Economic expert Jim Rickards observes that a "25-year Great Depression is about to strike America."
Rickards, a prominent Financial Threat and Asymmetric Warfare Advisor, gave a recent exclusive video interview with Money Morning. As an accomplished investment banker and hedge fund manager, his financial insights are something you should listen to. If he says a 25 year depression is looming in the midst, there are substantial reasons.
Rickards has also been following the flow of cash associated with terrorist insider trading since September 11th.
In this exclusive Money Morning interview, he stated:
"Everybody knows we have a dangerous level of debt. Everybody knows the Fed has recklessly printed trillions of dollars. These are secrets to no one. But all signs are now flashing bright red that our chickens are about to come home to roost."
Rickards points out some of the most troublesome signs that we are close to a great depression. One of these omens is a metric used by the CIA, the so-called Misery Index. This index takes into account the actual inflation and unemployment rates to paint a picture of the economy.
Unfortunately, this doesn't become a part of the main news circuit because the formula for calculating this index is constantly being changed to make things looks better and to hide the true state of our economy.
He states:
"Today you rarely hear the government talk about the Misery Index with the public. The reason is they may not want you to know the truth. And the truth is, the Misery Index has reached more dangerous levels than we saw prior to the Great Depression. This is a signal of a complex system that's about to collapse."
He goes on to specify the course of events that will accompany the crash:
"I expect the first phase will appear as a nearly instantaneous 70% stock market crash. From the outside, nobody will see it coming. Once it becomes clear that it's not a flash crash – it's a systemic meltdown in the economy itself, that's when the gravity of the situation will sink in. And there will be no digging out from it. $100 trillion is a conservative estimate for the damage. A lot can happen over 25-years as our country struggles to recover from this."
So now you know. A famous economic expert has shared his valuable insights about a potential 25 Year Great Depression hitting America. Watch the rest of his interview here.
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