Roubini and Taleb on Nationalizing Banks

February 11, 2009


Anyone that throws cash at a franchise now (starts, renews), has lost their mind.

  • Please note: No one invests in a franchise. You simply rent an alleged proven system and a trademark for some period of time.
  • You may think you own something of value but that is a type of sleep-walking that you will awaken from.
  • How long will you continue to feed a corpse (ie. continue to make payments into an already collapsing fraud)?

Nouriel Roubini and Nassim Taleb know what they’re talking about, notwithstanding the pettiness of people like Paul Krugman. I did study political economy and using communism as a straw dog argument is unbecoming  anyone that calls themselves a professional economist.

  • Unless, of course, bringing Monty Python in was Herr Krugman’s idea of a joke.
  • That may be a sense of humour not shared by the +500,000 U.S. laid off workers last month.

Nationalize banks (guaranteeing bad debts and a  “bad bank” won’t work).

  1. Don’t reward known thieves and reckless risk-takers.
  2. Cash is King (keep what you’ve got).
  3. Compensation IS the source of the problem.
  4. It’s only started (massive deleveraging still to happen).
  5. The recession could be 10 years long.
  6. Obama’s bailout plan is a BUST.

And don’t listen to the media morons.

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