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'We're in the Middle of a Crash': Black Swan
CNBC ^
| 7/2/2009
| Staff
Posted on 07/02/2009 6:21:07 AM PDT by Red in Blue PA
"We're in the middle of a crash," Taleb said. "So if I'm going to forecast something, it is that it's going to get worse, not better."
The government needs to deleverage debt and not try stimulus packages that will inflate assets, he said.
"What makes me very pessimistic in not seeing any leadership or awareness on parts of government on what has to be done, which is deleverage $40-to-$70 trillion," Taleb said.
"The monkey on our back is debt," he added.
(Excerpt) Read more at cnbc.com ...
TOPICS: News/Current Events
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To: Red in Blue PA
2
posted on
07/02/2009 6:23:51 AM PDT
by
kellynla
(Freedom of speech makes it easier to spot the idiots! Semper Fi!)
To: Red in Blue PA
Well cry us a river. As if we didn’t know this. Everyone except Democrats in DC and Sacramento know this.
3
posted on
07/02/2009 6:24:30 AM PDT
by
GeronL
(http://libertyfic.proboards.com <----go there now,----> tyrannysentinel.blogspot.com)
To: Red in Blue PA
“No leadership or awareness in parts of government”
codeword: obama
thanks again to the 62 million idiots who voted for hype and change
4
posted on
07/02/2009 6:24:30 AM PDT
by
silverleaf
("Never forget that everything Hitler did in Germany was legal ( Martin Luther King))
To: Red in Blue PA
But, Michael Jackson died.....
5
posted on
07/02/2009 6:24:45 AM PDT
by
netmilsmom
(Psalm 109:8 - Let his days be few; and let another take his office)
To: kellynla
Exactly. Tell us something we don’t know.
6
posted on
07/02/2009 6:26:55 AM PDT
by
freekitty
(Give me back my conservative vote.)
To: netmilsmom
That’s so yesterday.....
One of the Jonas brothers got engaged!
To: NY.SS-Bar9
No kidding, which one? Gonna finally get that damned ring off his finger?
8
posted on
07/02/2009 6:28:22 AM PDT
by
Vermont Lt
(Ein Volk, Ein Riech, Ein Ein.)
To: NY.SS-Bar9
9
posted on
07/02/2009 6:28:33 AM PDT
by
netmilsmom
(Psalm 109:8 - Let his days be few; and let another take his office)
To: Red in Blue PA
Obamanomics.
10
posted on
07/02/2009 6:28:58 AM PDT
by
Oldeconomybuyer
(The problem with socialism is that you eventually run out of other people's money.)
To: Red in Blue PA
"The monkey on our back is debt," he added.No, the monkey on your back is Obama..
sw
11
posted on
07/02/2009 6:29:07 AM PDT
by
spectre
(Spectre's wife ) (Who will lead us?)
To: Red in Blue PA
"The monkey on our back is debt," he added. THAT'S RACIST!
12
posted on
07/02/2009 6:29:23 AM PDT
by
an amused spectator
(The money vampires fear garlands of lead & brass)
To: Red in Blue PA
‘We’re in the Middle of a Crash’:
According to MSM, those to blame:
1) GW Bush
2) unfair distribution of wealth
3) Capitalism
4) Free market
5) Not enough Government Regulation
6) Ronald Reagan and ‘trickle down’
7) greedy predatory tactics by banks
8) Taxes not HIGH enough
9) global warming
To: Red in Blue PA
>> “The monkey on our back is debt,”
Actually, the monkey on our back is Obama. And Geithner. And Bernanke. Oh, great, we have THREE monkeys on our backs!
And the monkey on THEIR backs is debt.
14
posted on
07/02/2009 6:31:25 AM PDT
by
Nervous Tick
(Stop dissing drunken sailors! At least they spend their OWN money.)
To: NY.SS-Bar9
We were figuring out what would be the Epic Distraction for the government if it needed to snuff a celebrity or two to clean the news cycle.
Brad Pitt and Angelina Jolie get run over by a Hummer driven by a right-wing zealot...
15
posted on
07/02/2009 6:31:34 AM PDT
by
an amused spectator
(The money vampires fear garlands of lead & brass)
To: Vermont Lt
Christians respect the ring.
I know I do.
16
posted on
07/02/2009 6:32:17 AM PDT
by
netmilsmom
(Psalm 109:8 - Let his days be few; and let another take his office)
To: spectre
HA! See #14. Great minds think alike. I threw in two white monkeys so I wouldn’t be suspended for racism again.
FRegards.
17
posted on
07/02/2009 6:33:17 AM PDT
by
Nervous Tick
(Stop dissing drunken sailors! At least they spend their OWN money.)
To: freekitty
Yes, we know. But there's large numbers of people who clearly don't. You cannot fix a debt problem with more debt. Instead of dealing with the consequences of a massive credit bubble bursting the morons in Washington are trying to re-inflate it. It isn't going to happen. Meanwhile we are expanding the damage out for generations to come. Unbelievable...
18
posted on
07/02/2009 6:35:19 AM PDT
by
DB
To: Red in Blue PA
Virtually all of Wall Street still insists, in a manner reminiscent of Kevin Bacon's role in
Animal House: "Remain calm! All is well!". And all the while, chaos builds and will eventually overwhelm those who refuse to accept what is happening.
Unprecedented levels of public debt, regulatory uncertainty, open hostility to markets, proposed government takeovers of critical business sectors, looming tax increases of gargantuan proportions - people: this is not a formula for economic recovery. It is a formula instead for financial disaster, social dislocation, and much worse.
19
posted on
07/02/2009 6:36:12 AM PDT
by
andy58-in-nh
(You have enemies? Good. That means you've stood up for something, sometime in your life.)
To: Le Chien Rouge
Pretty good list, might add bad choices in healthcare.
20
posted on
07/02/2009 6:36:43 AM PDT
by
Need4Truth
(Washington DC is a foreign entity.)
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