In AsburyPark@yahoogroups.com, [EMAIL PROTECTED] wrote: > Thanks, Mario, for the additional details on the Black Swan book. That was for those unfamiliar with the book and who might have misapply the allusion. > But you didn't tell me if you agree with Taleb's current prediction. That was my question.
I have no problem saying, "I don't know." But it seems to be a matter of "Which gloomy predictions?" If one wanted to "cherry pick," looking for some good news, there's Financial Times' Martin Wolf: Hope in G7 cooperation re re-capitalization rather than just buying up toxic assets; global cuts in interest rates; U.S. exports up; U.S. banking system only 2 x GDP, relatively low; and "In the end, economies always recover." Other economists point to renewed global faith in U.S. treasury, solvency, dollar, and tools in place now which weren't in 1929. > How's this suggestion for fiscal stimulus: Why don't the government wizards remove income limits on how much people can earn in addition to their social security? Also this: "At a hearing on Thursday in the Senate Banking Committee, Sheila Bair, the chairwoman of the Federal Deposit Insurance Corporation, confirmed that the F.D.I.C. is working with the Treasury to streamline the reworking of troubled mortgages. The aim is to make the loans affordable over the long term so that borrowers can avoid foreclosure and keep their homes. "Though details of the plan are not yet worked out, the outline calls for creating standardized criteria that would be used by mortgage servicers, the firms that handle collection and foreclosure proceedings for lenders and mortgage investors. Loans modified under the criteria would be eligible for a federal guarantee that would protect lenders and investors against default. "If the criteria are well established, defaults on the modified loans should not be a big problem...." _http://www.nytimes.com/2008/10/26/opinion/26sun1.html_ (http://www.nytimes.com/2008/10/26/opinion/26sun1.html) Just a layman here, trying to figure it all out like all the “experts.” Greenspan didn’t help last week with his choice of words: “once-in-a-century credit tsunami.” **************Play online games for FREE at Games.com! All of your favorites, no registration required and great graphics – check it out! (http://pr.atwola.com/promoclk/100000075x1211202682x1200689022/aol?redir= http://www.games.com?ncid=emlcntusgame00000001) [Non-text portions of this message have been removed] ------------------------------------ Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
