Thursday 26 July 2012

Peak Credit

Guy McPherson: But Duncan doesn't acknowledge limits to growth, of course, so he thinks technology will further civilization (which, in his view, would be a good thing)

Peak Credit – End of Civilization?
By Greg Hunter’s 

24 July, 2012

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. .

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