We had a lecture this afternoon by Niall Ferguson. Niall is a professor both at Harvard University and Harvard Business School. At Harvard University, he teaches History. He is also a Senior Research Fellow at Oxford University and a Senior Fellow at Stanford University. Accomplished man? To say the least! – he was very impressive. I have a video that I will put at some other time – I am having problems with the orientation of the video. The video talks about the similarities between the British Empire and the US. The war brought down the British Empire but the financial crisis will bring down the US. However, it is important to note the similarities between the size and control the two countries have/had.
He started his presentation with his view – ‘Chiamerica is headed for a divorce!’ This was an article he published in the Wall Street Journal on Feb 7, 2007 much before the financial crisis came to light.
In his view, China will divorce from America and will have to create internal consumption and stop supporting the vicious cycle of investing back in the US. At one time, 75% of bonds issued by the US government were being bought by China – that cannot continue anymore. It is not going to be easy for China but they will have to do it and it will be better in the long run.
Here is Naill presenting in class – very passionate, animated and engaging speaker.
Outside of class, we have come to a conclusion that the curve of the highway outside our living room window is severely accident prone. Today marked the 8th accident we have witnessed in the last 6 weeks. And I am sure there have been many while we have been in class.
Today there were two – one around 8 AM – a lady driving her 2 kids to school and one in the afternoon – an old lady who hit the barrier and spin out. She clearly was in a state of shock.
I was about to call 911 but someone beat me to the punch.
Here is the picture of the crash. Notice the road is slick with the rain. We are going to suggest to Cambridge Police to post some signs because we are convinced that this is a hazardous curve!