Re: Vastly Worse than the 1930's Taleb says
From MarkL:
To those who choose to blame the least powerful among us, I suggest they spend an hour watching the The Coming Collapse of the Middle Class which is probably the Elizabeth Warren video to watch if you are only going to watch one. Watching more is highly recommended.
I really get tired of hearing how those down on their economic luck through illness, etc. get blamed for their plight while those up on their luck get to bask in the righteous glow of moral superiority. If you really believe that those who are successful are simply of better stock than those who are not, forget about the Black Swan and read Taleb's earlier book, Fooled by Randomness.
It is hoped that the combined effect of a few Elizabeth Warren videos and some vintage Taleb might be a flourishing of humility and understanding and respect for one's fellow man.
From MarkL:
Those American's that are "debt slaves" today are so due to their own lack of control, ignorance and failure to inform themselves. These people are exemplified by excessive credit card debt when anybody who can read knows that rates can adjust at the whim of the lendor, buying into a housing market bubble with an adjustable rate mortage when they can't afford it, and a failure in general to consider risk.
I really get tired of hearing how those down on their economic luck through illness, etc. get blamed for their plight while those up on their luck get to bask in the righteous glow of moral superiority. If you really believe that those who are successful are simply of better stock than those who are not, forget about the Black Swan and read Taleb's earlier book, Fooled by Randomness.
It is hoped that the combined effect of a few Elizabeth Warren videos and some vintage Taleb might be a flourishing of humility and understanding and respect for one's fellow man.
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