Tuesday, September 22, 2009

Nassim Taleb to President Obama: 'I want my vote back'

You and millions of others Mr. Taleb. Bush, Clinton, Bush - Obama same politics, newer politician. You want change, vote third party - PERIOD!

Nassim Taleb to President Obama: 'I want my vote back'

“I want my vote back,” Mr Taleb told an audience of business people in Toronto, according to Bloomberg.

Mr Taleb said that the US should avoid the 'moral sin' of converting private to public debts, but that "no one has the guts to say let's bite the bullet."

America's budget deficit reached a record $1.38 trillion in the 11 months to August as spending on unemployment rose and the cost of the $787bn stimulus programme was shouldered.

Analysts have warned that a failure on the part of the US to ease the deficit could force long-term interest rates higher and slow a recovery in the world's biggest economy.

Mr Taleb, whose black swan theory contends that history is made up of rare, totally unpredictable events, also said that financial markets are getting overconfident about a recovery.

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