What happens after governments go trillions into debt to rescue their banking systems? The governments themselves collapse. It’s what Niall Ferguson has been warning about. It’s the lesson that Roubini sees in Dubai.
And now Morgan Stanley, in a new report about the upcoming slog, reminds us of some history.
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See Also:
- Niall Ferguson: Even Krugman Admits The Deficit Is Unsustainable
- Niall Ferguson: Roubini Is Okay, But He’s Not As Good As Me
- Dubai Stock Exchange Plummets 7%, As Government Confirms It Won’t Pick Up The Tab