Post by slappy on Sept 30, 2010 19:22:22 GMT -5
"one of the world's leading financial minds said Thursday that the United States is in the same economic predicament today as it was in 2007, predicting that within 25 years the Federal Reserve "will be gone.""
"Nassim Nicholas Taleb, renowned derivatives trader, university professor and author of "The Black Swan," warned a gathering in Washington of the growing risks the nation has taken on as a result of poor decisions by the Fed and policymakers, including trillions of dollars in taxpayer money funneled into bailouts of private industry.
"This transformation from private debt ... to public debt" is "bad" from a risk standpoint and "immoral" from an ethical standpoint, Taleb -- a member of the Derivatives Hall of Fame whose book became a bestseller -- told a crowd at the Washington Ideas Forum, an event held by The Atlantic and The Aspen Institute. Deficits "will break the Fed" and it will be replaced, he predicted."
www.huffingtonpost.com/2010/09/30/nassim-taleb-federal-reserve-will-be-gone_n_746109.html
Sounds like fantastic news, hope I'm still around in 25 years to see it end.
"Nassim Nicholas Taleb, renowned derivatives trader, university professor and author of "The Black Swan," warned a gathering in Washington of the growing risks the nation has taken on as a result of poor decisions by the Fed and policymakers, including trillions of dollars in taxpayer money funneled into bailouts of private industry.
"This transformation from private debt ... to public debt" is "bad" from a risk standpoint and "immoral" from an ethical standpoint, Taleb -- a member of the Derivatives Hall of Fame whose book became a bestseller -- told a crowd at the Washington Ideas Forum, an event held by The Atlantic and The Aspen Institute. Deficits "will break the Fed" and it will be replaced, he predicted."
www.huffingtonpost.com/2010/09/30/nassim-taleb-federal-reserve-will-be-gone_n_746109.html
Sounds like fantastic news, hope I'm still around in 25 years to see it end.
