Nassim Taleb, the author who gave us the Black Swan, has written an editorial along with Mark Spitznagel, in Tuesday’s Financial Times that told us more — quite economically — about our current economic troubles then dozens of hundred plus-page economic white papers, voluminous government studies or the 89-page blue print for regulatory reform recently released by the Obama Administration ever could have.
He told us something we already knew but consistently try to ignore: We have too much debt. That goes for government business and individuals.
Perhaps we liked the piece so much because it echoed a lot of things we have written here. Particularly the folly of entrusting our economy to the people who either could not recognize the risk in the first place or were directly responsible for it. Taleb wrote, “It is sad to see that those who failed to spot the problem (or helped to cause it) are now in charge of the remedy.”
