Harvard Prof Says U.S. Debt Crisis Coming

The Harvard economist's name is Niall Ferguson. I read his book last year and I remember it being very logical, plus he does a good job of staying away from shrill tones and hype....so I liked him.

A few days ago, Niall was on Yahoo Finance being interviewed....and he hasn't changed his logical conclusion that the USA is in a heap of trouble because of our massive debt.

Ignore the uber-low yields on U.S. government debt. It's only a matter of time before markets lose confidence in the U.S. government argues Harvard professor Niall Ferguson.

Right now Washington is benefiting from global worries, such as those being seen in Europe, but that won't last for long. If you want to look for a pivotal moment: Watch for when debt interest payments begin to eclipse defense payments. In fact, this will happen inevitably, even if there's no imminent spike in Treasury yields. It's inevitable, until and unless, lawmakers show the political will to put the country on a "credible path" of fiscal responsibility, Ferguson says.

You can watch the short video here; http://finance.yahoo.com/tech-ticker/niall-ferguson-a-u.s.-debt-crisis-is-on-its-way-518725.html?tickers=tlt,tbt,%5Edji,%5Egspc,spy,%5Eftse

Did you catch that, "lose confidence" part?

Anyone who has heard me speak has heard me talk about the fact that the U.S. money system is only backed by the "full faith and confidence of the U.S. Government." So what happens if confidence in the U.S. Government vanishes?

Again, we don't see America ANYWHERE in Biblical prophecy? So what happens to her? Financial collapse, solar storms break the power grid, rapture of 30,000,000 folks, huge earthquake overloads our infrastructure, nuclear terrorism, etc...

Only confidence in Jesus Christ will see us through the coming storm.

Hat tip to Mike S.