Harvard Prof. Niall Ferguson on Decline of America and Rise of a New Global Economic Order 2/3

Harvard Prof. Niall Ferguson on Decline of America and Rise of a New Global Economic Order 2/3

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• Niall
• Ferguson
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• Harvard
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• dollar
• devaluation
• hyper
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• China
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[chined86]

I love this man 'Niall Ferguson'.

[MarcusCMarcellus]

Charlie Rose is like a mentally retarded child! Buffet's RR purchase is NOT a vote of confidence but a projection of massive inflation as a result of Ferguson has been trying to tell this suited monkey. Rose's smug smile when Ferguson mentioned Argentina could be taken as the symbol of that peculiar American ignorance and arrogance that has done the country in. Argentina is we're lucky; Wiemar if we're not.

[Matier2064]

8:34. Help me God.

[SlyngBlade]

@zuzupetals1999 word - on charlie rose! lmao - that stupid fuck!

[sammoreton1]

Since 2 years ago, USA deficit has grown from $9 T to $14 T dollars, I don't know what can be accomplished by political will and innovative corporations when this is the state if affairs

[88roro11]

and our exports have not really increased.. and not much has changed.. out nat debt is only 5 trillion more :P

[m1trekker]

@particalman86 Most of Ferguson's comments are obvious. The rise of China was well understood in 2009 so hardly surprising in 2011. To suggest US default is just getting a headline to sell a book. The US will not default. The US sits on some of the most innovative companies in the world. The US can solve its deficit problems quite easily given political will. I think that is also well understood in 2011.

[particalman86]

@m1trekker This was posted in 2009, I'm assuming that this was recorded before Nov 2009. Its September 2011. Niall says what he think is going to happen to our economy. And he is right. I don't understand what point you are trying to make.

[m1trekker]

It is useful in academia to say something controversial, it gets you noticed but doesn't mean to say you are right.

[zuzupetals1999]

Someone needs to teach Charlie Rose the meaning of the term "Shut the Fuck up". What a tool.

[equsnarnd]

Charlie Rose doesn't know shit from Shinola but he reads other people's emotional response to events and decides reality based on that. The true second hander. No opinion of his own, just living off the psychological states of other people. Pitiful!

And the idea that we can carry huge amounts of debt and this is cool, and that we can trash the dollar and that will help our exports is truly idiotic!

[sebar345]

The comparison with Argentina misses two important differences:

-Argentina issued most of its debt in dollars given the lack of confidence in the local currency, so they had little control over monetary policy.

-Argentina adopted a fixed exchange rate, so a depreciation that allows a competitiveness increase was not available. Only a traumatic devaluation was possible.

US issues debt in its own currency and affects dollar exchange rates, so US is less susceptible to financial market fears.