Harvard Professor and Krugman critic Niall Ferguson at a recent conference has warned of the coming collapse of the ‘American Empire’:
“I think this is a problem that is going to go live really soon,” Ferguson said. “In that sense, I mean within the next two years. Because the whole thing, fiscally and other ways, is very near the edge of chaos. And we’ve seen already in Greece what happens when the bond market loses faith in your fiscal policy.
In an interesting twist reminiscent of British troops playing “The world turned upside down” after the Battle of Yorktown Ferguson notes, “I know you’re not comfortable with the word ‘empire,’ especially just after the Fourth of July, but you are the Redcoats now.”Published in