Economist Doug Casey, chairman of Casey Research, joined JD Hayworth on America's Forum on Newsmax TV on Monday to discuss what he calls the "Greater Depression."

Casey said the US economy is in the eye of a "gigantic financial hurricane."

It's my opinion, that perhaps by the end of the year, certainly by the middle of next year, we will go into the trailing edge of the hurricane," he said. "It's going to last much longer, be much more serious and be quite different than the unpleasantness we remember from 2008 and 2009."

Watch the video here.