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Monday, July 06, 2009

Ignore the green shoots; we are in a crash!

“You may have green shoots, whatever you want to call them,” said market sage and author of The Black Swan Nassim Taleb. “You may have temporary relief, but you are still in a world that's breaking. We're in the middle of a crash. So if I'm going to forecast something, it is that it's going to get worse, not better."

And the root of all our woes, Mr. Taleb? “The monkey on our back is debt.”
-- from "The Ghosts of 2008, Gold Stocks, A Currency Play, Bank Role Reversal and More!" by Addison Wiggin & Ian Mathias


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