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Nassim Taleb Protests Bernanke Reappointment By Going Into Self-Appointed Exile
And so economists begin their protest against the perpetuation of the farce that is US economics, and the madman in charge of the USS Titanic - Ben Bernanke. Nassim Taleb has decided to go into exile courtesy of the imminent reappointment of the man who not only caused the near destruction of the financial system, but with his actions has sealed the fate of America's middle class. In a post titled "Good Bye! The reappointment of Bernanke is too much to bear" Taleb bids farewell and shares his disgust with the bullshit that the Wall Street - D.C. cabal has become, and the certain destruction that it is leading this once great country to. While we may or may not agree with Taleb's expression of disappointment, it, together with ever more vocal demonstrations of anger at Bernanke's second term by more and more prominent politicians, presents an increasing social problem for Obama, who has now bet the farm as well as taken out a CIT-funded 3rd lien on the success of Bernanke's policies, as well as sacrificed the future of the US middle class so that Wall Street can enjoy another record bonus year.
From the HuffPo:
What I am seeing and hearing on the news -- the reappointment of
Bernanke -- is too hard for me to bear. I cannot believe that we, in
the 21st century, can accept living in such a society. I am not blaming
Bernanke (he doesn't even know he doesn't understand how things work or
that the tools he uses are not empirical); it is the Senators
appointing him who are totally irresponsible -- as if we promoted every
doctor who caused malpractice. The world has never, never been as
fragile. Economics make homeopath and alternative healers look
empirical and scientific.
No news, no press, no Davos, no suit-and-tie fraudsters, no fools. I
need to withdraw as immediately as possible into the Platonic quiet of
my library, work on my next book, find solace in science and
philosophy, and mull the next step. I will also structure trades with
my Universa friends to bet on the next mistake by Bernanke, Summers,
and Geithner. I will only (briefly) emerge from my hiatus when the
publishers force me to do so upon the publication of the paperback
edition of The Black Swan
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NNT,
i love ya, man! but, this sounds a bit unhinged. bernanke's reappointment should reinforce your hyperinflation thesis, not nullify it. now is the time to stand in and fight, not retreat.
good luck with the book.
Now that's a black swan event. No?
Booo fOOkin hooo NNT. The world anxiously awaits your next brain fart.
Taleb, PLEASE take Bernanke, Summers & Geithner (The New Three Stooges) with you...PLEASE!
and stare into the maw of the Grand Supercycle Collapse.
and more good/bad news depending on your perspective (there is hope/despair)
Turnbull Ousted in Australia, Imperiling Climate Bill
Dec. 1 (Bloomberg) -- Australia’s opposition Liberal Party ousted its leader, Malcolm Turnbull, throwing the government’s climate-change bill into jeopardy and raising the prospect of an early general election.
http://www.bloomberg.com/apps/news?pid=20601080&sid=aRTd4dwe3OVs
Damn good news;he was chairman of Goldman Sachs Australia.
So it has come to this!
I can imagine how he feels. He is like: "Has anyone even been listening?"
Basically, he has waged war against US economic policy, which Bernanke is the physical embodiment of.
And now he has found out that there is no public outcry, and the mainstream media is all over Bernanke, as if
Taleb never existed!"
Everyone wants the game to go on...
It would appear as though Nassim has grown weary of yelling at the passing clouds from his front lawn. I wonder if John Kay is going to join him for a toast of bitters.
Soooo... The Black Swan is flying south for the winter?
http://en.wikipedia.org/wiki/The_Black_Swan_(Taleb_book)
WOW ! DOUBLE WOW! Where do we find more people like this ! Someone with real fortitude ! I want to shake his hand ....... what can we "little people" do to support this person and get the word out ?
Hopefully the natural laws of randomness will return, someday.
Sorry haters, I applaud his stance. We need more vocal critics. Instead we get a bunch of Marla's throwing PC softballs from Sweden.
Reminds me of Yoda's self imposed exile on Dagobah.
"Into exile I must go. Failed, I have. Hope, we can. Done, it is. Until the time is right, disappear we will."
"Into exile I must go. Failed, I have. Hope, we can. Done, it is. Until the time is right, disappear we will."
Yoda was John Galt?
Good point. I haven't read the book. Any other parallels between Atlas and Star Wars?
none that i could see.
