{
    "href": "/post/2009/07/02/were-in-the-middle-of-a-crash-black-swan/",
    "relId": "2009/07/02/were-in-the-middle-of-a-crash-black-swan",
    "title": "\"We're in the Middle of a Crash\": Black Swan",
    "author": "pmjones",
    "markup": "html",
    "tags": [
        {
            "href": "/tag/economics/",
            "relId": "economics",
            "title": "Economics",
            "author": null,
            "created": null,
            "updated": [],
            "markup": "markdown"
        },
        {
            "href": "/tag/government/",
            "relId": "government",
            "title": "Government",
            "author": null,
            "created": null,
            "updated": [],
            "markup": "markdown"
        }
    ],
    "created": "2009-07-02 17:22:24 UTC",
    "updated": [
        "2009-07-02 17:22:24 UTC"
    ],
    "html": "<blockquote>\n<p>\"You may have green shoots, whatever you want to call them, you may have temporary relief, but you are still in a world that's breaking,\" Taleb said ...</p>\n<p>\"We're in the middle of a crash,\" Taleb said. \"So if I'm going to forecast something, it is that it's going to get worse, not better.\"</p>\n<p>The government needs to deleverage debt and not try stimulus packages that will inflate assets, he said.</p>\n<p>\"What makes me very pessimistic in not seeing any leadership or awareness on parts of government on what has to be done, which is deleverage $40-to-$70 trillion,\" Taleb said.</p>\n<p>\"The monkey on our back is debt,\" he added.</p>\n</blockquote>\n<p><em>via <a href=\"http://www.cnbc.com/id/31706523\">'We're in the Middle of a Crash': Black Swan - Financials * Europe * News * Story - CNBC.com</a>.</em></p>\n<p>Another line from Taleb in this interview, paraphrased from memory: \"The people making predictions about the economy, which of them saw the current situation coming?  None of them.  So why believe them now?\"</p>\n<p>I read Taleb's \"Fooled By Randomness\" and \"Black Swan\" a couple years ago, and found them insightful.</p>\n"
}