Will Grigg?s Liberty Minute

July 15, 2010

Someday soon the American Empire will die from accumulated debt and be buried in a foreign grave.

This is the urgent prediction of Harvard historian Niall Ferguson, an English scholar who has written extensively about the American imperium.

The collapse may come ?within the next two years,? Ferguson declared in his keynote address to the 2010 Aspen Ideas Festival. In fiscal terms, he continued, Washington ?is very near the edge of chaos. And we?ve seen already in Greece what happens when the bond market loses faith in your fiscal policy.?

Both the Soviet and Roman empires experienced a sudden collapse when the cost of servicing debt exceeded the government?s military budget. ?That has not been the case I think at any point in U.S. history,? Ferguson pointed out. ?It will be the case in the next five years.?

As Ferguson told his audience, Americans are the ?Redcoats? now ? and national bankruptcy will be the price of playing that un-American role.

Let us take back the liberty wherewith Christ has made us free.