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Must read - The fatal arithmetic of imperial decline


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Having just read the Ascent of Money, and about to dive into Rogoff's book, I have been thinking about this sort of thing.  I wonder what does this mean practically?  Buy gold or gold miners?  Floating rate preferred of excellent credits? Move to Singapore? 


How do you play this imperial decline--to quote Munger, the failure rate of empires is 100%!

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Guest Broxburnboy

Must read article to better understand the looming funding crisis of the Federal US government. From Niall Ferguson.








Although I accept the gist of Ferguson's article, we must be aware that in academic circles there is a war going between Keynesian theorists, Friedman adherents (Supply side, trickle down, Reagan and Bushenomics), over whose fault the current fiscal and monetary mess is. Ferguson, apparently in the Freidman camp, implies that Keynesian theorists are responsible for the economic decline. Keynes, long dead, has been fingered as the fall guy by the obviously guilty.

Any analysis whose partial goal is to assign blame, is suspect.

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