Prophets of doom and recovery
Guy Sorman on Joseph Stiglitz: As Marx was in his day, Stiglitz has become a prophet of doom: the economic system will inevitably fail. There is no easier job in politics than being a prophet of doom: you just wait for the next downturn and claim that you predicted it. Doomsaying is not a scientific [...]
Nassim Nicholas Taleb on stimulus and monetary policy
Nassim Nicholas Taleb, whose writings display a unique combination of common sense and sophisticated epistemological awareness, has co-authored an opinion piece with Mark Spitznagel on the dangers of our culture of debt and misplaced trust in the economic experts of the government and the Fed. One does not need to completely agree with the authors [...]
The war against savers
In the Middle Ages, they threw people who failed to repay their debts into debtors’ prisons. Today debtors are rewarded with all kinds of government perks. Look how far we’ve come! Caroline Baum – Inflation ‘Cure’ Exposed When In-Laws Move In
A conversation with Nassim Nicholas Taleb
Nassim Nicholas Taleb on economic models that we would be better off without: Every time I saw [Federal Reserve Chairman Ben] Bernanke [on television], I would have a fit of rage. He claimed that we were in a period of “great moderation.” He did not understand that Black Swans are preceded by low volatility and [...]