every American citizen is affected by the Federal Reserve's monetary policy. Whether you are an American worker, an American investor or an American businessman, knowing the damage the Fed has caused in the past and can cause in the future can save your financial life," Shannon says.
The Federal Reserve Board: The Wizards of OZ begins by revisiting the booming economy Americans enjoyed in the late 1990s before moving to 2003. It was then that the economic recession took hold as jobs became scarce, workers were laid off, investors lost hundreds of thousands and businesses closed or went bankrupt. Shannon shows how the Federal Reserve Board, especially under the recent leadership of Alan Greenspan, has caused scores of economic problems through their mismanagement and harmful policies. He gives a brief history of this board created by Congress in 1913 and explores the multitudes of mistakes it has made throughout its 90-year existence and the effects they had on the American people.
Shannon continues by describing the characteristics of a strong, wealthy country and revealing America's ranking. After a thorough examination of the numerous mistakes the board has made, he offers solutions to fixing these errors. In addition, he shows what may happen if these solutions are not implemented. Individual investors get a picture of the economic horizon through this literary crystal ball.
Whether a businessman or someone struggling to make ends meet, The Federal Reserve Board: The Wizards of OZ: The Men Behind the Curtain is an informative book that helps Americans strive to return the economy back to the superpower status it once exhibited.
Shannon attended college in Boston where he studied accounting. He opened his first account at Merrill Lynch in 1973 and spent five years vigorously studying the stock market. He successfully predicted the real estate market collapse of 1988 and the stock market crash of 2000. Now, he sets his sights on avoiding a dire future with the information he has provided in The Federal Reserve Board: The Wizards of OZ, his first book. For more information, visit his Web site at www.johnshannonbooks.com.
AuthorHouse is the world leader in publishing and print-on-demand services. Founded in 1997, AuthorHouse has helped more than 18,500 people worldwide become published authors. For more information, visitwww.authorhouse.com.