Niall Ferguson – Greece Is No Different from the US

5.25.2010

“by 2040, all federal tax revenues will be consumed by interest…of course it will never get there because that’s just impossible…what debtors will be sacrificed?”

“Inflation is everywhere a monetary phenomenon” – Milton Friedman

“Deficits everywhere are a political phenomenon” – Niall Ferguson

Niall Ferguson gives an excellent lecture on the dangers of hyper-Keynesian policies. He reviews the history of government debt, and explains the current trends and the mistakes being made by governments who over-borrow and misunderstand the dangers involved. He also explains how weak GDP growth compounds debt problems.

“Investors keep forgetting to learn from history no matter how hard I try to teach it!”

Let’s try to listen:

Q&A session