Black Swan author Nassim Taleb Says US ‘Death Spiral’ of Debt
Taleb defined the ballooning debt load as a “white swan,”
He did say white swans include both the US deficit and an economy that’s far more vulnerable to shocks than in prior years.
The reason for that, he said, is that the world is far more interconnected due to globalization, with issues in one region able to ricochet around the world.
When asked how the US “spiral” could ultimately play out, Taleb said “we need something to come in from the outside, or maybe some kind of miracle.”
“This makes me kind of gloomy about the entire political system in the Western world,” he said.
Bloomberg 30 januari 2024
Robert Rubin Sees 'Enormous Risks' to US Federal Deficits
https://englundmacro.blogspot.com/2024/01/robert-rubin-sees-enormous-risks-to-us.html
Världsordningen går mot en kollaps
Rolf Gustavsson SvD 28 januari 2024
https://englundmacro.blogspot.com/2024/01/varldsordningen-gar-mot-en-kollaps.html
Nicholas Nassim Taleb, The Black Swan
Taleb attacks in particular economics which uses standard Gaussian bell curves to "prove" their points. Everything has to fit within the curve.
He creates a world he calls Mediocristan which is the world of white swans, bell curves, and predictability. He contrasts this with Extremistan which is the world of chaos, fractal geometry, power laws, Black Swans, and where the unpredictable happens.
https://englundmacro.blogspot.com/2020/07/nicholas-nassim-taleb-black-swan-mauldin.html
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