Posted on 03/16/2011 9:09:25 AM PDT by Heuristic Hiker
The current inflation scenario is reminiscent of the 1970s and the transition of economic dominance from the United States to China is already well under way, Harvard Professor Niall Ferguson told CNBC Monday.
Geopolitical events all add up "to a pretty bearish scenario because of all the inflation implications we're seeing right now," Ferguson said.
"You already had massive deficits and money printing in the developed world," he said. "On top of that you had enormous demand-side pressure from China relative to commodities."
"Now you've got the prospect of massive geopolitical disturbance in the great oil-producing centers of the world," he added. "That has to be a pretty inflationary scenario."
"At best case, we're going to re-run the 1970s, only with Barack Obama instead of Jimmy Carter in the White House," Ferguson said.
Globally, Western dominance peaked in the 1970s and the rise of Eastern dominance is evident with China taking over the top spot as world's biggest manufacturer, he said.
The dollar will likely keep its status as a reserve currency for a while, but there is "a sense around the world that exposure to the dollar has higher risk in it," Ferguson said.
© 2011 CNBC.com
“Yes, they managed to wreck Athens twice.”
(Ender’s Game, Orson Scott Card, p. 128)
Just our luck to have two complete morons occupying the White House when we get our 0300 "historical rearrangement" phone calls. Jim Carter I and Jim Carter II (JImmy I on steroids), I'm afraid to say will probably manage to wreck us twice.
Not just the new Jimmah, but the New and Improved version! Twice the marxism!! [at least]
It's going to be much, much worse this time. Oboma makes Jimmy Carter look like a political genius.
Carter was worse.....sorry this does not seem as bad to me. Carter sucked big time.....horrible President. Obama is second worst. I am sure those 240 (or so) folks that were taken in Iran would agree with me.
“Barack Obama Is the New Jimmy Carter”
I disagree-Obama is trailblazing new standards of presidential incompetence. Carter was clueless; Obama is clueless and completely apathetic. We’ve never seen a president who cared less about even appearing to be engaged. The MSM is carrying his water and he counts on it.
More like Mao meets Arafat meets Alinsky meets Malcom X.
“Barack Obama Is the New Jimmy Carter”
He’s THAT good?
I don’t think barry is the next jimmah.....I think he is worse. IMHO, jimmah simply had NO idea what the heck he was doing.
OTOH, barry knows EXACTLY what he is doing.....bringing America to it’s knees in order to destroy us, on purpose.
Jimmah was just a little “dumb in the head”.....barry is just evil.
Carter was a hapless micromanager, Obama is a complete cipher of NO discernable talents save reading from a teleprompter and being half black half white, which for some strange reason excites the hell out of white liberals.
I imagine that a week old pile of dog waste from my backward would be more effective than this limp-wristed, commie f@gg@t.
BUT HEY AT LEAST WE KNOW HIS COLLEGE BASKETBALL PICKS!
OH BOY!
He is about 10 times worse than Carter.
Niall Ferguson bump for later.......
And he even screws that up!
Good ‘analysis’...agree completely. Barry has gotten a pass all his life based on nothing more than skin color. Early on he figured out he was completely untouchable/bulletproof, surrounded by a herd of babbling tard yes-men and ‘conservatives’ too cowed to speak up.
I wonder how many “gimmes” he takes on the golf course. He surly takes many of them in his everyday life! has the puppet master condemned him to the golf course or basketball court during all the unrest in the world? He is certainly not leading.
I wonder how many “gimmes” he takes on the golf course. He surly takes many of them in his everyday life! has the puppet master condemned him to the golf course or basketball court during all the unrest in the world? He is certainly not leading.
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