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The financial service is a legitimate product as a crankshaft handle, a bicycle wheel, a girder or a bushel of wheat .. sorry Niall but may I interject ..
FUCK OFF!! you magniloquent twat. You are a historian (supposedly). You know how money came into being and why and what it has become because of its propensity to be manipulated and thus disconnected from its real world manifestation. Get off you high horse. You dont fool us here at home as you do the yanks.
CredoCordis 2 months ago
Can I remind Niall Ferguson that Bernanke, (the person he believes has a grip on history) responded to Ron Paul's question on State bailouts and the possibility that California cannot and will not repay its bailout ... responded with " ..well if they dont repay the Fed will absorb their share of the loss..." WHAT LOSS??!!! The Fed prints paper!!
CredoCordis 2 months ago
He's right this is not going to be Great Depression 2.0 - this is more The End of Current System 1.0.
Apart from that, it is quite startling that he thinks this is recoverable. He bases his insight into what has gone before .. a natural leaning. But we are in a moment of history never before attended upon.
He talks a good game, but as it is unfolding - he probably rethinking everything he has ever espoused.
CredoCordis 2 months ago
could u lend me a couple of hundred ha he cracks me off
toberses11 4 months ago
Apparently, Bernanke didn't know nearly enough. Or Niall is blind to what free markets need. We needed to let the banks fail, write off the bad debt, and reorganize. What we have is an insane attempt to hold the status quo with rotten fundamentals. This just puts off the day of reckoning. And makes it much worse when it does come.
equsnarnd 7 months ago
he's such an elite.
maxgunn555 1 year ago
This has been flagged as spam show
I have read this book, brilliant
zahablog 1 year ago
oh yes it is Niall. Worse much worse:( enjoy!
Allisa4757 1 year ago
this is all nice talk Niall but financial products is not the same as bicycle - coz I can't borrow bicycle for 1% and multiply it by 30 and lend all off them on 7%. and keep all the interest. The game is rigged. People are always left biting the dust. And then it's corruption of government colluding with those who pay for their election campaign. The american banks are as of today leveraged even more then before crisis and they are zombie banks. We live in a world in counterfeiting banking.
konshoff 1 year ago 2
@konshoff Join in on the fun and make some money for yourself!
spacerumsfeld 1 year ago