The Misery Index combines the true inflation rate with the true unemployment rate.
Why don’t you hear about this in the mainstream news? It is because the Federal Reserve has repeatedly changed how the Misery Index is calculated.
Rickards believes that the way the Misery Index is being calculated is being used to hide the true state of the economy.
He said:
“Today you rarely hear the government talk about the Misery Index with the public. The reason is they may not want you to know the truth. And the truth is, the Misery Index has reached more dangerous levels than we saw prior to the Great Depression. This is a signal of a complex system that’s about to collapse.”
Rickards specifically pinpointed how he thought the crash will come about:
“I expect the first phase will appear as a nearly instantaneous 70% stock market crash. From the outside, nobody will see it coming. Once it becomes clear that it’s not a flash crash – it’s a systemic meltdown in the economy itself, that’s when the gravity of the situation will sink in. And there will be no digging out from it. $100 trillion is a conservative estimate for the damage. A lot can happen over 25-years as our country struggles to recover from this.”
There you have it. A CIA economic expert reveals how he thinks a 25 year depression is about to hit America. Jim Rickards can’t be dismissed as a crackpot. So what do you think will happen to the country’s economic situation over the next 25 years?
- Source, WJ
