- Prison Planet.com - http://www.prisonplanet.com -

‘Black Swan’ Author Sees Trouble Exceeding 1930s

Posted By admin On February 25, 2009 @ 4:46 am In U.S. News | Comments Disabled

NY Times [1]
Wednesday, Feb 25, 2009

The author of “The Black Swan,” Nassim Nicholas Taleb, predicts that the global financial crisis will be harder to end than the Great Depression and it may force the United States government to nationalize some banks.

The world has a much more complex financial system than in the 1930s, Mr. Taleb told Bloomberg Television, and that makes the current problems worse. Bonuses paid on Wall Street encouraged risk-taking with no regard for losses, he added.

Rare and unforeseen events are known as “black swans,” after Mr. Taleb’s 2007 book, “The Black Swan: The Impact of the Highly Improbable.” Mr. Taleb said the current financial crisis isn’t one.

Full article here [1]

‘Black Swan’ Author Sees Trouble Exceeding 1930s 335x205 graph128c aj [2]


Article printed from Prison Planet.com: http://www.prisonplanet.com

URL to article: http://www.prisonplanet.com/%e2%80%98black-swan%e2%80%99-author-sees-trouble-exceeding-1930s.html

URLs in this post:

[1] NY Times : http://dealbook.blogs.nytimes.com/2009/02/23/black-swan-author-sees-trouble-exceeding-1930s/

[2] Image: http://www.efoodsdirect.com/products.html

[3] Obama Stimulus Made Economic Crisis Worse, `Black Swan’ Author Taleb Says: http://www.prisonplanet.com/obama-stimulus-made-economic-crisis-worse-black-swan-author-taleb-says.html

[4] Ron Paul’s Economic Platform Cheered by ‘Black Swan’ Author: http://www.prisonplanet.com/ron-paul%e2%80%99s-economic-platform-cheered-by-%e2%80%98black-swan%e2%80%99-author.html

[5] Taleb: Global Crisis “Vastly Worse” Than 1930s, Buy Gold and Copper: http://www.prisonplanet.com/taleb-global-crisis-vastly-worse-than-1930s-buy-gold-and-copper.html

[6] Did a Big Bet Help Trigger ‘Black Swan’ Stock Swoon?: http://www.prisonplanet.com/did-a-big-bet-help-trigger-black-swan-stock-swoon.html

[7] Nassim Taleb: ‘The Only Candidate I Trust Is Ron Paul’: http://www.prisonplanet.com/nassim-taleb-the-only-candidate-i-trust-is-ron-paul.html

Copyright © 2013 PrisonPlanet.com. All rights reserved.