How Close Are We to New Great Depression?

The risk of a new depression — a sustained, severe recession — has struck fear into the heart of markets and driven monetary policy in developed economies since the current financial crisis began.

“We’re in a very unfortunate position to be here,” Richard Duncan, author of The New Depression, warned on CNBC’s “Squawk Box Europe” Monday.

“When we broke the link between money and gold, this removed all constraints on credit creation. This explosion of credit created the world we live in, but it now seems that credit cannot expand any further because the private sector is incapable of repaying the debt it has already, and if credit begins to contract, there’s a very real danger that we will collapse into a new Great Depression,” he argued.

“If this credit bubble pops, the depression could be so severe that I don’t think our civilization could survive it.”


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Cliff Muncy
9 years ago

1. People don’t understand the system.
2. A lack of knowledge coupled with being “fat and happy”, combined with propaganda promotes apathy and stupid decisions by the people concerning their political choices.
3. Things get bad. People lose their homes, their jobs. The economy takes a nosedive.
4. Things get SO bad, the media actually starts talking about it and folks like Ron Paul finally start getting recognized as honest people who are just telling the truth and waving the warning flag saying “You’re headed for disaster! Save yourselves!!!”
5. People slowly put two and two together and begin getting concerned.
6. They participate in the rigged 2 party system. They check a box in a voting booth, voting for the “better” of two evils while still voting for evil, yet believing it will fix things.
7. They fail, or they “succeed” by electing their chosen candidate which was already chosen for them by the rigged 2 party system.
8. Things continue to get worse, whether slower or faster.
9. The people get depressed and hopeless because they failed and the country is still going downhill.
10. Things get worse. The people get concerned and even a little worried for their family, their children. A new Great Depression looms on the horizon.
11. Things get SO bad, the media reveals a little deeper truth (like the devaluation of the dollar, the artificial propping up of our monetary system through inflation, etc.), people start studying a little more and then start to realize that even “weirder” folks like John Ainsworth and Cliff & Sara Muncy are really just honest people telling the truth, waving their warning flags, shouting “That system is rigged! The solution is in YOUR hands, not the politicians!! It takes more work than just a vote! Resistance is key! It takes personal sacrifice!”
12. The people realize the truth of what they are saying. They turn and humble themselves before God and pray for guidance. They start making efforts in their own lives to resist tyranny and to live moral, responsible lives. The country bands together and says “ENOUGH IS ENOUGH! We’re not taking this any more! The government is OUR servant!” More people get on board to learn, promote, and live the philosophies of the founders. Philosophies like personal responsibility, morality, sound money, state citizenship, lawful/Constitutional government, LIBERTY!
13. The Federal government resists and puts up the best fight it knows how.
14. It fails because the people refuse to support it.
15. Re-established, demi-sovereign states are once again re-populated as lawful body politics and independent countries. Over time, statutory laws and processes are re-examined to be eliminated or conform with the intent of the Constitution. Federal agencies are reduced greatly in number, and people’s dependency upon them is reduced. People start depending on each other, their communities. The federal government is once again subject to the will of the states. The government is MUCH smaller. Income tax is GONE. Social security is GONE. Public education (as it is now) is GONE. Free markets return, productivity and profitability skyrocket, and small businesses are allowed to prosper. People no longer fear their government. Money is once again backed by precious metals. Inflation is GONE.
16. The world once again respects America as a country whose people epitomize such words as “the land of the free, the home of the brave.” The founders’ sense of perseverance and dedication in maintaining the ideals of liberty is once again renewed in the minds of the people.

Will the people maintain their Republic?


“A woman asked Benjamin Franklin what type of government the Constitution was bringing into existence. Franklin replied, ‘A republic, if you can keep it.’ ”

9 years ago

What makeS anyone think that there will not be a fall? Throughout history all past “empires” have fallen for one reason or another. Read the history of the Meds, Persians, Egyptians, Greeks, Romans, Spanish, Germany etc. all are past history. We in America have been duped by politicians in much the same way for one reason or another. The fed is just another lie passed on to us which we had NO say. There isn’t a dime’s worth of difference between the two parties we have. Bush’s New World Order is the same as o’bamas policies in one way or the other. Look at the EU, they all got duped by the money controllers too. The most important thing I can say is, read the Bible and find out all you can about the end days written about in the Bible. Go to 3ABN and listen to the messages they teach. Find Amazing Facts on the internet. These are only two of the many sources of the end of days truths. The fat lady has stepped up to the podium and has begun to sing. Those that block their ears and believe there will be a recovery if this and that happen are still believing in their political leaders that have been lying to you. Have you ever seen such natural disasters in your life time? The ring of fire is collapsing. Get ready as best as you can. The end is inevitably coming. Read Daniel and learn about the idol it speaks about. We are in the toes of the statue.