Sunday, May 9, 2010

Fat Tails and America

Harvard history professor, Niall Ferguson has a wonderful post about America's potential and sudden demise at the 28 February 2010 LA Times, link: http://www.latimes.com/news/opinion/commentary/la-oe-ferguson28-2010feb28,0,7706980.story. Damn he's sharp!

7 comments:

OldSouth said...

Very sharp, but his words fall on deaf ears, I fear...

Anonymous said...

Ferguson is about the sharpest...

"... Any large-scale political unit is a complex system.

Most great empires have a nominal central authority -- either a hereditary emperor or an elected president -- but in practice the power of any individual ruler is a function of the network of economic, social and political relations over which he or she presides.

As such, empires exhibit many of the characteristics of other complex adaptive systems -- including the tendency to move from stability to instability quite suddenly..."


Pres-O never had control and relied on the banksters and Wall Street/White House insiders to trick up a rotten economy and financial system...

Tipping point?

Independent Accountant said...

OS:
That's the way it looks to me too!

IA

Ubu said...

Obama is just another in a long line of Ivy-league dimwits to get in over their head, never having had a clue as to how the economy works, or the slightest inkling as to how to fix it. When trouble appears on the horizon, they call in the Wall St. mandarins and then do what they are told. At this point I'd take a stone crazy but determined Andy Jackson to the shit poured into loafers that runs the show now. I want a man on top who really hates the banker fuckers, and would personally shoot a couple of them in an open duel on the first tee of their private golf courses. A president with a 19th century concept of personal honor, and no aversion to using violence to settle scores.

Independent Accountant said...

Ubu:
See my 4 July 2009 post: http://skepticaltexascpa.blogspot.com/2009/07/yves-smith-skewers-plan.html.

IA

Ubu said...

Great post , IA, Old Hickory rides again!

Independent Accountant said...

Ubu:
Thanks. Were Old Hickory to return, I would be honored to load his flintlocks.

IA