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Taleb and Roubini: Black Swans, Dr. Doom and Geithner

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All of this is going to lead to high inflation. We got into this mess by spending money we don't have, and now the government is going to do the same thing to try to get us out of this mess. It's like digging a hole to get yourself out of a hole. We need to build a ladder instead. This stimulus is going to fail and we as Americans are going to pay a steep price.

Eric of CA 11:27PM February 10, 2009

They're insolvent in the US and many other countries including the UK. We know they have to go into receivership / Chapter 11 at some point so that they can come out of the other side. As usual politicians make single step after single step when radical steps are needed. It also seems to me that the new plan, if you can call it new, amounts to financial protectionism. And we know where that will take us.

Michael 5:09PM February 10, 2009

that none of us, including Mr. Obama and Mr. Geithner know just how broke the banks are.
If the asset side of the balance sheet contains "assets" that no market can value, then NONE of us know. Right?

Muser of NM 3:19PM February 10, 2009