Top historian Niall Ferguson warned Friday that the world is sleepwalking into an era of political and economic upheaval akin to the 1970s — only worse.
‘Much worse than the 1970s’: Historian Niall Ferguson has a warning for investors
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Economists are like meteorologists. They’re more wrong than right and nobody holds them accountable. Niall is a well spoken weatherman.
Niall is a guy that can’t get enough of himself.
FYI – Ferguson here is no economist … as much as he likes to pretend to be one. He is just a one man talk show – who likes to toot his own horn as much as possible. He is a “historian” … note that he is not much of one … a revisionist for the British empire (forgetting American got its independence from the BRITS)… but he got kicked out of UK and now he is sing the song for the “US Empire”. In reality it is quite amazing how much Americans love his ideas … while no one worth anything of value would not take him seriously.
@Titus P This sounds very personal. Do you bear some kind of personal grudge? On the economy, the problem is way too much liquidity that central banks created. As for Taiwan, that’s a guessing game. And although China may be experiencing problems, so is the USA, Europe and Asia generally.
@Titus P Brilliantly silly remark. Where to start? Firstly, anyone a liberal disagree with is not by definition ‘ not to be taken seriously’. Ferguson is a highly credentialed historian (Oxford and Harvard) and has branched out into economic history. Secondly, as liberals are only capable of dealing with simple Manichaean dichotomies, they have no understanding of nuance: the British Empire had bad and good aspects – as many former colonies recognise. ‘Revisionist’ as used by you merely means that Ferguson doesn’t subscribe to the whole liberal narrative about empire. Next – he wasn’t ‘kicked out of the UK’. Your final sentence is risible sophomoric nonsense, translatable into ‘he writes things I fervently disagree with, so he is a nonentity’. Don’t you realise how puerile you sound?
@Michael Kolanis , well don’t know him personally but do stand against his imperialistic ideas. American soldiers died in defense of liberty and freedom not for imperialism / suppression of others.
Trump was a pilot with a clowns hat. Biden is a rainbow clown with a pilots hat.
This administration is purposely egging us into war. Biden keeps hoping Republicans will start a civil war with all the attacks on Republicans throughout his short but destructive time as president. The globalists want wars and will not stop until they cause wars. They hate Trump because he wants America to be strong. They want America to fail.
Ferguson is great. However, these are speculative predictions, we should take them seriously but not as Gospel.
Successful people don’t become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life.
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Its all Nancy’s fault Trump told u all don’t vote Democrats they will destroy papa US.
1970’s? The globe is going to have massive food shortages-starvation. Prep for survival. Even in the West.
Two suns, our is setting.
Ferguson was and is a big advocate of assisting Ukraine in bleeding Russia out to the last Ukrainian. Right or wrong what did he and all of us expect?
Keep talking about China, while we are starving , but its China China China, and then some more China. But I’m glad that for the first time someone has admitted to the population crisis we have.
We’re in a mess war that may take years to finish as both sides can invest as much so only this alone will generate a very negative impact during the time, besides with the sanctions, Europe mostly highly dependent on Russia gas will start harder pollutants like coal and the dwindling fossil fuel agenda is paused, they’ll invest alot of money back on fossil’s fuels to generate cheaper energy, or the whole West unite to invest 90% on renewables funds which is impossible with a conflict nearing world war 3, high military expenses and corruption. If there’s a peace agreement its still possible, but that is lacking empathy, Russia the invader has to pay.
Europe will have to bear with high inflation for some time as the energy crisis won’t finish soon so we’re going to get alot poorer as the bills will keep rising much faster than wages
If the climate temperature keeps rising as it is and probably will since we’re causing more emissions than before. Droughts, lack of drinking water, and losses on crops will get common so food stocks would vanish soon and inflation would burn.
When it gets to that point it’ll be like a blame game and the worse will happen
Thetruthcontesthetruthoflifethepresent..
I’m investing in an underground bunker the way things are going.
The 70s inflation had more about coming over the gold standard and resulting dumping of the USD. This inflation was explosion in M2. Milton Friedman is rolling in his grave.
Without a doubt this world’s powers are declining.
I remember bitcoin boy saying how people should buy it
CNBC is paid for garbage network.
The interviewer is so concerned with showing off his knowledge of the obvious that he is far too concerned with his own ego to know that the questions he asks are valid. Thus, he should, ask them, stay the f..k out of the way and let Niall answer them!
good point. interviewer not good at jis job. he needs to quit interupting.
Tell me what the Biden Administration has accomplished besides destroying America and trashing its people???? I’m listening..
The government will stimulus within the next 6-12 months because a real estate crash lowers tax income so much they couldn’t pay the national debt without it. It’s just math, and there is no escape.
