http://www.arabianmoney.net/us-dollar/2013/11/14/black-swan-author-warns-janet-yellen-and-rising-government-debt-are-leading-us-to-another-catastrophe/
My view:
Taleb hits the nail on the head in this interview.
The black swan is growing government debt - even the fact that government has any debt at all!
Early and medieval societies took a dim view of debt in general and interest charged on debt in particular.
Perhaps we are seeing the beginnings of a shift in attitude toward debt?
The very elderly now are the only people with first hand experience of the Great Depression.
A former neighbor of mine certainly had the view "don't get into debt!" after the trauma of farm life in the 1930s as a boy.
One of my risk indicators is giving some early signals that risk may soon "turn off". Perhaps the bull market in stocks and bonds is running out of steam?
I will share this once some tangible confirmation is received.
My view:
Taleb hits the nail on the head in this interview.
The black swan is growing government debt - even the fact that government has any debt at all!
Early and medieval societies took a dim view of debt in general and interest charged on debt in particular.
Perhaps we are seeing the beginnings of a shift in attitude toward debt?
The very elderly now are the only people with first hand experience of the Great Depression.
A former neighbor of mine certainly had the view "don't get into debt!" after the trauma of farm life in the 1930s as a boy.
One of my risk indicators is giving some early signals that risk may soon "turn off". Perhaps the bull market in stocks and bonds is running out of steam?
I will share this once some tangible confirmation is received.
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