Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / by Tyler Durden / 11/17/2013 19:18 -0500
“Debt increases tail-risk,” warns anti-fragility expert Nassim Taleb, “whether it’s personal, corporate, or governmental.” A rise in debt, he warns, implies nothing less than a rise in “the risk of catastrophe,” and Taleb chides, governments “should be focused in risk-management… instead of creating these risks.” This brief Bloomberg TV clip cuts to the chase as the normally circumlocutory Taleb unloads on the perils of central banks, “Mr. Greenspan created tail risk by eliminating the business cycle,” and since then tail-risks have accumulated with debt the “number one creator of these risks.” In a fascinating phrase, Taleb notes, “corporate debt is benign,” since in failure it turns into equity, “but government debt is another matter… for it turns into inflation or worse invasion…”
Reflecting on his “skin in the game” approach to risk management (forecast and over-confidence)…
“Mr. Greespan and Mr. Bernanke are unharmed by their mistakes… but who is harmed – you, me, all taxpayers.“
Thanks to BrotherJohnF