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Nassim Taleb on Charlie Rose: "Massive Deflation Nightmare, Roubini Too Bullish"
- Thread starter Daal
- Start date
Quote from richrf:
Like any investment, the government should look at a well drawn out business plan, that would not only attract government money but also private investment money. Depending upon the plan, and what it requires, I would decide how much to invest. I was a VC at one time, and I know how to draw up plans and sell them.
However, we have some dimwits, running these organizations, and are making millions while they run these companies into the ground. So there is nothing to look at. What do they care? It is a Free Market. They can do what they want. They can vote themselves giant salaries, loot the bank, and then walk away with a very nice life, while our country goes down the drain.
So, if the Republicans put in the bill that these idiots have to be ousted, and some management is put in place, and they have to come up with a plan that attracts public and private investment, then I would put up what is required.
But, I have no idea what is going to happen, and it all depends on who runs the show. This is where Obama comes in. It is not a do-nothing, know-nothing, like Bush. He is competent, and has extremely competent people around him, who will no doubt come up with actions similar to ones I suggest. It is hopeless trying to get a rationale approach while a dimwits like Bush and Palin are out in front leading this country. They should go into hibernation with their auto executive friends, and leave us to do the necessary work over the next eight years. And please, any other Free Market person, who can't get enough of the fiasco that they help create - take it somewhere else. I am sure there is a country somewhere that hasn't been devastated by Free Market ideology, that they can experiment with.
Its not Free Market when Banks who voted to inflate the Housing Bubble own the very institution thats bailing their asses out (the FED).
Don't be an idiot.
America is NOT Free Market.
America's Banking system is built on the largest Moral Hazard the world has even seen.
Without a blank check guaranteed by the FED, and by proxy, Goldman....er, "the Treasury", Banks are left to succeed or fail based on their own shrewd management.
When Companies are left to fail if they fuck up, criminal leverage and stratospheric risk-taking doesn't happen.
You probably don't even know what a Moral Hazard is.
Quote from scriabinop23:
Not officially a mandate, but undoubtedly engrained in the policymakers' decisionmaking mentality.
By Mr. Bernanke himself.
http://books.google.com/books?id=Mr...a=X&oi=book_result&resnum=6&ct=result#PPP1,M1
http://www.bos.frb.org/economic/wp/wp2005/wp0513.pdf
Inflation targeting is very real.
The US Federal Reserve's policy setting committee, the FOMC (Federal Open Market Committee) and its members, regularly publicly state a desired target range for inflation (usually around 1.5-2%), but do not have an explicit inflation target. This is under debate within the Fed, since inflation targeting is usually very successful in other countries because of its transparency and predictability to the markets.
http://en.wikipedia.org/wiki/Inflation_targeting
"The US Federal Reserve's policy setting committee, the FOMC (Federal Open Market Committee) and its members, regularly publicly state a desired target range for inflation (usually around 1.5-2%), but do not have an explicit inflation target. This is under debate within the Fed, since inflation targeting is usually very successful in other countries because of its transparency and predictability to the markets."
please show proof that inflation targeting works.
Quote from achilles28:
Its not Free Market when Banks who voted to inflate the Housing Bubble own the very institution thats bailing their asses out (the FED).
Don't be an idiot.
America is NOT Free Market.
America's Banking system is built on the largest Moral Hazard the world has even seen.
Without a blank check guaranteed by the FED, and by proxy, Goldman....er, "the Treasury", Banks are left to succeed or fail based on their own shrewd management.
When Companies are left to fail if they fuck up, criminal leverage and stratospheric risk-taking doesn't happen.
You probably don't even know what a Moral Hazard is.
So first your Free Market pals, Greenspan and Bernanke, deregulate the economy, then they turn their backs as your Free Market pals borrow the money at 1% and steal everything in sight with it, and then when things really get mucked up, you wash your hands of the whole thing and say that that was not Free Market. Sort of the like the way the communists say what is in Russia is not Communism. What you don't get is this, so wake up ...
You got EXACTLY what Free Market deregulation YIELDS! THIS IS IT! Real people don't follow the rules. Play a game of poker and learn about people before you spout off naive ideology which never can happen and never will happen. But if you must spout off this failed ideology, at least keep it in academia and debate it with Greenspan.
Quote from blackjack007:
you can tell who here is a loser and who isn't.
the only people against the free market are those who haven't made it big for themselves. i know successful entrepreneurs and small biz owners and NONE of them ever complain about capitalism and free markets. they owe their sucess to the free markets.
all the whining comes from rank-and-file employees and shiftless losers who see others making gobbles of money and fail to understand how to do it themselves or unwilling to take risks to do it. that's your problem, not ours.
You need a clue.
Last time USA was even close to a free market was 1890s-1910. That was not working out too well, with riots & strikes and heavy public upheaval. That's why the government started getting involved, in things like labor laws.
Try educating yourself what free market is meant to be. It's a theory & an ideal. Does not exist, has never existed and never will. Not possible. Try to think why, feel free to use history as your reference.
Quote from Anaconda:
You need a clue.
Last time USA was even close to a free market was 1890s-1910. That was not working out too well, with riots & strikes and heavy public upheaval. That's why the government started getting involved, in things like labor laws.
Try educating yourself what free market is meant to be. It's a theory & an ideal. Does not exist, has never existed and never will. Not possible. Try to think why, feel free to use history as your reference.
There has never been, in the history of mankind, the utopian free market, because there is: 1) Money and 2) Thieves. The moment you place money in another person's hands (e.g. a bank), you need government rules. Stop being so naive. It hurts - unless you are under 10.
Quote from Angrycat:
The idiot is you - that is the moron who lacks reading comprehension skills.
Point out where I ever said that these people give a fuck about you and that they are doing all this for the greater good.
Does it make you feel like a big and powerful man to build those straw men to mow 'em down like that?
You don't even know what you're saying half the time. Why you even bother moving to USA, you seem to be getting torn up inside from all the hate & frustration.
You say that Bernanke & the rest of that crew do not know of the "unintended consequences", when the reality is that they are aiming for those intended consequences. You have any real reason to believe otherwise?
Oh and by the way. If you are a "professional trader" you should be crossing your fingers for the uptick rule to come back. Does not sound like you know what opportunities it presents to the pros.
Quote from richrf:
There has never been, in the history of mankind, the utopian free market, because there is: 1) Money and 2) Thieves. The moment you place money in another person's hands (e.g. a bank), you need government rules. Stop being so naive. It hurts - unless you are under 10.
Try reading what I wrote with careful attention. You don't even have the slighest clue about the roots of socialism, capitalism and the free market ideals. I doubt you can even pick out which one of the three was reality before it became a theory.
Quote from libertad:
Regulation does not have to be anti free market....
Regulation could be implementation of basic common sense.....
Common sense applies across the board......
'common sense' was the home prices couldn't go down nationally. trying to get regulators to guess when the market is wrong and when they should step is an almost impossible task. the regulations after this crisis will probably be made through 'consensus', consensus is a disaster way to regulate since only the contrarians know about the crisis before hand. They will fight the last war