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.


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3 Comments so far
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More on salaries, bonuses, and false profits…


Comment by danielpaluska

another goodie
Everybody likes to think they are in control.

Comment by danielpaluska

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