[Sailorsam]

http://moneymorning.com/ob/economist-richard-duncan-civilization-may-not-survive-death-spiral/

"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."

serious stuffs.

"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."

 

[Dryades]

Economist warns: 'Death Spiral' in west. Just woow. After everything that is going on and they just figured it out. Woow. So how would I respect anything they say knowing they are so dense that it took them until now to figure it out?

 

[Baddogg5]

I myself am not so "DOOM and Gloom" about the economy... I am more just Gloom...the Doom part wont happen until Obama get re elected

 

[gamgee]

Death spiral sounds serious.

 

[Dude111]

Things are so bad now and the worst part is: MOST DONT KNOW!! (The sheeple are open cattle for the elite when they put this into action)

 

[foxkitten86]

Buy land. Pay five years taxes in advance. Plant edible bushes, fruit and nut trees, perennial veggies. Create a BOL, even if the house is a cheap shed to be developed into a home over time. Do it now. Right now. Today. If your BOL is nice enough, you have a private and hopefully wonderful place for weekends and holidays. We have no idea what tomorrow might bring, so BE PREPARED.

 

[Despierto]

The problem is fear of inflation. If/when they just kick start inflation the can will receive a hefty, decade long kick.

 

[Jash]

Economist warns: 'Death Spiral' in west. Just woow. After everything that is going on and they just figured it out. Woow. So how would I respect anything they say knowing they are so dense that it took them until now to figure it out?

They figured it out long ago. It's just become so blaringly obvious now they cannot say anything else.

The emperor has no clothes.

 

[BoycottTheDay]

Death spiral sounds serious.

Shouldnt be a problem until the sudden stop. :thumb:

 

[Highlander]

The article reads like a doom n gloom article designed to set you up for the sale. Y preying on your fears. It offered just vague information and kept prompting to "read more" by following links.

It reeks of fail.

 

[txflyer]

This is why guys like Jim Rogers move to Singapore and are loading up their portfolios with resource based investments.

It goes deeper than money. Soon, and I say that in a loose way, our ability to feed and water the world population will reach a glass ceiling. Corn, soybeans, rice, and other crops have been engineered to produce more, but that manipulation has a ceiling.

In other words, as Jeremy Grantham reveals, in the area of horse racing, horses run no faster now than they have since 1920. The breeding and manipulation in horses has hit it's ceiling. This will happen with crops as well.

 

[Vette]

This is why you need to get your hands on anything tangible. Food, water, ammo, PMs, wood, land, tools.

Paper money in a country that is $16 Trillion in debt is only worth something because of tradition.

 

[Aubb]

Death spiral,lol ain't nuthin gonna happen to this great country.
At least until this Oct.

 

[RKW]

Buy land. Pay five years taxes in advance.

Are you allowed to do that? I thought that land values were assessed each year.

 

[BoycottTheDay]

Every 5 years around here.

 

[RKW]

Every 5 years around here.

I'll check in to that and make certain how frequently they assess here. Thanks.

 

[Mule Skinner]

Are you allowed to do that? I thought that land values were assessed each year.

Depends on the place. Some are happy to take payments in advance. They can always ask for an adjustment if it is needed.

 

[JustaCountryGirl]

Buy land. Pay five years taxes in advance. Plant edible bushes, fruit and nut trees, perennial veggies. Create a BOL, even if the house is a cheap shed to be developed into a home over time. Do it now. Right now. Today. If your BOL is nice enough, you have a private and hopefully wonderful place for weekends and holidays. We have no idea what tomorrow might bring, so BE PREPARED.

Our stupid county will not LET you pay property taxes ahead! I think that is because they plan to raise them every year:xeye:

I do pay my water bill a year in advance, but I have been doing that forever because it is so small - I don't want to write 12 checks for 30 bucks when I can just write one big one and forget about it:thumb:

 

[aramchek]

If the premise of the article is true, it would suggest a collapse of the economic + political system -- the same one that is responsible for property records, titles, deeds, etc. Why throw so much money into something which is not mobile, not easily sold if there is an overall breakdown, and you're not sure whether a functioning government will be around to legally champion your claim to the property?

I'm not saying that land won't be valuable, but it'll require a functioning government to back up a legal claim to it. So why sink that much money into it?

 

[RKW]

If the premise of the article is true, it would suggest a collapse of the economic + political system -- the same one that is responsible for property records, titles, deeds, etc. Why throw so much money into something which is not mobile, not easily sold if there is an overall breakdown, and you're not sure whether a functioning government will be around to legally champion your claim to the property?

I'm not saying that land won't be valuable, but it'll require a functioning government to back up a legal claim to it. So why sink that much money into it?

I envision a situation, like the Great Depression, where government and banking institutions use your inability to pay property taxes and to service debts as a means to evict you. I don't see a complete break down of the system. If it does get to that point I suppose property taxes will be the least of our worries.

Just thinking out loud....