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Summary Of The Great Depression By Jim Richards

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During this video Jim Richards begins stating that he believes that this nation will soon undergo a huge economic downfall. He predicts that the United States could be victim to a 25 year long depression. Jim Richards states that there are signs of of a coming depression that you just can't ignore such as: GDP is flatlining exponentially, the velocity of money is in lower than it was when the nation was leading up to the Great Depression, the misery index which is calculated by taking the unemployment rate and inflation rate and add them together. The misery index during the Great Depression was at 27, but today it is now at 32.89. Having a high misery index leads to social instability. He also says that bank debt is now growing 30 times

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