Smarty_Pants

Current Financial Crisis Is a Black Swan

"the breakdown of our current financial system ..... a black swan ..... rare and improbable events do occur"

Not only do they occur, but people see them coming if they are paying attention. Don't confuse rarity with lack of understanding.

Back in February 2008 Jim Rogers was quoted in Fortune magazine regarding what is unfolding today:

"I'm extremely worried," [Rogers] says. "I have been for a while, but I just see things getting much worse this time around than I expected."

"Conceivably we could have just had recession, hard times, sliding dollar, inflation, etc., but I'm afraid it's going to be much worse," he says. "Bernanke is printing huge amounts of money. He's out of control and the Fed is out of control. We are probably going to have one of the worst recessions we've had since the Second World War. It's not a good scene."

Current events predicted more than 6 months ago, in one of the premier financial magazines of the times. Watching it happen now is hardly what one would call a 'Higly Improbable' event.

"Black Swan events" depend on your point of reference or your lack of understanding regarding reality.

money.cnn.com/2008/01/...