It’s funny this guy talks about China’s problems ignoring our utter dependence on them. Even our military equipment depends on rare earth metals from China! CRAZY!! The F35 fighters, for example, use Chinese magnets.
The lasting corner stone of any human society is truth. A relationship with this perfect perpendicular, truth, is the constant each human being shares.
Niall Ferguson is a cia hack posing as a journalist. CNBC is infiltrated….
Solution is to end the FED. They caused this. Central planning DNW. laissez faire does.
Professor Ferguson,
Did you receive my tweet from early this summer?
Sincerely,
R.W.N II
It is gone, we lived through the zenith of our time.The corrupt government will take down this country like what happened to Rome. My condolence for anyone approaching retirement you may have concerns over whether your pension pot will stretch to cover the rising costs of living. Bad energy policy, bad foreign policy, bad regulatory policy , and insane fiscal policy.
64 here and I realize I’ll be working until I can’t, there is no retirement for me. Thanks to the “Central Planners”
never had any to start of with hope it will even the curve to low-income families to the middle class/working class or one class maybe all got the same bones only money stands us apart.
@Craig or maybe, you aren’t too bright??
@Tracy Smith Do you speak English?
I retired two years ago at age 59. Doing all the living I can right now. After age 75 or so I could give a rip.
bullshit. Denial Ferguson keeps warning about double digit inflation every time there is a new bank regulation, while now there is a temporary crisis in oil markets due to the war in Ukraine.
The dude has some statistical training, it shows.
Hahaha…just hit the nail . Delecting a comment does not avoid the truth being spreaded. You guys are just a grain in the sea of digital content
Transfer of wealth usually occur during market crash, I’ve been looking up strategies and apparently both bull and bear market condition provides equal avenue to accrue massive gains, and a news article particularly mentioned a 54 year old that made $280k in 8weeks, how do I learn these strategies, my portfolio has been stagnant for months.
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which I hope to scale to a million before the end of the third quarter.
@pigsbark credits to Jessica Meador Jones, one of the best portfolio manager;s out there. she;s well known, you should look her up.
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This sounds like a spam account
Buy TSLA stock. They are going full speed disrupting many of the biggest markets, (transportation, energy, labour market ++) and should be the biggest company within 2-3 years
They have on average increased their revenue by 75% last 12 years, and will AT LEAST 10x next 10 years.
(Then do another 10x before 2040).
China is not the one provoking the world. It is the US that is doing that, they realize they are failing to deliver their rising living standards and those are in decline, along with the life expectancy for Americans, so they have to start WW3 or else it will fall apart.
Great interview. More of Niall Ferguson please
Great and very interesting. I Agree
U.S. stock index futures were lower on Thursday as news of another COVID lockdown in China revived concerns about a slowing global economy. My primary concern is how to grow my reserve of $300k which has been sitting duck since forever with zero to no gains, sure I know the risks of short term gains are much greater but if well managed one’d make a killing, am I wrong?
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You do NOT need an ‘investment advisor’, nobody cares more about your money than you, the others, with whatever job title they give themselves, will guarantee only one thing – that you pay them. I had capital with experts, they lost half of it and charged me for doing so I took it out and multiplied it one hundred fold. DIY.
@wordi mobi been doing it myself for 14 years, financial advisors are terrible advice for go getters that actually want to do it themselves and research
Historian?
fighters, for example, use Chinese magnets.
the seventies were wonderful, a big change in attitudes with the objective of freedom in many ways I hope this one turns out as well 🙂 Tony
which companies did u invest in th 70s?
Love this guy. He has EXACTLY my views. And Powell is responsible for the inflation.
Enoch Powell?!
Powell is a functionary of the Uniparty. The uniparty is to blame, both R’s and D’s.
Their vaccines don’t work against the virus they engineered! LOVE IT.
Nuthin new to see here folks all this interview is basically saying is that life’s full of uncertainties lol
6 million died WITH Covid, not FROM Covid.
insane fiscal policy.
Everybody is talking about higher interest rates. Interest rates are way too low… Normal is 7 percent, not 2 percent! High is 16 percent
I’ve read at least seven of Niall Ferguson’s books and enjoyed them immensely…but there ain’t no such thing as a “top historian”. Actually, I just glanced over at one of the bookcases and counted ten Ferguson books…but who’s counting. If we listen to the likes of Ferguson or Zeihan or Friedman we run the risk of unconsciously steering ourselves into a kind of self fulfilling prophecy…a form of confirmation bias. We end up where we expected we would because we believed we would (akin to spilling tea from a cup and saucer we watch carefully so we won’t spill it).
