Nassim Taleb was interviewed on CNBC's Squaw Box Wednesday morning (CNBC Video), along with Nouriel Roubini. Some observations from Taleb include the following (the first one still worth repeating, especially given the recent market moves and short covering, the remaining ideas being essentially repeats from other interviews/columns):

  • Short-term markets mean nothing. They are driven by the marginal buyer/seller.
  • The risk and problems that we had before - debt, poor leadership - are still there.
  • Converting private debt to public debt is just causing more problems.
  • Structural problems have not been addressed.
  • Too much reliance / susceptibility to forecast errors for the recovery, budget, and debt forecast.
  • Policy makers are still not working on the main problems and there cures, just the symptoms.
  • We are continuing to reward those who got us into our current problems.
  • Nouriel Roubini is usually correct, except for wanting to reappoint Federal Reserve Chairman Bernanke (comment after some praise - to easy, just cannot help himself).