StupidityAndGreed

Nassim Taleb and the Ubiquity of Moral Hazard

The big problem is that people think of moral hazard as some kind of abstract "righteousness". It's not, it is a direct and real consequence of trying to manipulate the economy. The latest manipulations by the Fed cannot simply, and by magic, erase the consequences of previous bad decisions that created an illusion of wealth and lulled Americans into a sense of complacency while their government pursued reckless foreign policies that would have otherwise never have flown. The piper must be paid and trying to create the illusion that this can be avoided will only make the impending collapse of the system that much more catastrophic. Good luck Aholes.