by Anthony Wile, The Daily Bell:
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: Welcome, Doug. Give us an update on what you call the “Greater Depression.”
Doug Casey: A depression is a period of time when most people’s standard of living drops significantly. I think we can argue that this one really started in 2008. For the last couple of years, by printing up trillions of currency units, governments have − so far successfully − papered things over. Instead of allowing markets to liquidate, their currency printing has made it possible for people to continue living beyond their means. It’s just a question of time before things really come apart but it’s impossible to say exactly how much time. My guess is, based on what is happening in Europe and what I think will be happening shortly in China, is that we go back into the storm within a few months. As you know, it’s not a good idea to predict both an event and its timing. But I’m an economist − which is to say, someone who tries to describe the way the world works − not a fortuneteller. So I’m willing to take a shot at the timing…
Daily Bell: We asked you last time how long you thought it would take before there is a complete breakdown in confidence of the US dollar.