1 thought on “Niall Ferguson on debt”

  1. A brilliant, but scary speech on global economy, But as far as Ireland is concerned, it doesn’t have a defence budget problem, as it never had a war, nor hurricane, -20 or excessive heat, not to mention volcano’s or earthquakes. It has pirates for statesmen, who ran the country as one big ponzi sham. They employed 20% of the working population in state jobs to keep themselves in office, only now that 20% equates to 36% and they turned up the heat on an empty pot. Part of their miscalculation is that the 36% public service pay packet now actually accounts for 50% of income tax receipts. No wonder their still trying to make sense of the crispy bits at the bottom.
    I guess it’s like the suggestion of building ones way out of a property bubble, pay themselves more, that way there will be more tax collected?

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