Michael J. Panzner is a 25-year veteran of the global financial markets who has worked in New York and London for HSBC, Soros Funds, ABN Amro, Dresdner Bank, and J.P. Morgan Chase. He is a New York Institute of Finance faculty member. He is the author of The New Laws of the Stock Market Jungle: An Insider's Guide to Successful Investing in a Changing World.
Art Bell was joined by Wall St. insider Michael J. Panzner, who discussed the dire economic circumstances in America and around the globe. According to Panzner, the U.S. is not in a typical recession. Instead, he believes the crisis more closely resembles a depression, in which we can expect an extended period of economic contraction accompanied by deflation.