Economist: Civilization May Not Survive ’Death Spiral’
2012 09 12
By Terry Weiss | MoneyMorning.com
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.
"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 critical to our society and way of life," Dr. Moors stated.
Read the full article at: moneymorning.com
Tune into Red Ice Radio:
Bill Still - Hour 1 - The Money Masters & The Secret of Oz
Birgitta Jonsdottir - Financial & Political Update from Iceland
William Dean A. Garner - Hour 1 - World Control, Gold & The Jesuits
Tracy Twyman - Alconomics, Money & Magic
Ellen Brown - The Web of Debt & The Manufactured Financial Crash
Joseph P. Farrell - Babylon’s Banksters, Nazi International & Global Finanical Blackmail
Jim Marrs - Trillion-Dollar Bailout Conspiracy, American Revolutions & Wikileaks
Joan Veon - G20, Global Credit Crisis & Public-private Partnership
Moody’s cuts EU outlook to ‘negative’
Barroso unveils European banking union
Europe unveils banking union plan to tackle crisis
Latest News from our Front Page
Secret underground tunnels of ancient Mesopotamian cult revealed under Ani ruins
2014 09 01
For the first time in history, the academic world is paying attention to the spectacular underground world of Ani, a 5,000-year-old Armenian city located on the Turkish-Armenian border. Hurriyet Daily News reports that scientists, academics, and researchers have just met at a symposium in Kars titled ‘Underground Secrets of Ani’ to discuss the city’s underground world mentioned in ancient ...
A Government Vision Of The Future That Isn’t That Great
2014 09 01
Here’s a report by the UK Ministry of Defense, a document that they’re not hiding - it’s not classified. In fact, they WANT you to read it: the Global Strategic Trends 2045. For your convenience, they’ve even produced a handy video about their dire predictions:
They present a warning call for how things are going to be bad in the future. ...
Bad Memories Turned to Happy Ones in Mice Brains
2014 09 01
Memories are often associated with emotions, and these feelings can change through new experiences and over time. Now, using light, scientists have been able to manipulate mice brain cells and turn the animals’ fearful memories into happy ones, according to a new study.
Memories are encoded in groups of neurons that are activated together or in specific patterns, but it is ...
CIA MKULTRA: they intended to use drugs for “everything”
2014 09 01
Drugs to transform individuals…and even, by implication, society.
Drug research going far beyond the usual brief descriptions of MKULTRA.
The intention is there, in the record.
A CIA document was included in the transcript of the 1977 US Senate Hearings on MKULTRA, the CIA’s mind-control program.
The document is found in Appendix C, starting on page 166. It’s simply labeled “Draft,” dated 5 May ...
Harmful Compound Found in Many BPA-Free Bottles
2014 09 01
A chemical found in many products labeled “BPA free” may produce many of the same health problems as the original chemical, including hyperactivity and cardiac arrhythmia, according to a pair of studies presented recently at the joint meeting of the International Society of Endocrinology and the Endocrine Society in Chicago.
“BPS, termed the safe alternative to BPA, may be equally as ...
|More News » |