The Math Doesn't lie - We've Got Bigger Problems Then Elections!Submitted by hawkiye on Sun, 09/30/2012 - 02:54
This really lays out how we are in serious trouble and how it will seem almost fine right up until the collapse of things and not only will it be financial and economical but it will be energy food water and environment. How it keeps expanding exponentially. While there is a bit of a slant on it (isn't there always?) I believe these guys lay out just how dangerously close we really are. Before you dismiss this as just more doom and gloom hype these guys really give the whys and numbers better then most..
They also talk about peak oil but not like you think they explain it's not that we are going to run out its that production is already behind demand and that will make prices skyrocket at some point. I usually don't listen to peak oil arguments much but these guys make a lot of sense.
I think there is a lot of info in there that people need to know and understand...
"Economist Richard Duncan: Civilization May Not Survive 'Death Spiral'
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 guarantees they'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."
Here is an excellent video also that everyone needs to see This may be the most important thing you will ever watch: