Dan Paluska


The economy, the experts and The Black Swan
December 12, 2008, 1:13 am
Filed under: Uncategorized

Do you ever get the feeling that those in charge might not know what they are doing? I’ve felt this way for a long time about financial and real estate. As I have lived in Boston and watched prices of real estate rise and watched people go further and further into debt, I couldn’t help but ask myself where it was all coming from? It’s got to come from somewhere. I also watched the profits of all the Wall Street banks go up and up. Where does all this money come from? Are these people adding value to anything? There’s a lot of talk about GDP and “the economy”, but very little of substance. You can’t eat the GDP. It seems to me the experts at the top have been doing a good job of filling their pockets, pumping up the numbers, and very little of anything else. It made me sad to see the bailout go through. It’s certainly a painful issue for a lot of people but it will probably just get worse.

About 2-3 weeks ago I read the book ‘The Black Swan’ by Nassim Nicholas Taleb. Amazing book. I was deeply effected by its core message, the complicated world we live in today is understood by almost no one in the current ivory tower or establishment. This is a book about so much more than the economy. It is a book about our modern world and the human capacity for self deception. Give it a read and apply more doubt to your everyday life.

In his first chapter he tells a great story of the turkey. I could retell it but it’s best to hear it from him. Check out this 20 minute segment with him on the Charlie Rose show. It is well worth your time.

LINK

and another

Advertisements

3 Comments so far
Leave a comment

More on salaries, bonuses, and false profits…

http://www.nytimes.com/2008/12/18/business/18pay.html?em

Comment by danielpaluska

another goodie
Everybody likes to think they are in control.

Comment by danielpaluska




Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s



%d bloggers like this: