Nassim Nicholas Taleb - What is a "Black Swan?"

Both Nassim Nicholas Taleb and Nouriel Roubini correctly predicted the market was built on sand and would eventually collapse; but neither one of them got right precisely when it would happen (they both thought in 2003). Predicting exactly when or why is not the issue.  The issue is the poor choice of fiscal policy.

Steve Keen predicted the exponential growth of private debt and build up of a financial bubble that would soon crash.

Joe Stiglitze predicted an “unsustainable growth” that was doomed to crash.

George Soros, correctly predicted the housing bubble collapse, which then exposed a much deeper bubble (a super-bubble in Soros’ terms) that was the entire solvency/credit trap that has taken over and the failure of 30 years of economic policy; 

Nassim Nicholas Taleb - What is a "Black Swan?"

Steve Keen: The Naked Emperor Dethroned 1/7

Who Predicted The Global Financial Crisis?

 

 

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I just now, Oct. 14, that I had not opened your comment. Thank you for the reference. Sheila Bair is a name that often comes up when discussing the financial crisis. I shall read "Bull by the Horns". Thanks for the recommendation. 

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