Video: Ferguson and Faber – Sovereign Debt Crisis Will Spread World-Wide, U.S. Debt Is Unsafe

(WashingtonsBlog) – In a must-read essay, Niall Ferguson slams the prevailing Keynesian consensus, and says that the sovereign debt crisis in Greece will spread to America:

What we in the western world are about to learn is that there is no such thing as a Keynesian free lunch…

US government debt is a safe haven the way pearl harbor was a safe haven in 1941.

And in a must-watch interview, Marc Faber says that the US, Europe and the entire developed world will default on their debt:
Watch Video at Source

See Also:

U.S. Bond Auctions Are Starting to Fail

Both long and short U.S. bond auctions are starting to fail. See this, this, this and this.

Tyler Durden concludes:

China is finally coming through on its Bond boycott promises.

For background, see this.

Fall of the Dollar on G-20 Finance Ministers Agenda

(BobChapman) – The G-20 finance ministers meet in Scotland on November 6th and 7th, and they will all be bleating about the fall in the dollar. France started this week, and the others will follow. Their currencies are rising in value and they do not like it.

Is a Weak Dollar a Strong Sign? Not So Fast!

(C4L) – Readers of George Orwell’s 1984 might recall Big Brother’s claims that “war is peace” or “freedom is slavery.” Orwell was writing a novel, but some of the commentary these days makes me think that elite economists have taken residence in Oceania’s “Ministry of Truth.”

2 Nobel Economists Confirm that Credit is NOT Created Out of Excess Reserves

We’ve all been taught that banks first build up deposits, and then extend credit and loan out their excess reserves.
But critics of the current banking system claim that this is not true, and that the order is actually reversed.
Sounds crazy, right?

Video: You Can’t Solve an Existing Bubble by Creating a New One! – Ron Paul

(MSNBC) – Congressman Paul discusses the failures of Keynesian economics, the true cause of the financial crisis, and the need to end the Fed

Brookings “Experts” Admit Stimulus a Bust

President Obama has now been in office for over six months and despite his signature $787 billion stimulus, unemployment remains above 9 percent.

Marc Faber Says America Will Launch More Wars to Distract from Bad Economy

The claim that America would launch more wars to the help the economy is outrageous, right?

MSM: Fiscal ruin of the Western world beckons

(Telegraph) – For a glimpse of what awaits Britain, Europe, and America as budget deficits spiral to war-time levels, look at what is happening to the Irish welfare state.

Video: Peter Schiff vs. Keynesian Economist

Peter Schiff talks about the markets and takes on the Keynesian Harvard professor and “economist” Greg Mankiw, who wrote a crazy op-ed for the New York Times. This is the April 20, 2009 edition of The Schiff Report.

Why Obama’s Stimulus Plan Will Fail… And A Better Alternative

Keynesian and Monetarist economic central planning always comes to a nasty end, as shown by the Austrian School’s Henry Hazlitt, F.A. Hayek, Ludwig von Mises, Leonard Read and Ron Paul.