I have not had time to come up for air in the previous week, much less post intelligently on a subject rife with complexity like the turmoil on Wall Street. This is unfortunate because it’s a very important story and it seems to be taken by the MSM with about\u00a0the same gravity as\u00a0SNL skits. Here are\u00a0two recommended posts on the subject:<\/p>\n
Nissam Nicholas Taleb – THE FOURTH QUADRANT: A MAP OF THE LIMITS OF STATISTICS<\/a> <\/strong><\/strong><\/p>\n The author of The Black Swan<\/em><\/strong> extends his theory into strategy while critiquing the causes of the current mess. A must-read piece ( hat tip Lexington Green<\/a><\/strong>)<\/p>\n Fabius Maximus<\/a><\/strong> – Another voice warning about the nationalization of\u00a0AIG<\/a><\/p>\n FM should get some credit where credit is due. The 4GW school ( and to an extent Fabius) were subjected to complaints that 4GW thinkers were long on criticism and short on solutions and blind or disdainful of economic variables. Fabius has\u00a0made a special effort since he’s started blogging to concentrate on these areas and integrate economics into the 4GW critique. His post is rich in links and normative argument.<\/p>\n My own opinion? There are no levers scaled to the size of an even quasi-integrated global economy and the best that can really be managed in terms of intervention would be to get all of the major central banks on the same page on one or two relatively simple interventions, along with Treasury and the major holders of dollar reserves. They might be harnessed for a limited,\u00a0stabilizing, effect but I think we have to accept that the global economy has shed it’s old skin from the nation-state Keynesian era once and for all.<\/p>\n","protected":false},"excerpt":{"rendered":" I have not had time to come up for air in the previous week, much less post intelligently on a subject rife with complexity like the turmoil on Wall Street. This is unfortunate because it’s a very important story and it seems to be taken by the MSM with about\u00a0the same gravity as\u00a0SNL skits. Here […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[360,332,456],"tags":[],"class_list":["post-2865","post","type-post","status-publish","format-standard","hentry","category-21st-century","category-economics","category-globalization"],"_links":{"self":[{"href":"https:\/\/zenpundit.com\/index.php?rest_route=\/wp\/v2\/posts\/2865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zenpundit.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zenpundit.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zenpundit.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zenpundit.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2865"}],"version-history":[{"count":0,"href":"https:\/\/zenpundit.com\/index.php?rest_route=\/wp\/v2\/posts\/2865\/revisions"}],"wp:attachment":[{"href":"https:\/\/zenpundit.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zenpundit.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zenpundit.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}