Atlas shrugged anyone?
While I have criticism of aspects of Atlas Shrugged- the original, and some of Nissim Taleb's fuzziness, I am completely on the side that the world is going up-side down, and while inertia may keep it going a bit longer the gap between reality and fantasy can only stretch so much.
The insane brainwashing in the system is simply too much to correct itself, and standing aside if at all possible is the best choice.
It's not the gap between reality and fantasy that's so troubling - it's the gap between truth and untruth, along with it's propagandized inconsequences, embracing the mind f*ckng strategy of Coward-Piven.
http://en.wikipedia.org/wiki/Cloward–Piven_strategy
it's been atlas shrugged for a while but not b/c bernake. more like frank and dodd and the other nitwits trying to regulate everything in the financial system. what's their ultimate goal? cast blame, create new laws/taxes to "protect everyone" and get elected again. biggest threat to a recovery in my opinion.
Agreed
The Titanic was built to sink.
Yup.. the "Who is John Galt" irony is thick.
Hope we hear from NNT again soon..
as Todd said earlier today, "true education lies in the friction of opinions"
without NNT.. there is a little less friction.. and therefore a little less education.
I only know this because I'm close to someone who is in a position to know: Bernanke was supposed to have been "out" some time ago but the Squid can't find anyone qualified who is willing to take his place. So Bernanke stays.
My own observations: Bernanke didn't "cause" this mess. He's a good soldier. He knows what he's doing and why: He was hired because the Squid knew he'd do everything Greenspan told him to.
If you want to be mad at anyone be mad at Mssrs. Greenspan, Kissinger, and Bush Sr. This huge operation is their baby. Mission: Interrupt the "takedown phase" of a dying fiat currency and stiff the International Repo Man. The world's banksters had expected to clean up by shorting the US and repossessing our properties but were stiffed with a bunch of no-recourse derivatives and rigged markets that went up when they were supposed to go down. Too bad so sad, lesson: Don't short the US.
My apologies to anyone who ended up as collateral damage in this bankster war. Not that I'm in a position to speak for the Squid. But if I were . . .
Once upon a while ago Bernanke said of the Depression "But thanks to you (Friedman), we won't do it again." I think I know what he meant. But then again I know nothing for sure.
Ron Paul says BB was just being an arrogant prick to Friedman, because Bernanke was implying that in '29 the Fed didn't do enough, that it should have immediately and massively inflated the dollar.
bullshit on the idea that those three scumbags (G, K,& B) forced the bubbles as an operation against the world's banksters
it has all been for the banksters
all of it
end the squid. end the fed. public enemy #1.
Well OK, but then I call bullshit on your Grand Unified Bankster Theory.
You think these guys all agree? This is a faction war between international banksters with very different ideas about how the future ought to go down. It is a war with double and triple agents working at cross purposes to one another and flipping whenever it suits them. Notice the trail of dead bodies from this war? If the banksters were all in agreement over how they were going to relieve us of all our money we wouldn't be having this conversation.
The Fed is only a part of one faction. There are multiple factions with multiple levels. The Squid is not the Eye but a tentacle.
+1 on the 5 Families Fractal Faction Theory
maybe some of us should rewatch the godfather
(fun trivia: it's our fair leader's favorite movie)
"You better get out of here, Enzo, there's gonna be trouble..."
thank you kindly for sharing your intel & observations. this and the BIS article shared by someone elsewhere adds some useful color to the connect-the-dots picture in me head.
Wish I was going with him. Watching this brown submarine's decaying orbit is definitely better done from a distance.
How many campuses has Taleb visited? How many chambers of commerce? Has he ever heard of "takin' it to the streets." Just because you write a book, doesn't mean the people you need to reach will be reached. Not everybody has a Bloomberg terminal, checks a financial news website or researches the web for tidbits of truth. Taleb thinks he needs a break? He certainly hasn't been working hard or smart enough.
It's trying to convince people today of a catastrophe comin tomorrow. People dont give a toss whilst they perceive the going's alright. You try and tell them.
The irony is, if you suceed, and we avert catastrophe because of your great efforts, you'll look like a twat because the world didnt end afterall :)
Taleb has been an active pair of boots on the battlefield. The MSM does not listen. I understand why he would want to take a break. I need a break too.
