I Would Expect that this Depression Will Continue Indefinitely

�[But] most of them don�t understand what�s going on in the economy. They�re using the wrong models. Everyone is using cyclical models�expecting some kind of robust recovery�they�ve been wrong every single time, [and] the reason is that we�re not in a cyclical recovery�We�re in a depression. We are in a depression for the first time since the 1930s�[So] if you�re curious and you want to know what a depression feels like, it feels like this because we�re in one.�

�The problem with a depression,� James continued, �is that it�s not a business cycle. It�s a different [economic] condition and so cyclical remedies such as monetary easing don�t work�You need a structural remedy and that means changes in tax laws, labor mobility, regulatory policy, fiscal policy etc�I don�t see any resolution of the structural issues on the table and therefore I would expect that this depression will continue indefinitely.�

- Source, Bull Market Thinking:

http://bullmarketthinking.com/james-rickards-when-the-international-monetary-system-collapses-its-going-to-be-about-how-much-gold-you-have/

We Are in a Depression

�We don�t have to worry about a recession � we are in a depression,� says James Rickards.

�If you take the classic definition of a sustained, long-term downturn with economic growth below trend, then we are in the midst of a depression,� says the senior managing director of Tangent Capital and author of �Currency Wars.�

- Source, NYPost:

http://www.nypost.com/p/news/business/fed_up_with_ben_vzuSPEjRIZYd96jbfwa8aJ