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World Bank Economist: Civilization Death Spiral

 
Madbob
User ID: 29635852
United States
12/11/2012 12:37 PM
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World Bank Economist: Civilization Death Spiral
Just to cheer everyone up: If 21/12/2012 don't get you be sure to enjoy civilization's death spiral. Coming to an economy near you.

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."


[link to moneymorning.com]
N3m3s1s

User ID: 1217160
United States
12/11/2012 12:45 PM

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Re: World Bank Economist: Civilization Death Spiral
I read this article a while back, maybe as far as a year ago. I agree, patterns are emerging that only lead to one place, exponential growth in debt and strain on systems.

Great article.

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