kent nickell
Well-known member
We haven't heard from Black Swan author Nassim Taleb lately. Here is a recent 12 minute video interview... Likes new UK prime minister David Cameron and thinks he understands the current economic realities. Thinks the stock market should be used for entertainment rather than serious long term investment. (ie look for possible speculative trades but realize the market is 'rigged' in favor of big players) This is highlighted in his take on the 1000 point termporary/flash crash in that he thinks the market has serious structural flaws. Favors investing in real assets such as agricultural land and precious metals as hedges against inflation. Like others he is worried about the transformation of private debt to public debt and how this is going to cause more 'Greek like' sovereign debt crises even in the US. Worries that if this debt cannot find new buyers easily this could lead to perceptions of hyperinflation and thus punishingly high interest rates. Not confident in the Geitner, Summers Bernanke team that were there when we went into this crisis and are still there. Important to realize that 'Black Swans' can be relative depending on the viewer, ie Thanksgiving is a Black Swan for the turkey (who has been nicely fed for the last several years) but not for the butcher. Actually sees increasing fragility in our banking system since the crisis began. (thinks that OMB , office of management and budget needs to be 'investigated' as to their intellectual reasoning in coming up with budget projections )
Nassim Taleb on What Should Really Worry Us About the 'Flash Crash'
http://seekingalpha.com/article/205...out-the-flash-crash?source=article_sb_popular
Nassim Taleb on What Should Really Worry Us About the 'Flash Crash'
http://seekingalpha.com/article/205...out-the-flash-crash?source=article_sb_popular
