In this recent CNN interview, Harvard Professor Niall Ferguson predicts that,
barring a radical change in policy, "nasty fiscal arithmetic" will send the
U.S. into a "death spiral." Some representative quotes:
"Fiscal tightening is baked in the cake. Tax increases are coming and coming
soon... The US has a kind of stay of execution while the European crisis unfolds,
but at some point the nasty fiscal arithmetic will get everyone, including
the U.S... Treasuries are a safe haven the way Pearl Harbor was a safe haven
in 1941. It's safe until it's not safe anymore."
John Rubino is author of Clean Money: Picking Winners
in the Green Tech Boom (Wiley, December 2008), co-author, with GoldMoney's
James Turk, of The Collapse of the Dollar and How to Profit From It (Doubleday,
January 2008), and author of How to Profit from the Coming Real Estate
Bust (Rodale, 2003). After earning a Finance MBA from New York University,
he spent the 1980s on Wall Street, as a currency trader, equity analyst and
junk bond analyst. During the 1990s he was a featured columnist with TheStreet.com and
a frequent contributor to Individual Investor, Online Investor,
and Consumers Digest, among many other publications. He now writes
for CFA Magazine and edits DollarCollapse.com and GreenStockInvesting.com.
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