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El-Erian: Worst recession since Great Depression ahead, 2009 will look like a flesh wound

Worst recession

EDITOR'S NOTE: When you realize this is written by the Chief Economic Advisor to one of the largest Annuity companies on earth. Allianz, and decide to stop gambling with debt and buy gold and silver.

 

Another 3.84 million Americans filed for unemployment benefits last week. The report comes on the heels of worse-than-expected GDP data for the first quarter. Allianz Chief Economic Adviser Mohamed El-Erian joins Yahoo Finance’s On The Move panel to weigh in on why he says there is more pain to come and how the U.S. can avoid the mistakes of the last recession.

 

Watch Video Interview at finance.yahoo.com

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