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Post by avordvet on Aug 13, 2012 6:41:34 GMT -5
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." moneymorning.com/ob/economist-richard-duncan-civilization-may-not-survive-death-spiral/
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Post by safetalker on Aug 13, 2012 7:21:01 GMT -5
What is his description of 'Civilization" ? Civilizations do not die ever. Go to New York City, San Francisco, Boston, or even here in Fayetteville NC. When you get there don't go to the malls. Go instead to the local red-light district. There you will find people living in older houses. You will see their kids playing around the front door under the supervision of the elder of the family. This person is usually a Grand Mother or Grand Father. The bread earner will also be there around 6PM. Sitting on the steps possibly sipping a coke or a beer or maybe smoking a joint. This is how it was in 1929 and still is today. Then take a bus if you are in a big city over to China Town and you will see an exact replica of every china town from New York, Paris, Bonn, Berlin, Hong Kong, or Macau. These are true civilizations not the made for TV suburbs we have been shown on Father knows best, Leave it to beaver, or Happy Days. I own a house I bought in 1975 after I returned from Okinawa and Vietnam. It has 3 bedrooms and 1 bath. I remember getting up at 2 AM many mornings and slipping out to the back bushes and watering them when one of my kids were in the only bathroom. This house was big enough for me and my wife with three kids, but today it is too small for me and her. Why? Simple. The ads on TV have convinced us that we need over 900 square feet per person to live comfortably. This is how the bankers make money on loans. This is also how they use development to secure land they would have had to pay for instead they foreclose and get it free. No Civilization will not end. Just the over inflated assumptions we have learned. When the money runs out and the banks send the cops to put us off the land we will take only what we really need and walk away to go live in a hut in the woods. We will learn again to farm with out a John Deere combine. we will learn that possum may look like a big rat, but it works great to keep the stomach off the back bone. However along with this re-emergence of self sufficiency will come a re-emergence of independence and the demand for our rights since we will be getting no checks.
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Post by dirtfarmer on Aug 13, 2012 9:05:19 GMT -5
Well said Safetalker
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