Harvard Economics Historian Niall Ferguson believes that the U.S. will be facing debt problems in the median to long term. In the video below, Ferguson claims that the U.S. is not “very far behind” from Greece when it comes to debt problems and that investors will eventually become worried about the U.S. fiscal situation.
Niall Ferguson must be forgetting that the U.S. is too big too fail. And if it’s not and does fail, the world financial system would likely go down along with it. All in all, if the United States gets a Game Over, we all do.
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It will not be the end of the world if this inefficient system — the one where millions of people commute to offices and do nothing productive — ends with a whimpering thud. When it does fail, I’d like to reconfigure Hamilton College for the new era. The era where we don’t set boundaries to learning and we all do something creative and constructive.
Rafael- Thanks for summarizing the Chanos — and other — presentations. Matt