TRIGGERnometry

Are We Facing a Great Depression? James Rickards and Pippa Malmgren

Apr 15, 2020
Join economist and author James Rickards, alongside Dr. Pippa Malmgren, a former presidential advisor and tech entrepreneur, as they dive into the potential of facing a great depression. They dissect the current economic landscape, contrasting recession and depression, while critiquing the Federal Reserve’s policies. Topics include the lasting scars of the 2008 crisis, the economic impact of COVID-19, and the shifting paradigms of globalization. Their insights unfold the fragility of national assets and the necessity of adaptability in these turbulent times.
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INSIGHT

Depression Since 2007

  • The US economy has been in a depression since 2007, marked by sustained below-trend growth.
  • Current economic declines are unprecedented and require looking back to 1929 for comparison.
INSIGHT

Unprepared for Crisis

  • The 2008 financial crash had a lasting impact, with the US economy never fully recovering.
  • The Federal Reserve's attempts to normalize the balance sheet and interest rates ultimately failed.
ANECDOTE

Economic Autoimmune Response

  • Pippa Malmgren compares the economic crisis to COVID-19, where the body's immune response can be self-destructive.
  • Businesses shut down preemptively due to cash flow concerns, leading to mass unemployment.
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