By and large, America has forgotten what a depression can do.
It’s been nearly eighty years since soup kitchens, 25-percent unemployment and Dust Bowl homelessness changed the country forever.
Will that kind of lifestyle though return in the 21-st century?
“A depression is going to be very painful, very severe. People out of work, investors losing money, major corporations going bankrupt. A lot of confusion and distrust, but it’s not the end of the world,” says Martin Weiss.
Weiss runs the Jupiter based Weiss Research Group, which advises members of Congress on the economy. He says while there is no one shouting it from the rooftops, the U.S. has begun a depression. He says this long term financial crisis will be different however, because America’s infrastructure is stronger.
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