Loading...

"The New Depression" by Richard Duncan

| Jeff Glor talks to economist Richard Duncan about his newest book, "The New Depression: The Breakdown of the Paper Money Economy," which explores how credit creation and consumption became the drivers of the economy, as opposed to capital accumulation. Duncan looks inside the financial crisis -- which he predicted in his 2003 book, "The Dollar Crisis" -- and warns how the global economy is poised to enter a New Great Depression unless certain steps are taken to avert it.