From 1979-1981, Doug Casey’s full page ads proclaiming “the Great Depression of the 1980s” were in newspapers all over America.
His book, Crisis Investing, became the bestselling financial book in history, hit #1 on the New York Times Best Seller list, and stayed there for twelve weeks.
There was a nasty worldwide recession in the early 1980s, but nothing even close to a depression.
Did that put him out of business?
He’s run a lucrative consulting firm for the last 30 years and lived in twelve different countries.
In early 1987, economist Ravi Batra’s book, The Great Depression of 1990, was table talk from coast to coast.
It hit #1 on the Times Best Seller List later that year.
There was a nasty worldwide recession in the early 1990s, but nothing close to a full-fledged depression.
Did that put the damper on Professor Batra?
He’s published a parade of books since, including the 1999 doomsday title, “The Crash of the Millennium.”
Casey and Batra are hardly the only prophets of doom to profit from doomsday predictions but the specificity and severity of their predictions catapulted them into the spotlight in a way others never reached.
Amusingly, some of their supporters have claimed they were right — they were just off by a few years and overstated the financial markets crash of 2008. [Read more…] about Why “Armageddon Advertising” Sells