Ferguson and Faber: Sovereign Debt Crisis Will Spread World-Wide, U.S. Debt Is Unsafe

In a must-read essay, Niall Ferguson slams the prevailing Keynesian consensus, and says that the sovereign debt crisis in Greece will spread to America:

What we in the western world are about to learn is that there is no such thing as a Keynesian free lunch…

US government debt is a safe haven the way pearl harbor was a safe haven in 1941.

And in a must-watch interview, Marc Faber says that the US, Europe and the entire developed world will default on their debt:


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