Ferguson: Neo Cons Big Winners in Arab Spring

Always fascinating is Harvard historian/economic commentator Niall Ferguson - here talking about the "Arab Spring" and events in Libya.

The people who should be celebrating are the neoconservatives who were rubbished not least by President Obama for believing that a democratic wave could sweep the Middle East. And the great irony is that precisely that has happened, and it's happened in such a way as to force President Obama to do exactly what George Bush did, which is to invade a country, well, use military force in a country, to overthow a dictator.

Ferguson goes on to say that America's world leadership is being compromised by debt.

The days of American imperial power, I think, lie in the past. And it will be very hard indeed for any president, present or future, to turn that around. It's really hard to run an empire when you're financing yourself by borrowing from your principle strategic rival, the People's Republic of China.