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Nassim Taleb: We Still Have The Same Credit Disease
Mish's Global Economic Trend Analysis —
Reflation or not, end of recession or not, the global economic fundamentals have not changed one bit thanks to the misguided actions of central bankers. Nassim Taleb, author of the Black Swan says: ‘We still have the same disease' ...
Taleb: We're Still a Sick Society. More Bellydancing Needed.
Paul Kedrosky's Infectious Greed —
... ... My advice is that instead of investing in medium-risk securities, you
should put most of your money in very low-risk securities, and a little
bit in high-risk securities. Then you might get a good black swan.
Also, it's good to have more than one profession, in case your own
profession goes out of style. A Wall Street trader who's also a belly
dancer will do a lot better than a trader who winds up driving a taxi.
More here.
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Taleb:‘We still have the same disease'
Short-Term Trading —
Taleb was interviewed by The Globe and Mail LINK Some parts of the interview and my comments: Margaret Wente: Happy days are here again. The central bankers say the recession is over. The markets are buoyant. Can we relax? Nassim Taleb: Not at all. Central bankers have no clue. In the first place, the financial crisis was not a black swan. It was perfectly predictable. Not only the crisis is not over, it is an ethically arguable issue the kind of "polishing" news and information ...
Nassim Nicholas Taleb: not as powerful in prognosting the crisis as people think
Eidelblog —
My comments over at Three Sources about an interview with him: All right, I finally read the interview. His powers of prediction are...overrated. He's correct about economists' and financiers' inability to predict the future, correct about debt, wrong about Iceland, incorrect about Canadian self-sufficiency, wrong about "developing a system," very wrong about the nature of human information, and utterly wrong about actively preventing "too big to fail." "For the past decade, he's been warning that the global economy has become far more vulnerable to ...
Guest Post: Capitalism, Socialism or Fascism?
naked capitalism —
... This limits the ability of banks to lend, households to spend and companies to invest…
The releveraging of the public sector through its build-up of large fiscal deficits risks crowding out a recovery in private sector spending.
Roubini has previously written:
We’re essentially continuing a system where profits are privatized and…losses socialized.
Nassim Nicholas Taleb says the same thing:
After finishing The Black Swan, I realized there was a cancer. The ...