Indeed. I wish him a quiet place to watch the fool's parade. He said plenty. Life is more than getting your soul-sucked out by the media hounds with ink to drown your words.Let the birds poop on an empty pedestal. I know, I stole myself away as long as I can; the light bothers my eyes.
Survival trumps winning.
I've been "protesting" since March - when I got rid of as many USD as practical and turned them into commodities and PMs.
Playing Bernanke's game isn't so hard as long as you understand his goal is the complete and utter destruction of the USD.
Interesting post, and very Randish indeed. Taleb is not an economist though. In fact, he would probably be insulted to be called one.
God bless him. I should do that. Bernanke, Summers, Geithner, Romer - all utter and absolute morons along with the 530 idiots (Paul, Grayson and a few others excluded) in Congress.
If he gets re appointed the whole world should go i nto exile
we will need it after he causes complete economic collpase and WW3
<economist name here> Protests Bernanke Reappointment By Going Into Self-Appointed Exile
Please add:
a)Nouriel Roubini
b) Robert Prechter
c) Any Elliot Wave proponent
Dear Mr. Taleb, your departure sounds good (prima facie).
But... is it also because Bernanke burnt your derriere while you were sorting stocks?
Be brave, stay put and time it. Soon enough your black swan will fly over Bernanke's carcass. Suicide? Apnea? Lack of sleep? Or a templar aperture by a Glock 40? No matter.
Redemption is on the way. You must lead, not retreat.
brainiacs, his march trade was either cat d, or hype i, fly into the mountain, or into the ocean, just not the runway, ie OTM options in each direction, get it straight. obV the hype i trade has come in. carry on, good night.
So, where's he going to go?
Is he going underground, as well as in exile? I wonder if he's becoming a Perpetual Traveler?
This is a guy who wrote several books, at least two of which were on the border of actual philosophy, erudite and literary. So what's with this dumb proclamation of his? Was he drunk? Or is this really how his writing looks without an editor? Take garbled sentences like "we promoted every doctor who caused malpractice" and "Economics make homeopath and alternative healers look empirical and scientific" and then there's "No news, no press, no Davos, no suit-and-tie fraudsters, no fools." which isn't even a sentence as I understand the definition, and of course "I need to withdraw as immediately as possible..."
Just weird.
I havent met him, so couldnt say for sure, but it seems Bernanke sees himself more as a wizard than a Skeptical empiricist, the trouble is we dont live in a Disney movie.
Talebs way of thinking is much more grounded in reality, which is what Bernanke wants to avoid at all costs. Can see why Bernanke would make him despair, he stands for almost everything he despises.
Still, if Taleb emerges from exile with a new book, it will have achieved something.
Maybe I'll finish reading the Black Swan by the time he comes back from his vacation, i mean self-imposed exile.
would've been funnier if the strikethrough had worked.
Nobody in Washinton is listening. They're all on a mission.
Thank god, we don't have to listen to NNT's obfuscated ramblings (for a while).
Errm, going into "exile" would be moving to Canada or Mexico in protest. fannybaws is just going to sit in his fat arse in his library reminding himself how great he is. Lets face it, if he had released The Black Swan in 1997, no-one would have given a sh#t.
taleb is not an economist!!!
Taleb's having his Mugatu moment: "doesn't anyone notice this? I feel like I'm taking crazy pills!"
Will equities rally another 3.5% once BB gets reappointed? (much as I'd prefer a different outcome)
Equities rally 3.5% on BB's contract getting reupped? You betcha. I have to dig around to figure out the day when the Senate votes him back in. That'll do it.
Bergabe will end this economy and he'll be praised by the beltway bozo's in Congress and the Mainstream Media until the country makes its final swirl down the sh*tter!
the toothless tigers in the senate merely meow and beg for scraps from the fed, we all know who is running the show.
With a $12 trillion debt, the only way out is to destroy the value of the dollar. How long will the US be able to sell long term bonds when everyone knows they will be worth nothing in 10-20 years? When the bonds start getting cheap and interest rates rise, how will the US finance its debt?
When did this exile start?
I bought a paperback copy of Black Swan in a charity shop 9 months ago
When did this exile start?
I bought a paperback copy of Black Swan in a charity shop 9 months ago