'We're in the Middle of a Crash': Black Swan

CNBC ^ | July 2, 2009 | cnbc.com

[SvenMagnussen]

The financial system is crashing and action must be taken by the US government to convert debt into equity to produce a more stable environment, Nassim Taleb, author of "The Black Swan," told CNBC Thursday.

[SvenMagnussen]

"You may have green shoots, whatever you want to call them, you may have temporary relief, but you are still in a world that's breaking," Taleb said on "Squawk Box."

[Nonstatist]

convert debt into equity

What the eff does that mean??! Can you also convert poverty into affluence? Hand me the pills.

[WhistlingPastTheGraveyard]

Because U.S. government action has been so spectacularly effective to this point. Bring on Stimulus II!

[Obadiah]

Obama, Pelosi, Reid and the Democrats have brought disaster upon us. In addition to the continuing crash of jobs, they have squandered trillions of dollars, and we are now up to our eyeballs in debt.

Obamanomics!

[Erik Latranyi]

Those “green shoots” are really the tentacles of socialism.

[Perdogg]

http://www.freerepublic.com/focus/f-news/2284024/posts

[C19fan]

convert debt into equity

Imagine GM and Chrysler on a national scale.

[Nonstatist]

The government needs to deleverage debt and not try stimulus packages that will inflate assets, he said.

I agree with that, but having the government become part owners of up to a third of American homes is simply nuts.

[jboot]

I wondered that, too. I think I’ll call my mortgage holder and tell them I’d like to “deleverage my debt.” Let’s see what they say!

[Zeddicus]

Well, he’s right about the “middle of a crash” bit, but he’s nucking futs with this “convert debt into equity” rubbish.

I can’t believe there are people talking on TV and being taken seriously about this kind of snake oil. Debt is debt, PERIOD. Monetizing debt the is a fraudulent shell-game perpetrated by a malevolent government who cares only about retaining the power and wealth of the ruling class.