Niall Ferguson: Will Debt Trigger US Collapse?

[Lars77]

Run time: 04:02 https://www.youtube.com/watch?v=rPBp3e6t7Ik   Posted on YouTube: September 17, 2010 By YouTube Member: ForaTv Views on YouTube: 1845   Posted on DU: September 19, 2010 By DU Member: Lars77 Views on DU: 1325

 

[applegrove]

1. Neocons like him can only hope! Grrrrrrrrrrrrrrrrrrrrrrrrr.

[Quixote1818]

2. Our Debt to GDP ratio after WWII was 120% almost twice what it is now

we got out of it by growing ourselves out of debt and by taxing the wealthy at 91%.

[JDPriestly]

10. Back then, we had factories. We produced stuff.

Now, we are a "service" economy. You cannot export a massage.

[jwirr]

3. National debt or personal debt or both?

[chervilant]

4. Interesting

how this poor wee mannie presupposes that defense spending should be sacrosanct.

Furthermore, he uses the wrong verb tense when he's discussing China.

Finally, he epitomizes what I'm seeing frequently from such 'learned' individuals:

Insanity is doing the same thing over and over again, expecting different results...

[Davis_X_Machina]

5. No. Debt is the big explosion, or if you're doing an 'Oceans' movie...

...the earthquake machine, that you need for a diversion while the real job goes down across town.

Very rich people need you to be paralyzed by the size of the national debt, and the current account deficit. Once you're frozen, they can lift your wallet more easily.

[chervilant]

15. Oh, so true!

Much of my volunteerism is focused on advocacy--of late, advocacy for the chronically un- and underemployed. Most of those for whom I advocate are completely paralyzed--by fear, depression, despondency, or basic resignation to 'the way things are'! Finding energy for activism of any kind is nearly impossible when most of your energy is spent struggling to gather enough money to cover your basic necessities (housing, utilities, and food). And, when meeting these micro-level needs sucks up most of your time and energy, it's virtually impossible to contemplate the macro-level issues you've mentioned: the current account deficit, the national debt, the endless drain on our resources known as the DoD...

That being said, it bears repeating that the hoi polloi is about to reach critical mass. While it's difficult to pinpoint exactly where and when will be the tipping point, it will come. History tells us that it's inevitable.

I wonder, do the French have enough guillotines to send our way?

[lxlxlxl]

6. he started this march early on in the election year...once they realized gop loss

but yeah this shit is built for 'we just started paying attention' types...yawn

[lxlxlxl]

7. also fora tv pushes a lot of really conservative bullshit under the guise of 'openness'

just fyi...

[bjobotts]

8. Destruction of top soil, ozone, climate change,drinking water,,outsourcing the economy and deregulat

deregulation will trigger collapse of democracy as the corporate plutocracy and the buying of lobbyists run government will trigger collapse.

The repubs through us into debt with nothing to show for it but increasing the wealth of billionaires and millionaires and have now done nothing but rage against spending to stimulate the economy for those middle class Americans who so desperately need saving. They have obstructed every piece of legislation and all appointees to get government up and running again so the economy can flourish because all they stand for is protecting the wealth of the millionaires and billionaires who are selling out the country for profit.

Watch the million dollar propaganda flow now on the propaganda TV FAUX from unidentifiable sources since Citizens United decision. Shut it off and just know not to vote for those who brought us this economic disaster and still haven't changed any part of their platform. The robber Barons and economic royalists are back with lobbyists writing the legislation for the repubs to enact. Example: Boehber is as dumb as a box of rocks along with Cantor and the rest and huddle with lobbyists before every legislation comes up just to know what to say...but question them and it's amazing just how stupid they really are.

If dems lose the majority this time there won't be a next time, the crazies will devastate the economy into a full blown depression which will not have any affect on the Millionaires and Billionaires...just 98% of the rest of Americans.

[JDPriestly]

9. We have to stop outsourcing and importing.

I have a friend who is about to be foreclosed. She and her daughter had businesses -- and outsourced their work to China. I warned her about this, but businesses that didn't set up factories in China could not compete.

Our trade policy is just stupid.

[Enthusiast]

11. "Our trade policy is just stupid."

And completely without regard to the consequences. This rabid outsourcing is nothing short of a treasonous betrayal of America's working people.

[4dsc]

12. While it may help actually less oil will trigger the collapse

Peak oil is coming this decade along with this massive debt bomb.

We are living in interesting times..

[txlibdem]

13. Just another GOP scare tactic

Fear the DEBT
Fear the Black Man President
Fear the Socialism
Fear the Fascism
Fear the "Tax Increases" (that are actually exactly what the Rethugs planned, cuts expiring after 10 years as planned)
Fear the EPA
Fear the Carbon market
Fear the ...

[Jim Sagle]

14. No. This has been another in the series 'Easy Answers to Simple Questions'.