`Black Swan' Author Nassim Taleb Says U.S. `Not Aware' of Deficit Dangers
By - Sep 24, 2010 6:38 PM GMT-0300
Nassim Nicholas Taleb, author of “The Black Swan,” said he’s concerned about prospects for the U.S. economy because government debt in the country is higher than in other industrialized countries.
“I am extremely bearish on the U.S.,” Taleb said in a Canadian television interview from Montreal today. “We have an administration that, unlike the European administrations, is not aware of the risks of mounting deficits, of the addiction to public deficits and to big government.”
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Comment: Nassim misses the point. The real problem is that we're already beyond the point of no return. Therefore it makes no sense anymore to hit the brakes.
“I am extremely bearish on the U.S.,” Taleb said in a Canadian television interview from Montreal today. “We have an administration that, unlike the European administrations, is not aware of the risks of mounting deficits, of the addiction to public deficits and to big government.”
Full text
Comment: Nassim misses the point. The real problem is that we're already beyond the point of no return. Therefore it makes no sense anymore to hit the brakes.
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