Niall Fergusson on sovereign debt

This is an enormously important speech by prominent historian Niall Fergusson on the sovereign debt problem of the western world. The western States WILL default, and the implications of this are enormous. The wellfare state model as we know it will end, in our lifetime. It’s no longer prudent to hope for a mitigated solution, DEFAULT IS COMMING. Prepare now for impact. Buy gold.

http://www.piie.com/events/event_detail.cfm?EventID=152&Media

Speech starts at 8.30 minutes, also listen to the q&a session.

Norwegian curiosity; “our own” Herbjørn Hansson asks a question at the q&a session.

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