Jul 14, 2010

Nassim Taleb on responses to the credit crisis and the buildup of public debt

We are now in a situation in which a patient discovered he had cancer a year and a half ago and all we've been giving him is painkillers. The tumor is worse today, and it's getting worse because we're transforming private debt into public debt, and public debt is not manageable.

~ Nassim Taleb, NYU professor and author of The Black Swan, "Interview by Tom Keene," Bloomberg Markets, August 2010

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