Great article on one of the few people that saw “it” coming… Nassim Nicholas Taleb. A genuine “black swan” of a person. Would that his ideas receive serious consideration by policy makers as they seek to craft a policy response to the burned embers that was once the strongest economic system in the world. One key point raised in the article is that it currently appears that the solution to deleveraging is… more leverage. A concern raised on this blog early on in my post entitled, “Fist do no Harm.”
“The center of the problem is that they don’t know the center of the problem,” he says. “They have not yet entertained the idea that what we may be witnessing is a total failure of a way of doing business.”
A voice worth listening to … Here is Mr. Taleb’s home page.