Why the US economic crisis is a depression and not a recession

This is going to be a quick hit. But I thought I should put this out there now that the Platinum Coin idea has been rejected, something that makes this downside scenario more likely. The idea here is that we are in an interregnum period similar to the 1933-1937 period that will unfortunately come to an end. I'm going to spell this out briefly because it highlights my guiding macro thesis for the past few years on the US.
John Carney at CNBC has written a good column today detailing the Obama Adm...


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