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

Obama Stimulus Made Economic Crisis Worse, `Black Swan’ Author Taleb Says

Posted By admin On September 26, 2010 @ 4:41 am In Money Watch | Comments Disabled

Frederic Tomesco
Bloomberg [1]
Sept 26, 2010

U.S. President Barack Obama and his administration weakened the country’s economy by seeking to foster growth instead of paying down the federal debt, said Nassim Nicholas Taleb, author of “The Black Swan.”

“Obama did exactly the opposite of what should have been done,” Taleb said yesterday in Montreal in a speech as part of Canada’s Salon Speakers series. “He surrounded himself with people who exacerbated the problem. You have a person who has cancer and instead of removing the cancer, you give him tranquilizers. When you give tranquilizers to a cancer patient, they feel better but the cancer gets worse.”

Today, Taleb said, “total debt is higher than it was in 2008 and unemployment is worse.”

Obama this month proposed a package of $180 billion in business tax breaks and infrastructure outlays to boost spending and job growth. That would come on top of the $814 billion stimulus measure enacted last year. The U.S. government’s total outstanding debt is about $13.5 trillion, according to U.S. Treasury Department figures.

Full article here [1]

Having A Supply Of Healthy Foods That Last Just Makes Sense (AD) [2]

Obama Stimulus Made Economic Crisis Worse, `Black Swan Author Taleb Says 140910banner5 [3]


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

URL to article: http://www.prisonplanet.com/obama-stimulus-made-economic-crisis-worse-black-swan-author-taleb-says.html

URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/news/2010-09-25/-black-swan-author-taleb-says-obama-s-stimulus-made-economic-crisis-worse.html

[2] Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43

[3] Image: http://www.homegain.com/homevalues

[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] ‘Black Swan’ Author Sees Trouble Exceeding 1930s: http://www.prisonplanet.com/%e2%80%98black-swan%e2%80%99-author-sees-trouble-exceeding-1930s.html

[6] 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

[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

[8] Stimulus versus Austerity: The Crisis of Europe’s Economic and Financial System: http://www.prisonplanet.com/stimulus-versus-austerity-the-crisis-of-europes-economic-and-financial-system.html

Copyright © 2013 PrisonPlanet.com. All rights reserved.