The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: ChanceIs	9/16/2009 11:09:23 PM
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Taleb: On debt: Normally debt would get destroyed and turn to air. Debt is a mistake between lender and borrower, and both should suffer. But the government is socializing all these losses by transforming them into liabilities for your children and grandchildren and great-grandchildren. On Bernanke: Ben Bernanke saved nothing! He shouldn't be allowed in Washington. He's like a doctor who misses the metastatic tumour and says the patient is doing very well. On Summers: The first thing I would tell Chinese officials is, how can you buy U.S. bonds as long as Larry Summers is there? On General Electric: If you make corporations compete, sometimes the one that appears most fit for survival is really the one that is most exposed to the negative black swan. What happens is that if you make $4 a share but you're betting the ranch, like GE, the analysts will love you. But if you make only $2 a share with no risk on your book, they'll say you're not doing well. All the incentives are perverse. _______________________________________ Ouch. I thought that Jim Rogers was bombastic. (I love it.) Globe and Mail interview I found through Mish: theglobeandmail.com

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