Economic depression and unemployment can be overcome, but a massive loss of American civil liberties might be tough to unwind, according to economist Ben Stein on Newsmax TV.
"I fear that A. we're headed toward depression and B. loss of our civil liberties in a very big way and it's going to hard to get them back," Stein told Wednesday's "Greg Kelly Reports."
Stein, a famed speech writer for Richard Nixon, "Ferris Bueller's Day Off" actor, and noted economist told host Greg Kelly, "we've already saw we're in the beginning phase of a depression."
Stein expects consecutive quarters in 2020 of "10% or more of unemployment," but he did note the financial sector is strong and the U.S. economy can manage during the global coronavirus pandemic until mitigation efforts achieve the goal to slow the spread.
We are not headed for a long-term economic depression, he added.
"We're way, way better prepared than we were during the Great Depression, there's no comparison," Stein concluded.
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