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Saturday, September 3, 2011

Nassim Taleb: Outraged

On BBC, August 18, 2011, Taleb: "A ponzi scheme generates growth. That is not the kind of growth we want."

Posted by Dagny Taggart at 1:44 PM
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1 comment :

  1. mark mchughSeptember 14, 2011 at 12:44 AM

    I like Taleb, but he misses a key point - the government gets a very big cut of that free money from the Fed in the form of treasury purchases, together the bankers AND the government have hijacked the country. The US government obtains the money it spends by running fake debt auctions -arranged by the Fed (Go to the US Treasury's website and see where most of the data actually comes from).

    Bankers get bonuses, the government gets all its idiotic fantasies fully financed, and our children get the debt burden.

    This detail continues to elude Nassim.

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