Jeffrey Snider: The Great Recession Wasn’t a Recession at All
According to Alhambra Investment’s Jeffrey Snider, it was a depression.
BUFFALO- In an exclusive conversation with Real Vision TV, Jeff Snider, head of global research and a chief investment strategist for Alhambra Investment Partners, reveals the real reason policy responses from central banks aren’t working.
The investment researcher, who has published a number of in-depth reports that run contrary to popular opinion, tells Real Vision subscribers, “[central bankers] are closer to realizing the fact that the monetary system lies far outside of their grasp. And in realizing that, they have to change the way they operate,” says Snider.
According to Snider, there is a realistic chance that there is an intractable structural monetary problem that leads to an economic problem that central banks don’t seem to be able to solve. When there are problems in liquidity, LIBOR rises. Looking behind the curtain, Snider finds monetary contraction, not monetary expansion.
There are other implications as well, perhaps more important than just investing. If this is indeed a depression, Snider says, “Historically periods of prolonged economic stagnation, lead to some of the worst types of historical events, usually social disorder, political upheaval, all those kinds of things.”
Snider closes with a hopeful message for recovery, saying, “The opportunity is still there as long as we pay attention, and as long as we appreciate what has happened in these more esoteric, hidden, and fuzzy manners.”
Watch the full interview with Jeffrey Snider exclusively on Real Vision TV to hear how shadow banking and the euro dollar market will continue to affect LIBOR and global economic recovery.
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