Driving a School Bus Blindfolded

If you are interested in what the people who accurately analyzed and predicted the current economic conditions have to say go HERE. Nouriel Roubini and Nassim Taleb, author of Black Swan (Dr. Doom and Mr Armageddon) lay it all out there. We must get rid of debt (banks, companies, consumers) and get rid of the people who sat around and did nothing because they didn't know what was going on. Both think Bernanke absolutely must go and Paulson should do the honorable thing and kill himself. Keep in mind this interview is on CNBC and the assholes who pretend to host also must pretend they know something. They prove their raging incompetence by demanding stock tips too and are living proof that you never go to CNBC for any market or economic advice. Roubini and Taleb never agree on anything but (this is scary) they agree on most in this interview. You gotta pay some attention to their views. Both say we are entering the worst recession ever and it will be the end of 2010 before we end this. Both say the banking system is bankrupt and must be changed, that executive pay is structured to reward excessive risk and failure, and that the banks must be nationalized. A comment by me: I was trained in the futures markets under Peter Steidlmayer, a guy who always considered "surprise" and "big surprise" (foreseeable disasters and total and complete surprise disasters like a 9/11, called a Black Swan event) as a part of the trading experience; they are going to happen, you must be prepared for them, and you must let the markets tell you what is going on and then react. The current genius class mathematically structured their investment tactics thus treating the fucking markets as if there were scientific principals like "E=mc2 or shit squared is more shit" working in the markets. Impossible.