Jim Rickards: The 25-Year Great Depression
Investmentwatchblog.com
September 1st, 2014
Steve Meyers, The Money Morning , Released on 8/27/14
“When I use the phrase 25 year depression, it sounds extreme but it’s not. We had a 30 year depression in the United States from about 1870 to 1900…The Great Depression lasted from about 1929 to 1940. The U.S. is in a depression today.”
“The Fed doesn’t know what they’re doing – don’t ever think that they know what they’re doing. You can print all of the money that you want, but if people are not borrowing it, if they’re not spending it, then you’re economy is collapsing even with money printing.”
“It’s not that we don’t have distress – we have enormous distress – but it’s being hidden in different ways. The unemployment rate today is actually 23 percent when you calculate it the right way.”
