Risk, black swans and QE2

Author Nassim Taleb, of Fooled by Randomness and more recently The Black Swan, dubbed as “the guy you can’t afford not to listen to” talks about the current move by the US Federal Reserve to buy bonds, or essentially print money to jump start the economy, knows as Quantitative Easing or QE2.

http://www.bloomberg.com/video/64477298/

Key Take-away: Bernake was driving the plane that crashed the economy, so why should someone who got the US (and by extension a lot of others) into such a mess be the one to get them out? Just as the Greeks, who have been spending way more than they earn are trying to cut back drastically, so too should North America and anything else is just putting off the inevitable.

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  1. February 3, 2011

    […] Elite would like to keep everything as is – for now at least. Never underestimate a Black Swan event where something totally unpredictable changes everything, like 9/11, the rise of the Internet, […]