If you think the credit crunch is over and the economic recovery will last, think again. The experts who failed to see the crisis coming are now declaring that it's behind us. But the lessons of history suggest that the worst may be still to come. To survive and prosper in the coming years, you need to understand the powerful forces at work and how to protect yourself from their devastating effects.
Far from occurring out of the blue, the ongoing credit catastrophe is part of a sequence that's as old as the economy itself. Throughout history, major cycles of boom and bust have occurred roughly every 50 years or so. This pattern was first identified by a Russian economist back in the 1920s. And Nikolai Dmitriyevich Kondratieff's remarkable findings are today as relevant as ever to the outlook for the world economy.
