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IPFS News Link • Economy - Economics USA

Doug Casey Explains the Real Reasons the US Arrived at the Greater Depression

• https://internationalman.com, by Doug Casey

I am of the opinion that what's happening now isn't just another cyclical downturn that can be papered over by printing up some more money—although that's exactly what the U.S. and other governments are doing, and in unprecedented amounts. In fact, what the world's governments are doing is not only wrong but also the opposite of what they should be doing.

Barring the start of another world war—which is not unlikely—the physical world probably won't be changed much by the Greater Depression, but the way people relate to the world will change a great deal. And not because of the virus, which is about 90% hysteria; it's just the pin that broke the bubble.

For roughly a whole generation, the U.S. government's inflation of its currency has been inviting the whole country to live beyond its means. Living beyond your means is what consumer debt is all about.


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