I stumbled across this last night, and had to share it with you. Nassim Taleb is best known for the book "The Black Swan", which has been widely accepted and talked about among people who are attempting to manage their own finances, be that retirement funds or living as traders. His point is that we don't have a monetary problem that the Fed should be pulling QE2 for; we have a deficit problem which requires Congress not spend more than they take in.
Pay careful attention at the end, when he plugs his new book, The Bed of Procrustes, and explains the title.
Remember that Procrustes was Greek. Greece was the original home of mob rule, aka "Democracy".
ReplyDeleteHe gave "one size fits all" its true meaning.
May we one day return to being a Constitutional Republic.