Quote of the Day July 2
There are a few people I trust and believe (but verify periodically) when it comes to the economy. Rick can put this one down as a conservative conspiracy if he likes, but I post this quote in all seriousness. Taleb is someone worth listening to.
“We’re in the middle of a crash.” ~ Nassim Taleb, author of “The Black Swan
I am reading his book. It meanders a little but is loaded with fascinating ponderables.
What is a Black Swan event?
An event or occurrence that deviates beyond what is normally expected of a situation and that would be extremely difficult to predict …
… is one way of explaining it, but it’s also about a refusal to recognize the significance of that occurrence and its affect on your life.
Just as an example from my own personal conversations here in S. Fla, I can say that many Cubans thought their exit from the island was temporary. Many cemented family valuables under tiles in the floors of their homes - sure they would return soon to reclaim their wealth and their lives. It’s been - what? Fifty years? Plans have been passed down from family member to family member over generations on who is designated to go when Castro falls and reclaim them ancestral estate. They did not recognize the “Black Swan” for what it was when it appeared and they definitely did not see it coming. People have this odd blind spot when it comes to history in the making. They don’t see the significance of what is happening and can’t project what it means and where it will lead because they base their projections on what they know and believe is true right now.
The world is not a static place and we are not static beings, but for some reason we are trapped mentally in static beliefs. Why is that? It’s weird.
In anycase, if you have not been paying attention here’s a head’s up that most of you won’t believe regardless of what I say.
We.are.in.the.middle of.a.crash.






