As summarized by "The Housing Time Bomb," Niall Ferguson has warned about a real risk of high Treasury debt levels precipitating an all-out debt crisis because of the bloated interest-payment component of the U.S. federal budget. Ferguson predicts trouble within two years.
The video, along with "The Housing Time Bomb"'s comments, is here.
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Good topic! BTW, an hour-long speech by Niall Ferguson on this topic along with a 20-minute Q&A period is available at the following link as an mp3 file.
ReplyDeletehttp://feeds.feedburner.com/PetersonEventPodcast.xml
This speech was given on May 13, 2010 at the Peterson Institute.
Hope this helps.
Thanks for the link, John. It was a fascinating speech; it helped a lot.
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