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IPFS News Link • Depression

Taleb: You Fools Don't Understand That We're Doomed

08/13/2009 • The Business Insider

The Black Swan graced CNBC with His presence this morning. In sum: We're all in denial We're replacing private debt with public debt. We're not dealing with the cancer in our banking system. We're not making the structural changes we need to make. We're not being aggressive enough about restructuring debt (debt for equity swaps). Bernanke is a wimpy Greenspan sycophant Obama's rewarding the fools who got us here (Summers, Bernanke, Geithner) The banksters are taking over again He's pretty much right, by the way. Video at site

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