I had written a piece formally working out the exact conditions you need for what the Citrini essay describes to actually happen. In short, you need very strong/strange conditions on both on preferences (satiation and no new goods) and on what happens to investment. Plus no fiscal policy. I started out with a strong intuition that this was plausible, but that's the value of economic theory: intuition is confronted with the discipline of formal logic. Often you learn something new. Going through the exercise made me conclude that this scenario is very unlikely. Here is the essay write up, with all the math in a linked technical note.