Death Spiral

Money Morning Staff: Richard Duncan, formerly of the World Bank and chief economist at Blackhorse Asset Mgmt., says America’s $16 trillion federal debthas 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.”…

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