Wednesday , 21 February 2024

Tag Archives: Nassim Taleb

Europe Has Its PIGS, America Its CAIN and Un(Abel) – Both Will Be Good For Gold

In Europe, they were able to come up with a clever moniker, PIGS, to succinctly represent [and name the countries in dire financial straights - Portugal, Iceland, Ireland, Greece and Spain] the most boorish animals on the farm, and [I have taken it upon myself to call the U.S. state budget crises] the story of CAIN (California, Arizona, Alaska, Illinois, New York and New Jersey), the seven most rotten pillars of our union, and (Un)Abel, the country as a whole, which is (Un)Abel, i.e. unable, to do anything about the impending crises. Given the current political climate and implicit anti-bailout mandate of the new Congress, the Federal government might be powerless to do anything but accept painful state defaults. Before we know it, we could all be ancestors of evil... 2011 could be the year that CAIN starts to face some serious trouble, and may need some serious help to avoid killing his brother (Un)Abel! Words: 1529

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