Richard Duncan: Civilization May Not Survive “Death Spiral”

http://moneymorning.com/ob/economist-richard-duncan-civilization-may-not-survive-death-spiral/

Richard Duncan, formerly of the World Bank and chief economist at Blackhorse Asset Mgmt., says America’s $16 trillion federal debt has escalated into a “death spiral, “as he told CNBC.

And it could result in a depression so severe that he doesn’t “think our civilization could survive it.

And Duncan is not alone in warning that the U.S. economy may go into a “death spiral.”

Since the recession, noted economists including Laurence Kotlikoff, a former member of President Reagan’s Council of Economic Advisers, have come to similar conclusions.

Kotlikoff estimates the true fiscal gap is $211 trillion when unfunded entitlements like Social Security and Medicare are included.

However, while the debt crisis numbers are well known to most Americans, the economy hasn’t suffered a major correction for almost 4 years.

So the questions remain: Is the threat of collapse for real? And if so, when?

Continue here: http://moneymorning.com/ob/economist-richard-duncan-civilization-may-not-survive-death-spiral/

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http://moneymappress.com/pro/Pyramid0712MMR.php?code=PPYRN742&n=PYRAMIDMMR49EADMMP

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check out the linked video..the death rattle is heard around the world..but the sheep are silent..make plans if you can..if you cant then hang on tight..they key is how long can they prop it up?..how long can they make this run before it implodes?

401

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~ by seeker401 on August 2, 2012.

13 Responses to “Richard Duncan: Civilization May Not Survive “Death Spiral””

  1. Hey Seek, the death rattle just got louder, results from this mornings FOMC meeting. Looks like QE3 is in play.

    The Federal Open Market Committee “will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability,” it said today in a statement at the end of a two-day meeting in Washington. “Economic activity decelerated somewhat over the first half of this year.”

    FED rates hold extended from 2013-2014:
    “The Fed left unchanged its statement that economic conditions would likely warrant holding the benchmark Fed funds rate near zero “at least through late 2014.” The committee said it “will closely monitor incoming information on economic and financial developments.”

    ref: http://www.bloomberg.com/news/2012-08-01/fed-says-economy-has-slowed-signals-new-steps-to-boost-growth.html

    Cue Iran – i hope not?

  2. owell can’t track the time left on vid feel like those of the i nflation institure lol

  3. Hey, last time I looked, Social Security and Medicare is still being “funded” out our checks, so where in the hell has it been going??????? It’s all a lie, they’ve been spending and laundering it as fast as they’ve taken it. The inflated price of medical in America has to stop, nothing really costs what these SOB”s claim it does, after all, ‘they’ set the prices, that’s how ‘they’ stay rich.

    AND, why is it always Medicare, the seniors who aren’t funded, but never MEDICAID, the ‘immigrants hospitalization” and the poor folks, who are? (I’m not against anyone getting medical care, but damn if this political bullshit lie isn’t getting old )

    If they would keep their dirty corporate hands out of the Medicare and the fraud they ALLOW to perpetrate, and eliminate the CORPORATE middleman, like the Humana Replacement Medicare types of policies, there would be enough money to make sure the elderly can also eat and get their meds. I am totally convinced they want everyone on Medicaid, so the government can claim they need more money to cover the costs of medical care, which in itself, is a joke, there is no care, just management.

  4. wonder if this John Daly is related to this John Daly?

    http://en.wikipedia.org/wiki/John_Charles_Daly

  5. ok i think is almost over i hope lol so … comment
    some l inks for this New queen-EastIndiaCompany -Malthussians-Darwinianss- Hubbertss ………
    here

    http://www.theoildrum.com/node/5811

    maybe abiotic oil

    http://www.treehugger.com/sustainable-product-design/do-horizontal-farms-on-buildings-make-more-sense-than-vertical-farms-paul-de-ruiter-thinks-so.html

    http://www.annarbor.com/news/opinion/we-need-to-stop-the-exportation-of-water-from-the-great-lakes-to-china/#.UBnhSqAujTo

    Wow Intrigued YOU got to the SSecurity & they still going it never ends
    i think i’m done listen to this
    reverse p yramid maybe are this plp in the vid lol

  6. yup it was painful propaganda but is good to know all sides thx Seek :)

  7. Mainstream Reporter Tells The Truth About Audit The Fed And The Creation Of The Federal Reserve

    http://theeconomiccollapseblog.com/archives/mainstream-reporter-tells-the-truth-about-audit-the-fed-and-the-creation-of-the-federal-reserve

    The Audit The Fed Bill Gets Passed By The House But Obama And The Democrats Are Going To Kill It

    http://theeconomiccollapseblog.com/

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