Economic Expert Hunter Lewis: We Are in a Depression!
On Sunday, Hunter Lewis, Founder and former CEO of Cambridge Associates, told Breitbart News Executive Chairman and host Stephen K. Bannon that, "We are in a depression."
Lewis delivered his assessment of the U.S. Economy on Breitbart News Sunday on Sirius XM Patriot radio channel 125. He explained that part of the reason the economy is in such a shambles and the political system is in such a shambles is bad economic policies that have fed special interest groups, instead of supporting the middle class and the poor. And those same policies have given us crony capitalism.
Hunter, a graduate of Harvard University, co-founded Cambridge Associates, LLC, a global investment firm whose clients include leading research universities, charitable organizations, and families. He has served on boards and committees of fifteen not-for-profit organizations, including environmental, teaching, research, and cultural organizations, as well as the World Bank.
We are in a depression, according to Lewis. He asserts that if we calculate unemployment as they did in the 1930s, we would have unemployment numbers that rival that era. The only reason we have the percentages we have now (6.7%) is because “we don’t include those who have dropped out of looking for a job, who have given up. If we included those, the unemployment number would be at 20%.”
Moreover, Lewis submits that the mainstream media is completely swept up in Keynesian economics, which is also part of America’s problems. Hunter pointed out that, if you hear a report from NPR or other mainstream shows, you will hear that the Fed is bond-buying. “They completely leave out the fact that the Fed is creating new money in order to do its bond-buying. So you don’t get accurate reports,” Hunter informed us. Therefore, it is not surprising that you get Time Magazine reporting on the new Fed Chair Janet Yellen as though it is a “coronation.”