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"Black Swan" author Nassim Taleb on the Debt Crisis, on Davos, on Regulation (VIDEO)

12-18-2010 • GlobalEconomicAnalysis.blogspot.com

"I'm not worried about Europe. I'm worried about here more. Europe is a patient who has been diagnosed with cancer and starting chemotherapy. That is the worst moment. Over here we have had a much larger tumor and we have not been diagnosed. When you are pumping more and more painkillers [qe2s], you stay in the same place and there are harmful side effects. Here, we are not yet at a consciousness. The problem we had was not a recession. It was simply a problem of too much debt."

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