With over 143,000 views, Harvard historian Niall Ferguson’s recent video, on empires on the edge of chaos, has at least a lot of social proof going for it that it’s worth a gander. He gave his lecture to the Centre for Independent Studies, a public policy think tank within Australasia, and addresses questions such as: What if history isn’t cyclical and slow moving? And, what if collapse doesn’t amicably settle in over centuries, but instead comes quickly, or overnight?
With these questions in mind, about the true nature of complex systems, he considers implications for the United States. He portrays the US as a complex system, which appears to be stable, or in equilibrium, but is constantly evolving and mutating. Just a small trigger can lurch its seemingly benign system into an abrupt collapse… at a scale that’s impossible to anticipate.
Here are a few of his thoughts, paraphrased:
Just the introduction is found below, while what are among the most intriguing sections can be found here:
Chapter 4: Complexity Theory
Chapter 7: Failure of Perception
Chapter 8: Debt Payment Overtaking Defense Spending
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let?s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
I saw the entire video. Sadly, everyone marches on as things will miraculously get better…as it always has (perception).
The clock is ticking down to April 15th. TaxBot founder, Sandy Botkin, outlines the five big tax changes for 2015 you need know before you file...
Look, we're not contrarian just for the sake of being contrarian. Only idiots are. And yes, the market will eventually drop. But the charts will tell us when it's time to sell. And right now, they're screaming "BUY". There's simply no other way to put it.
The trouble with money printing, explains David Stockman, is that it's responsible for Tesla. Armed with earnings figures, he shreds the company’s visage to pieces...
This year, we expect China to reveal just how much gold it owns. Today, our friend, Frank Holmes, gives his insight on how China could buy even more gold in the near future. And we’ve got every reason to believe it could upset the gold markets any day now, with great results for gold investors…
Where can you reasonably expect to make 50% in the next six months… and in the oil-patch, no less? The best way to play this short-term opportunity is with a handful of well-positioned refiners. Jody Chudley tells all...
Oil isn't magically jumping to $100 anytime soon. As I said, it could fluctuate around $50 for the foreseeable future. That's great news for businesses using a lot of fuel. Operating costs are way down, which means higher profits. And higher stock prices.