And here's the video for anyone interested who may have missed it: http://www.cnbc.com/id/15840232?video=1027496846&play=1 Good stuff.
Taleb mentions : Change the system...cannot win with the same system.... Cannot win with the SAME FACES SAME PLACES.... ......................................................................... Both Roubini and Taleb get the deleveraging.... Again, in simple terms there was $75 Trillion in a box.... Over $30 Trillion was eliminated.... The government wants to come to the rescue with amounts far less....from a diminishing tax base....and from non productive means.... ........................................................................... This could not be clearer.... ........................................................................... CNBC is the "Lemmings" channel....... They are terrible....in just about every way imaginable.... ........................................................................... Lastly....Taleb and Roubini got it right ....had and have the correct vision.... ............................................................................. Again ....cannot win with..... Same Faces Same Places Same Tax Structure Same political structure Same Stock Market Structure Same Banking Structure All must change.... ........................................................................ My previous posts totally agree with Taleb and Roubini.... ...................................................................... I like Obama because he is self made.... But it is turning out that he is just another lawyer with a podium and has given no evidence that he knows anything about how to resolve economic issues.... Hopefully he will change.... But it does not look promising....in any way.... To take action on failed concepts and erroneous thinking is not helpful.... ..........................................................................
I agree.... well said. I was hoping that Taleb might have mentioned that this crisis might not considered be a random event. I remember all the conspiracy guys saying the fed causes booms and busts. Right as the Greenspan was saying there is no real estate bubble and allowing credit standards to be relaxed to the point of insanity. 110 percent loan to value and 5% kickout to the loan broker. As taleb said - these guys should not be part of the attempted fix. They are criminals or criminally stupid.
And you really expect anyone to believe that a guy who's been the most vocal critic of the banks over the past several years is in fact being paid by those mysterious "elites who control everything" (whoever they are)...
I wonder if Greenspan was interviewed if he would be addressed as "bubble boy". How insulting these bozos from cnbc can't even address these guys by their names. scary!
CNBC also has a vested interest in the status quo> I wouldnt be surprised to see them shut down sometime in the next three years