Jim Rickards said that we're in a economic depression. Jim explained the difference between a recession and depression and where we are heading in terms of the U.S. Economy.
Jim Rickards predicts that the current economic downturn is more than a recession; it is a depression with prolonged effects. He clarifies the distinction between the two, emphasizing that depressions involve sustained weak growth relative to potential.
Jim Rickards is an economist, lawyer, and investment banker with 40 years of experience in the capital markets on Wall Street. He is also a NY Times bestselling author and has written various book on topics like currencies, supply chains, surging inflation, monetary system, financial crisis, and precious metals. Rickard has advised various clients including government directorates and institutional investors.
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