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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (88892)	10/21/2008 11:03:35 PM
From: koan	Read Replies (2) \| Respond to of 116555

Just watched two guys on PB,S Mandlebrot (a mathematician who works with economic fractals and probability); and the author of the Black Swan, Nassim Taleb, which predicted this economic debacle. They both said the world economic situation could be worse than anything we have seen since 1776!! When asked how bad, they both said it is too complicated and we just cannot know, but 700 billion was pocket money in relation to the potential extent of the problem. Nassim Taleb, author of The Black Swan: "My major hobby is teasing people who take themselves & the quality of their knowledge too seriously & those who don’t have the courage to sometimes say: I don’t know...." (You may not be able to change the world but can at least get some entertainment & make a living out of the epistemic arrogance of the human race). QUOTES FROM THE BLACK SWAN THAT THE IMBECILES DID NOT WANT TO HEAR . On YouTube: Angry at economists producing standardized smart-sounding verbiage Most representative overall profile: Bryan Appleyard in the Sunday Times . What I do: I am interested in how to live in a world we don’t understand very well –in other words, while most human thought (particularly since the enlightenment) has focused us on how to turn knowledge into decisions, I am interested in how to turn lack of information, lack of understanding, and lack of “knowledge” into decisions –how not to be a “turkey”. My last book The Black Swan drew a map of what we don’t understand; my current work focuses on how to domesticate the unknown.