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'There will be blood' Harvard economic historian Niall Ferguson predicts prolonged financial hards

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posted on Apr, 23 2009 @ 12:47 PM
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'There will be blood' Harvard economic historian Niall Ferguson predicts prolonged financial hardship, even civil war, before the 'Great Recession' ends


www.theglobeandmail.com

Harvard author and financial crisis guru Niall Ferguson has landed with a thud in Ottawa, spreading messages that could make even the most confident policy makers squirm.

The global crisis is far from over, has only just begun, and Canada is no exception, Mr. Ferguson said in an interview before delivering a presentation to public-policy think tank, Canada 2020.

Policy makers and forecasters who see a recovery next year are probably lying to boost public confidence, he said. And the crisis will eventually provoke political conflict, albeit not on the scale of a world war, but violent all
(visit the link for the full news article)




posted on Apr, 23 2009 @ 12:47 PM
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Niall Ferguson states in that article and i quote

much of today's mess is the fault of central bankers who targeted consumer-price inflation but purposefully turned a blind eye to asset inflation.


I know, just like many of you that he is right. Meanwhile most of the media, and the world tries to put the blame squarely on consumers, aka Capitalism, the reason for all this mess is because the bankers wanted for this to happen. They wanted this shift in power to go towards the banking lenders who put the world, and including the U.S. in their hands, the hands of private bankers through Socialist programs.

This is a very long article, 5 pages long.

As to his statement about "there will be blood" he describes this a bit more in depth further down on the second page, in which Fergurson states:


“There will be blood, in the sense that a crisis of this magnitude is bound to increase political as well as economic [conflict]. It is bound to destabilize some countries. It will cause civil wars to break out, that have been dormant. It will topple governments that were moderate and bring in governments that are extreme. These things are pretty predictable. The question is whether the general destabilization, the return of, if you like, political risk, ultimately leads to something really big in the realm of geopolitics.


So this is another "financial guru" and aa Harvard author who differs from the claims that this crisis will end soon.

I just hope people get to understand they need to make preparations for when those who did not prepare will turn violent as they see their families going hungry, or just themselves going hungry and resorting to violence because of this.



www.theglobeandmail.com
(visit the link for the full news article)



posted on Apr, 23 2009 @ 01:18 PM
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You said it man.

It's not just the consumers fault, although it is not just the bankers fault either, everyone is to blame, although bankers a little more for being a control figure that mismanaged alot!

I can see families going hungry and violence climbing, in my city alone crime has gone up 100% in just this last month, (albeit it was a particularly peacefull city) The store I get cigarettes from was robbed of the kind I smoke, so I went to another store, same guys hit there, until I found one store that had not been hit, (Really felt like someone was telling me to quit)


Not only cigs were stole, clothing, food, necessities. Which was particularly a nerve in me being struck, to see it go from a basic greed, to almost survival techniques. ( They caught the family doing it and they are awaiting trial, costs of damages and stolen goods were roughly 25k) They broke everything!

Nevre thought I would see careless looting and careless violence in my city, other then drug dealers shooting each other, this is like Dick and Jane but without the happy ending.



posted on Apr, 23 2009 @ 01:37 PM
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Interesting article but this is hardly breaking news. The date on the article is February 23.



posted on Apr, 23 2009 @ 02:58 PM
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However if we do not read it here, we most likely never will!

Just another data point to keep in mind as things escalate through the summer.


All we seems to get in the news is how Nancy Pelosi had no idea advanced interrogations were going on. What is the news for now anyway, promoting favors and a s s kissing live via HD TV?

[edit on 23-4-2009 by IntelRetard]



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