US Is In A Depression: Rickards

Well we know what the most pessimistic bear case is: former Long Term Capital Management general counsel Jim Rickards warns that a 70% – 80% stock market crash followed by rioting and the rise of neo-fascism is one of the possible outcomes from growing systemic instability, and the other two are terribly rosy either. In an interview with Christoph Gisiger at leading Swiss business newspaper Finanz und Wirtschaft, Rickards explains that why he believes the US is actually in a recession and that monetary policy is merely papering over deep structural problems. US is in a depression, says Rickards “These…