He’s the guy that tells you what happens after it happens. He doesn’t know what’s going to happen anymore more the anyone else.
He’s in a better position to make predictions than most, as a historian. Ignore history at your own peril.
You study the past to look into the future as history can rhyme and is is cyclical
I think a historical perspective is not bad since modern economists and central bankers thought they had reinvented the wheel through modern monetary theory and infinite refinancing of unsustainable welfare systems and decaying demographics through monetary experiments. Now basic economic foundations have brought them back to earth. Of course he can’t predict anything because it is incredibly difficult to predict economic matters, reason why most economic estimates are wrong more often than not, but looking at a problem through a historical perspective might be something central bankers should try. He mentioned Larry Summers quite a few times and I would argue that both Summers and El Erian were one of the few prominent warning voices last year.
EGG HEADS.
He’s a historian. What do you expect? 🙂
I agree why is USA poking China over Taiwan? Is it that strategically important?
Do people really fall for all the investment scams all over the comment section here?
Amazes me how these people continue to point to the scamdemic like it’s real. Take a look at the life insurance payouts during 2020 and you find payouts were LESS than normal. How could this be when everyone was dyeing from the scamdemic?!? So either governments were lying or the Insurance companies were lying. Also when the Trump Quackccines rolled out there was a MASSIVE life insurance payout all over the world from then on. Give THAT some thought!
The USA and Europe should open their borders to immigrants. This will solve their demographic and labour shortage problems. There are herds of Latinos and Africans desperate to rush in and help you to create an economic boom. There, problem solved!
We are already in the big crash, Inflation is a
catastrophe. This CPI report is a colossal failure. To
bring the housing market to a halt, the FED will have
to pull all the stops. The unfortunate issue is that
other markets are being decimated.If you want to
stay green, you have to rely on a lot of
diversification. Currently up 14% and being careful.
Still a better deal than leaving it in a savings or
checking account yielding 0-1 percent interest.
People believe their currency has the
worth it does because they have no
other option. Even in a hyperinflationary
environment, individuals must continue to use
their hyperinflationary currency since they
likely have minimal access to other currencies
or gold/silver coins.
@Rose Allen If you are not in the financial market space
right now, you are making a huge mistake.
understand that it could be due to
ignorance, but if you want to make your money
work for you, prevent inflation from eroding
your savings, build generational wealth, and
cultivate good habits and financial knowledge,
you must be in the market.
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The real story is about who controls Taiwan Semiconductor Manufacturing Company, Limited (TSMC; also called Taiwan Semiconductor) .. they make the chips that both the CCP and USA and everyone else desperately want and need !!!
We need to move away from the US Currency and buy Silver.
This was all planned and Wars are created by the US and West too. They are robbing us all
It’s interesting that Taiwan is currently important for its chip manufacturing so that neither the US nor China can tolerate the other party having full control of it. Although it appears that China is moving towards independence on that front.
Anyway, as far as I know of it, the US military doesn’t think that Taiwan can be defended. So provoking the Chinese on that subject is just dumb.
There’s no real good in treating China as an enemy anyway. Trying to hold onto power by keeping others down is a dangerous long term strategy… Always better to invest more in self improvement. Plus, assuming that the US did end up weaker than China some day, enmity would hardly have been a good thing to set up before that kind of future.
As it is, we really need to work together internationally, to get the global economy moving back onto the right track… Preferably think less in terms of “countries” and more in terms of “what benefits people and humanity”.
Take the Ukraine war for example: Is there a commitment to the welfare of the Ukrainian people, or is it about “defeating Russia”? The way it’s going, Ukraine could end up another Afghanistan… Because we don’t truly think about people when determing our goals.
Sanctions and giving Ukraine weapons aren’t really a way to fasttrack peace and stability in that region. The sanctions may not even really be hurting Russia all that much vs the harm they’re doing elsewhere (strange as that is)
Unlike Afghanistan, I think the people in Ukraine are benefiting hugely from US help. I suspect most Ukrainians would choose the path of fighting back and pushing Russia out.
Peace in the region is not an option on the table, not in the short term. The atrocities committed by Russia so far make that clear.
I doesn’t take a genius to tell you what happened in the past.
about those that do.
i think we all know this
Professor Ferguson lost all if his credibility in my eyes after he published his book The Square and the Tower. It was an obvious pay to write piece supporting the likes of the WEF and the DAVOS group. Right from the opening chapter, whose narrative has been totally destroyed by the truth and facts being exposed, you can see that its a propoganda piece
There is massively more debt than ever, everywhere. That’s NEVER good.
