{"id":2310,"date":"2010-09-29T13:31:42","date_gmt":"2010-09-29T20:31:42","guid":{"rendered":"tag:google.com,2005:reader\/item\/2b69fb9b768073f4"},"modified":"2010-09-29T13:31:42","modified_gmt":"2010-09-29T20:31:42","slug":"obama-stimulus-made-economic-crisis-worse-black-swan-author-taleb-says-bloomberg-2","status":"publish","type":"post","link":"https:\/\/www.blackswanreport.com\/blog\/2010\/09\/obama-stimulus-made-economic-crisis-worse-black-swan-author-taleb-says-bloomberg-2\/","title":{"rendered":"Obama Stimulus Made Economic Crisis Worse, `Black Swan&#039; Author Taleb Says &#8211; Bloomberg"},"content":{"rendered":"<p>\u201cToday there is a dependency on people who have never been<br \/>\nable to forecast anything,\u201d Taleb said. \u201cWhat kind of system<br \/>\nis insulated from forecasting errors? A system where debts are<br \/>\nlow and companies are allowed to die young when they are<br \/>\nfragile. Companies always end up dying one day anyway.\u201d <\/p>\n<p>Taleb, a native of Lebanon who gave his speech in French to<br \/>\nan audience of Quebec business people, said Canada\u2019s fiscal<br \/>\nsituation makes the country a safer investment than its southern<br \/>\nneighbor. <\/p>\n<p>Canada has the lowest ratio of net debt to gross domestic<br \/>\nproduct among the Group of Seven industrialized countries and<br \/>\nwill keep that distinction until at least 2014, the country\u2019s<br \/>\nfinance department <a href=\"http:\/\/www.budget.gc.ca\/2010\/plan\/toc-tdm-eng.html\" title=\"Open Web Site\" rel=\"external\">said in March<\/a>. Canada\u2019s ratio, 24 percent in<br \/>\n2007, will rise to about 30 percent by 2014. The U.S. ratio, now<br \/>\nabove 40 percent, will top 80 percent in four years, the<br \/>\ndepartment said, citing IMF data. <\/p>\n<p>\u201cI am bullish on Canada,\u201d he told the audience. \u201cI<br \/>\nprefer Canada to the U.S. or even Europe.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cToday there is a dependency on people who have never been<br \/>\nable to forecast anything,\u201d Taleb said. \u201cWhat kind of system<br \/>\nis insulated from forecasting errors? A system where debts are<br \/>\nlow and companies are allowed to die young when they are<br \/>\nfragil&#8230;<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-2310","post","type-post","status-publish","format-standard","hentry","category-feeds"],"_links":{"self":[{"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/posts\/2310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/comments?post=2310"}],"version-history":[{"count":0,"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/posts\/2310\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/media?parent=2310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/categories?post=2310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.blackswanreport.com\/blog\/wp-json\/wp\/v2\/tags?post=2310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}