“Black Swan” Author Nassim Taleb to US: End Stimulus, Deleverage Debt or Suffer a Crash
July 3, 2009
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2 Responses to ““Black Swan” Author Nassim Taleb to US: End Stimulus, Deleverage Debt or Suffer a Crash”
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Nassim Taleb is the only financial personality with the brains to understand the debt-money equation, there is an IMPOSSIBLE amount of debt to be paid, but has yet to achieve an identity with the solution.
His banks-negotiate-new-equity proposal is a shot in the dark.
Will not work, Nassim. And, not necessary.
He is absolutely correct that we need more equity in the economy, but he has not yet understood that it is the monetary system that needs that equity, and not banks or financial services marketers.
He is also correct that traditional economists of ALL political stripe have been denied the tool of monetary system reform, basically because this is NOT part of the curriculum at ANY of the country’s business schools.
Were it so, there would be a certain loss of the endowment.
The Chicago Plan for Monetary Reform.
Look it up, Nassim, and you are on your way.