The Phaserl


Peak Credit – End of Civilization?

by Greg Hunter, USAWatchdog:

Could the credit crisis we face globally destroy civilization as we know it? Richard Duncan, author of a new book called, “The New Depression: The breakdown in paper money,” says yes! Duncan claims the $50 trillion in credit expansion in the last 40 years must continue or the system will basically fall into complete chaos. In an appearance on the European version of CNBC last week, Duncan said, “If this credit bubble pops, the depression is going to be so severe, I honestly don’t think our civilization could survive it.” My question is why doesn’t CNBC have this guy on in the U.S.? Maybe the possible scenario he is talking about is just too scary and really bad for selling stocks? Who knows, but it is well worth a listen and something you should know about. Please enjoy the video and discussion.

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4 comments to Peak Credit – End of Civilization?

  • Tom G.

    Don’t agree with Duncan that the govt could get itself out of this mess, but Duncan is really a thoughtful guy. I read his book “The Dollar Crisis” cover to cover and he really is right on target on most of his contentions (notwithstanding the one I mentioned above). Duncan, though he did not mention it in this particular interview, is the only economist I am aware of that is in my camp in our contention that this whole mess has alot more time to run than most people think. Duncan said in another interview that we have 5 more years before this whole mess collapses. I agree plus or minus a year or two. The best interview I saw Duncan give was when he was in a car with David Morgan a couple of years ago if you can catch it on you tube.

  • bestkeylar

    What a frigging asshole!!! Lets party for 10 more years and let our kids pay for the cleanup? Here’s an idea. DEFAULT,DEFAULT,DEFAULT and start building a better future for the next generation of Americans.

    • Travis

      Interesting interview until last 30 seconds when this guy says government should spend money so we can party for another 10 years. Very dumb.

  • Tony

    For anyone to time the collapse is either disingenuous or arrogant. I do agree with most everything else Duncan says.

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