JMc

In the Midst of an Extreme Black Swan (Part I)

But it was foreseeable and there were numerous warnings. Rather than a Black Swan, it is more a case of the Emperor's New Clothes where con men convince everyone that if they could not appreciate the con men's new fashion garments - it was because the viewers were mentally or morally limited. Just like Wall Street said that if you couldn't understand the elegance of their securitization models, it was a failing in you not the models..