Doug Casey Revisits the Greater Depression and Explains the Realities of Investing in the 21st Century
Interview with Scott Smith
Introduction: Doug Casey has appeared on hundreds of radio and TV shows, and has been the subject of articles in People, Us, Time, Forbes, The Washington Post, and numerous other publications. For nearly three decades, Doug Casey and his team have been correctly predicting major budding trends in the overall economy and commodity markets.
Daily Bell: We asked you a number of questions nearly a year ago about fiscal and monetary issues – as well as the state of the world. You weren’t especially optimistic then. We can’t imagine your mood has improved much, has it?
Doug Casey: Well, my personal mood is fine. But the economy’s mood is likely to go from merely grumpy to psychotic. The Greater Depression began, I believe, in 2007, and will get much worse because not just the US government, but every major government in the world, has been doing not just the wrong things but exactly the opposite of the right things.
The right thing would be for these governments to get totally out of the picture. What they are doing instead is inserting themselves further into the economy. But I suppose this is what the average person wants them to do because, idiotically, the average person thinks that the government is some kind of a magic cornucopia and is the solution to their problems – when actually government is the basic cause of all these problems. Its only products are taxes, regulations, and inflation – along with wars, pogroms, persecutions and the like. Government produces nothing. So I guess I’m not overly sympathetic to them; they are pretty much going to get what they deserve in the years to come.