"Within our lifetimes the United States will cease to be the world’s largest economy"

http://www.bloomberg.com/apps/news?pid=20601110&sid=aaCFRyAA0G98

Rogoff, Ferguson Say Global Financial Crisis Is Not Yet Over

By Vivien Lou Chen and Thomas R. Keene

Oct. 28 (Bloomberg) -- The global financial crisis isn’t over, said Harvard University professors Kenneth Rogoff and Niall Ferguson, who challenged assertions by Group of 20 leaders at last month’s meeting in Pittsburgh.

“The G-20 is right that it’s over for all the banks they guaranteed,” Rogoff, former chief economist at the International Monetary Fund, said today in an interview with Bloomberg Radio. As a consequence of bailouts and stimulus measures, “the financial crisis may eventually morph into a government-debt crisis.”

G-20 leaders last month adopted a framework for more durable economic growth as they sought to prevent a replay of the worst crisis since the Great Depression. They pledged to strengthen international financial regulations, rein in banker pay and keep stimulus measures in place until growth takes hold.

“Crises last longer than most people think,” said Ferguson, a Harvard University professor and author of “The Ascent of Money: A Financial History of the World.

“Most crises, major financial crises worthy of the name depression or indeed recession, last significantly longer than a day and they can be measured more in the thousands of days. I think it would be very unwise to say it’s over.”

Ferguson added that “within our lifetimes the United States will cease to be the world’s largest economy.”

I don't expect the powers that be to allow that to happen without a world class meltdown.

Cause and effect.

Thanks to our corporate traitors.

and prefer to hear, the US is great. if its not great its clearly someone else's fault

(Just practicing! :7)

Oh God... Not my favorite thing to be a Kassandra, :(

from taking part in being the military and economic superpower of the world.