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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on October 20, 2009, 12:38:46 PM
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Niall Ferguson: U.S. Empire in Decline, on Collision Course with China
Posted Oct 20, 2009 07:30am EDT by Aaron Task in Newsmakers
Related: FXI, PGJ, ^GSPC, ^dji, SPY, LMT, RTN
The U.S. is an empire in decline, according to Niall Ferguson, Harvard professor and author of The Ascent of Money.
"People have predicted the end of America in the past and been wrong," Ferguson concedes. "But let's face it: If you're trying to borrow $9 trillion to save your financial system...and already half your public debt held by foreigners, it's not really the conduct of rising empires, is it?"
Given its massive deficits and overseas military adventures, America today is similar to the Spanish Empire in the 17th century and Britain's in the 20th, he says. "Excessive debt is usually a predictor of subsequent trouble."
Putting a finer point on it, Ferguson says America today is comparable to Britain circa 1900: a dominant empire underestimating the rise of a new power. In Britain's case back then it was Germany; in America's case today, it's China.
"When China's economy is equal in size to that of the U.S., which could come as early as 2027...it means China becomes not only a major economic competitor - it's that already, it then becomes a diplomatic competitor and a military competitor," the history professor declares.
The most obvious sign of this is China's major naval construction program, featuring next generation submarines and up to three aircraft carriers, Ferguson says. "There's no other way of interpreting this than as a challenge to the hegemony of the U.S. in the Asia-Pacific region."
As to analysts like Stratfor's George Friedman, who downplay China's naval ambitions, Ferguson notes British experts - including Winston Churchill - were similarly complacent about Germany at the dawn of the 20th century.
"I'm not predicting World War III but we have to recognize...China is becoming more assertive, a rival not a partner," he says, adding that China's navy doesn't have to be as large as America's to pose a problem. "They don't have to have an equally large navy, just big enough to pose a strategic threat [and] cause trouble" for the U.S. Navy.
http://finance.yahoo.com/tech-ticker/article/357319/Niall-Ferguson:-U.S.-Empire-in-Decline,-on-Collision-Course-with-China
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I have an idea - lets engage in marxist economics, cap & trade, tax hikes, and a world apology tour.
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this is too much already. how long have we been hearing this? for 2 years they've been laying it on pretty thick.
if no one has come up with any solutions by now. you know they are fucking with us
it's bullshit already.
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I disagree that the US is an empire like Britain or Spain once were. They had territories (still do in Britain's case) that are around the world. America has a strong dollar and military force. Not comparable IMO.
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this is too much already. how long have we been hearing this? for 2 years they've been laying it on pretty thick.
if no one has come up with any solutions by now. you know they are fucking with us and in control of all of this.
seriously it's bullshit already.
Exactly...a thought that I rationalize in my head is that I hope that we really do keep electing these imbeciles over and over. At least then the problem is fixable(if more people would wake up).
With the way we know it is the problem is not fixable or at least it never will be.
Did that make sense?
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Exactly...a thought that I rationalize in my head is that I hope that we really do keep electing these imbeciles over and over. At least then the problem is fixable(if more people would wake up).
With the way we know it is the problem is not fixable or at least it never will be.
Did that make sense?
The problem is surely fixable if we are honest about the solutions and hard work ahead. From what I can tell, the deceit, lies, and propaganda are only increasing.
We need to re-industrialize and bring back production to this nation. We need to get rid of the EPA, Qi Tam law suits (look it up), end the Enviro lobbys' ability to shut down all progress by filing frivolous suits, and make our nation competitive for businesess.
I see the opposite as occuring.
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I disagree that the US is an empire like Britain or Spain once were. They had territories (still do in Britain's case) that are around the world. America has a strong dollar and military force. Not comparable IMO.
we have bases all over the world. the countries get to fly their flag, but the little city block with all the ICBM's calls the shots if shit ever gets hectic ;)