May 10 (Bloomberg) — Governments will only bring about an end to the credit crisis through the “blood, sweat and tears” of cutting the amount of public debt, “Black Swan” author Nassim Taleb said.

“The crisis came from debt and you don’t escape it with more debt,” Taleb said in an interview on Bloomberg Radio’s “Bloomberg Surveillance” today. “We’re in a situation where we had a patient who we discovered had cancer a year and a half ago and all we’ve been giving the patient is painkillers. The tumor is getting worse because we are transforming private debt into public debt and public debt is not manageable.”

Taleb, a professor at New York University who also advises Universa Investments LP, a $6 billion fund that bets on extreme market moves, said the financial system faces risk from increased complexity, and President Barack Obama should work with U.S. Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben S. Bernanke to cut debt.

“My fear is if we don’t stop them now they’re going to create hyperinflation,” Taleb said. “Nobody has confidence in a guy like Bernanke.