We didn’t “get a war”, we created a war. Now that we have it, we’re (the governments of the collective West) using it as cover for the unfolding economic catastrophe manufactured by our central banks via their insane monetary policies (i.e. suppressed interest rates and money printing). Wake-up people, you’re being led down the garden path!
Lake Como.
Why the obsession with all forms of growth.Its so boring, the only tool of economists is this automaton style growth obsession.Its just so unimaginative and boring
White people need to have more children!
I can’t see anything but a very serious downturn or economic collapse. It’s a perfect storm of factors. High inflation, low growth, high debt levels and an energy crisis! A prolonged downturn/depression will likely lead to more war.
All countries apart from middle East dictators are in big trouble and no tools left to fix this unless the interest rate goes up above inflation. – this shi t ain’t going away soon
For that matter you are a media fueled, financed lying fear monger. We already know that it’s all lies and FUD.
So the impact of pandemic is not negligible
What is this? Only blind Freddie couldn’t see this,how about talking about how we have the shittiest leaders ever in charge combined with outside influencers like green WEF psychos looking to kill off normal society,how about being useful and telling us who is running this death cult so we can remove them!
The worlds best economic business historian……
Where was this shot? I really can’t imagine a place like this in the US.
Lake Como in Italy
To bad for the greedy
To bad for the poor
The elite got game
To bad you fallow and support them
Do not do on to them
as they do on to you
The con game
Are you in on it
How about keeping it simple and telling the truth as it is.
ORDER OUT OF CHAOS & DESTRUCTION
EVERYTHING IS BY DESIGN AND IS ABOUT IMPOING THE NW WOLD ORDER AND WORLD EVOOMIC FORUM THE GREAT RESET.
IN EFFECT DEPOPULATION, CENTRALISATION OF POWER AND TRANSUMANISM.
Nice looking suit.
We see what is happening in Hong Kong. Can we afford to have Taiwan go the same way?
A recession? This is ether a dumb guy or just Nieve. We are in a trapped, manipulative financial system intentionally being destroyed!
The US supports Taiwan because its foreign policy is determined by its arms industry lobbyists based in Washington. Vietnam, Iraq, Afghanistan, Ukraine. etc. Their fundamental objective is instability, tension and localised war. To be fair they have been very successful.
What does this wing nut know? He’s an economic historian, not economist.
His analog is nonsense, as he compared to the 1970’s.
Talk to people that put their own money up to trade. This fellow has an agenda.
Nice suit, nice view, he has a net worth of 500K.
Why would you listen to a word this guy has to say about investing??
FFS I have more in tangible gold and silver than this guy, not much but more.
Worse than Carter? This is bad.
detente between conserv. and libtards?
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Sorry, but ARE WE GOING TO HAVE A RECESSION OR WHEN?
The egg-heads just talk talk talk and you never know what would be the conclusion?!
China like a thief will STEAL or INVADE when he thinks there is something to gain.
It is stupid to speculate what China would or would not do. But, rather, if China does something stupid, just NUKE it.
What happened to the signed Sina British Declaration on Hong Kong. The document is a recognized international treaty. China simply ignores this when 6 million Hong Kongers are treated like trash. Anyone who believes in China should eat SHIT for meals.
Still won’t admit all the reckless government spending and money printing during lockdowns is what caused all this inflation
Supply and demand causes price increases, not inflation expectation. Second rate think on CNBC.
Biden is probably wishing they hadn’t destroyed Venezuelan oil production right about now.
He thinks they’re heading for a recession in Europe. I wonder how he figured that one out. lol
The 1970’s was a s…t time. Two gruesome recessions (1971-73 & 1977-78), 25,000 conscientious objectors forced to work for no pay as “volunteers” because hospitals refused to hire them, the gasoline shortage crisis of 1977-1978 and the freezing of wage buying-power entering its 10th year (1968-1978). And U.S. employers were gearing up to automate and outsource jobs leading to a 50-year long “Long, Slow Depression.”
The law of unintended consequences is the only real law of history………Niall Ferguson
This guy is very intelligent yet incredibly biased. Sadly
WHERE IS THE LOCATION?
In 2009 Warren Buffet was saying that we will have inflation worse than 1970’s.He also was saying about US bankruptcy
If you want to talk about how poor everyone’s going to be, don’t do it at a fancy resort in a fancy suit.
All the talking has always been unnecessary. Printing = Inflation. End of story. A child knows this.
“The Debt is higher than the 1970’s” 😁 Get real Niall !
Who gets the extra money when the Fed increases interest rates?
This character Ferguson Always Getting Caught out with HIS PERPETUAL LIES ?!? REAL WEIRDO NOT AN AUTHENTIC FERGUSON !!!
Is that Italy on the background?
Inflation is government printing money to survive, that is why it is happening.