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Are there any housing bubble-style “black swan” events looming? According to Taleb and Altman:
- Altman expects a solution to the fiscal cliff, and even if we didn’t the markets would demand one within a week of going over it.
- Taleb thinks we have had things too good for five years because of the Fed propping things up, but underneath the Fed’s medicine the wounds are still festering. The system hasn’t been fixed.
- Taleb believes the income inequality issues of the country are due to quantitative easing done by the Fed which inflates the value of assets held by the rich.
- Taleb believes that those in positions of power (at the top of the banking industry) need to have more skin in the game; they can’t blow up a bank and still walk away rich.
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