"Switzerland is first in line… and Britain is not far behind." -Niall Ferguson
Niall Ferguson, respected economic historian, warns of other European countries facing an Iceland style bankruptcy.
Read the full article: Bankrupt Britain.
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UK: Banks Were Just Three Hours From Collapse
UK and Iceland: Not So Different
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2 hours ago
4 comments:
This is laughable, I wonder if it hurt when he pulled the numbers from his behind. Next time he makes up a worse case scenario, make it even worse. Bailout costs for US 5-7% of GDP......... maybe the range should have been 5-70%. The government has put $8 Trillion on the line.
I noticed that too... his estimates are now 'dated'... and woefully inadequate.
/ES @ 701 @ 3:33 PM.
ben...can you imagine a world where every nation defaulted on its debt? if one card is pulled out what happens to the house!
his theory of the twentieth century is that race was the cause of all the troubles,
not class or wealth or power issues,
that is pathetic
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