Scientist: The Current Economic Crisis will be the Greatest the World has ever seen

[Meatpie]

Nassim Taleb says the worse is yet to come.

In a recent interview, Nassim Taleb indicated that the ongoing global economic crisis may not only exceed the Great Depression in severity, it may prove to be the gravest crisis to face the United States since the American Revolution. The entire world is now in the grips of a terrifying Global Economic Crisis.

More at: http://www.globaleconomiccrisis.com/

Disucss.

 

[jimpiano]

Nassim Taleb says the worse is yet to come.

In a recent interview, Nassim Taleb indicated that the ongoing global economic crisis may not only exceed the Great Depression in severity, it may prove to be the gravest crisis to face the United States since the American Revolution. The entire world is now in the grips of a terrifying Global Economic Crisis.

More at: http://www.globaleconomiccrisis.com/

Disucss.

Meatpie is maybe the dumbest piece of fucking shit to walk the earth.

 

[markfive]

I am going to say no on this--I don't think it's going anywhere near Great Depression status. I have several reasons for thinking so.

First, the 30's crash was so unlikely and unique that statistically such an event should be very rare and not repeat again for a very long time.

Second, there is a great mass of mechanisms today to soften the impact of economic contractions--activist central banks, unemployment insurance and other social programs, international institutions like the IMF, etc., etc. Undoubtedly not all of them work as planned, but if even some of them work somewhat, the total effect should prevent the worst from happening.

Third, self-appointed prophets love to predict disaster and apparently people love to hear them do it--predicting nice things just doesn't get you the same kind of audience. Throughout history, somebody has always been predicting the end of the world in some form, and by the law of averages a tiny portion of them might be partly right. But most of them are full of ego and crap.

Fourth, the really bad stuff of history is seldom or never foreseen. 9/11, Bubonic Plague, the Great Depression itself, most all wars and natural disasters--people are busy worrying about completely other things when they happen.

So, as you can maybe tell, I'm old--I've heard a load of BS in my time, and I don't much believe any of it anymore.

 

[Meatpie]

I am not sure what will come out of this but so far things are not looking good.

Meatpie is maybe the dumbest piece of fucking shit to walk the earth.

And what makes you think that?