Excel­lent inter­view with Niall Fer­gu­son on Yahoo Tech Ticker this week.

Niall Fer­gu­son, Part 1:

"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?"

Niall Fer­gu­son, Part 2

Fer­gu­son dis­misses the dol­lar loy­al­ists, cit­ing the British pound – the last inter­na­tional reserve cur­rency — as his exam­ple. "These things don't last for­ever" but don't expect it to hap­pen overnight. "It's a long multi-decade process," he states...

Niall Fer­gu­son, Part 3

"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?"

...

"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.

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