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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Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.