CNBC interview with Nassim Taleb from earlier today. Of interest are the following observations:
- Why trust the employment number forecasts being made? These forecasters did not forecast the downturn.
- When the unemployment number has essentially doubled in less than a year, why worry about one monthly number? Error must be considered.
- The current system is complex and fragile, and will eventually break and crash.
- Instead of deflating debt, governments are trying to stimulate and inflate assets.
- Monetary policy is out of control.
- We need to convert debt to equity.
Source: CNBC Video