"This Is WORSE Than 1929-1946..." - Doug Casey
Doug Casey argues that the current economic situation is dire due to excessive government and private debt, which cannot be repaid. He believes that the government's methods to manage debt, through taxation and inflation, are destructive. Casey predicts a prolonged and severe economic depression, worse than the Great Depression. He also foresees stricter government controls, particularly on foreign exchange and personal finances. Casey highlights the unsustainable practice of the US exporting dollars for foreign goods, leading to potential economic decline when this stops. He criticizes central banks and advocates for a return to gold as currency. Additionally, he notes the problems with high government spending and wars, calling for significant cuts to avoid further economic damage.
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