Wednesday, 19 May 2010

Man who predicted credit crunch warns on 'vicious' debt crisis

City Wire- Black swan author Nassim Taleb says the world debt problem is worse now than at the height of the credit crunch and investors should ditch equities and US Treasuries and back hard assets.

In an interview with Bloomberg the New York University professor who made his name predicting the credit crunch, says that governments have failed to learn the lessons of the banking crisis, allowing the debt problem to morph into a new and more ‘vicious’ form. more


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