Wednesday, August 8, 2012

Economist Richard Duncan: Civilization May Not Survive 'Death Spiral'

The folks at the Money Map Press are pitching one of those “kitchen sink” deals where you pay up front to get all of their newsletters for life — these are usually in the neighborhood of $3,000-5,000 with an “annual maintenance fee” that’s generally around a hundred bucks, and this one is right in line with that (and yes, as many publishers do they give it a twist by saying they’ll “send you a check” — for $2,500 in this case, which is pretty much like a car salesman giving you a “cash back” offer, saying “discount” just doesn’t hit your lust receptors in the same way).

The deal, which they call the “Passport Club,” includes more newsletters and trading services than you’d have time to read, from all the heavily teased editors they promote to our mailboxes every day (Dr. Kent Moors, Shah Gilani, Peter Krauth, etc.), but the big teaser pitch behind the promotion is from another guy, Michael Robinson, who used to work for sister publisher Wealth Daily/Taipan, but whose American Wealth Underground appears to have disappeared. Source

Economist Richard Duncan: Civilization May Not Survive 'Death Spiral'

 "It's a pattern that's hard to see unless you understand the way a catastrophe like this gains traction," Dr. Moors says. "At first, it's almost impossible to perceive. Everything looks fine, just like in every pyramid scheme. Yet the insidious growth of the virus keeps doubling in size, over and over again - in shorter and shorter periods of time - until it hits unsustainable levels. And it collapses the system."

Martenson points to the U.S. total credit market debt as an example of this unnerving pattern.

By Terry Weiss, Money Morning 


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? 

A team of scientists, economists, and geopolitical analysts believes they have proof that the threat is indeed real - and the danger imminent. 

One member of this team, Chris Martenson, a pathologist and former VP of a Fortune 300 company, explains their findings:

"We found an identical pattern in our debt, total credit market, and money supply that guaranteesthey're going to fail. This pattern is nearly the same as in any pyramid scheme, one that escalates exponentially fast before it collapses. Governments around the globe are chiefly responsible. 

Click here to see how banks are escalating the collapse...
"And what's really disturbing about these findings is that the pattern isn't limited to our economy. We found the same catastrophic pattern in our energy, food, and water systems as well."


According to Martenson: "These systems could all implode at the same time. Food, water, energy, money. Everything." 

Another member of this team, Keith Fitz-Gerald, the president of The Fitz-Gerald Group, went on to explain their discoveries. 

"What this pattern represents is a dangerous countdown clock that's quickly approaching zero. And when it does, the resulting chaos is going to crush Americans," Fitz-Gerald says.

Dr. Kent Moors, an adviser to 16 world governments on energy issues as well as a member of two U.S. State Department task forces on energy also voiced concerns over what he and his colleagues uncovered.

"Most frightening of all is how this exact same pattern keeps appearing in virtually every system criticalto our society and way of life," Dr. Moors stated.

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