This series of lectures is a compelling challenge to complacency. I'm not finished thinking about the points raised here, and the lectures are not complete, but I think as far as it goes, this is a striking bit of analysis. His point about the national debt being 40 trillion dollars or so includes the present value of future Social Security and Medicare obligations. These are real obligations, but they differ from conventional debt in that they are owed to elderly Americans and not to foreign creditors. As such, these obligations are subject to modification or elimination via internal political processes and have, thus, somewhat less weight than conventional debt obligations. Also the illustration of exponential growth is a bit exaggerated as it uses progressive doubling as the rate of increase. This yields very dramatic results compared to more modest growth rates. Still, these lectures are quite striking, and embody a lot of truth. Have a look and listsen. Talks by Chris Martenson PhD
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