Financial historian Niall Ferguson knows humanity’s long trail of boom and bust cycles. But he is hardly buried in the past.
In the long run-up to today’s crisis, Ferguson was warning loud and clear that we were headed for trouble. He called it early, and he called it right.
Now, Ferguson is sizing up the mess we’re in. Bottom line guess, he says: we’re headed for ten percent unemployment and five-plus years of hard times.
On the other side, the world could look quite different. But the U.S., he says, still has some good cards to play. Saving graces.
This hour, On Point: Niall Ferguson, and the big view of the mess we’re in.