Bill Mitchell — Those Imbecilic Keynesianisticists are loose – lock up your … whatever!

Nassim Taleb gets the smackdown.

Bill Mitchell – billy blog
Those Imbecilic Keynesianisticists are loose – lock up your … whatever!
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

Branko Milanovic — The importance of Taleb’s system: from the Fourth Quadrant to the Skin in the Game

Interesting exploration of Nassim Taleb's systematic thought and its implicitly evolutionary basis.

Global Inequality

The importance of Taleb’s system: from the Fourth Quadrant to the Skin in the Game

Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International Peace

See also

Branko Milanovic also meanings Hayek's The Fatal Conceit, in which Hayek points to what is now called "bounded rationality" in arguing for a conservative approach that emphasizes the importance of tradition as that which served us well to get where we are. Here is an interest reflection on it.

The Commentator
God, Hayek and the conceit of reason

Jonathan Neumann

Branko Milanovic — Pareto, Taleb and the tails of income distributions

I am reading Nassim Taleb’s Antifragile and then I went back to rereading parts of his extraordinary Black Swan. The Black Swan’s blurb by Daniel Kahneman, “The Black Swan changed my view of how the world works” is fully justified. It will remain one of absolutely indispensable books, a huge epistemological advance. Antifragile is, perhaps, an even more ambitious book because it aims to make systems (including people) antifragile, that is thriving in conditions of (what Taleb calls) “opaque randomness”.  So, it is broader in scope and has a prescriptive part that The Black Swan does not. 

Here I would like to address one of the two themes of Taleb’s that find immediate resonance among people who work on income inequality and globalization: the former one. I leave globalization for another post.

Wonkish.

Global Inequality
Pareto, Taleb and the tails of income distributions
Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International Peace

Daniel Little — Predicting, forecasting, and superforecasting

Issues in forecasting social events versus predicting natural events.

Understanding Society
Predicting, forecasting, and superforecasting
Daniel Little | Chancellor of the University of Michigan-Dearborn, Professor of Philosophy at UM-Dearborn and Professor of Sociology at UM-Ann Arbor

Lars Syll — Newspapers make you stupid: Christopher Lydon interviews Nassim Nicholas Taleb

How the narrative that passes for conventional wisdom gets creates through "the news."

What Taleb doesn't mention is  deep state use of disinformation for propaganda and psy-ops in order to shape a narrative to influence perception (perception is reality) and manage populations by manufacturing consent.

Lars P. Syll’s Blog
Newspapers make you stupid
Lars P. Syll | Professor, Malmo University

Another loser: John Taylor's FX Concepts now pretty much dead as he preached gold, "bought" hyperinflation and followed all the loser Austrian/Schiff views

Kyle Bass, Bill Gross, John Paulson all the other idiots trapped in a totally misinformed view of the monetary system and now you can add to that, John Taylor of FX Concepts, whose once $14 billion fund is down to practically nothing.

And that should be no surprise.

Listen to Taylor on CNBC telling everybody over a year ago to invest in gold because "they're gonna start pumping" and he uses all of the same, incredibly dumb arguments of morons like Peter Schiff, Nassim Taleb, etc.

(Of course, CNBC constantly puts these guys all over their air and that's why CNBC's ratings suck and are plummeting. Hello, CNBC????)

These guys--all MMT detractors--are losing their ass in the current environment. They're so, so, wrong. I, for one, am elated to see them stripped of their money.

John Paulson, Kyle Bass, two "genius" fund managers who are long gold, short Treasuries. LOL!!!

The markets are proving once again that most hedge fund managers are more lucky (or fraudulent) than smart and that's if they made any money at all.

John Paulson's greatest trade (shorting the subprime market) was an exercise in fraud with the help of Goldman Sachs.

Since that rigged trade, Paulson's "genius" bet was to load up on gold and short the Treasury market because he believed that Fed "money printing" was going to create hyperinflation. (Obviously taking his cues from that moron Peter Schiff now.)

And Kyle Bass has been telling us for three years running how the Japanese bond market is going to implode. He keeps betting against the Japanese bond market and, not surprisingly, he loves gold.

And let us not forget some of the other prominent morons like Jim Rogers, Nassim Taleb and of course the biggest loser of them all, Peter Schiff.

These guys are useless, like most of the entire hedge fund community, but we told you that here at MNE a long time ago.

Nassim Taleb unloads

Video at Bloomberg, Nassim Taleb interviewed on Occupy Wall Street, banking, and the future. More about banking than OWS. Taleb's position is quite similar to Warren Mosler's view with respect to banking as a public-private partnership and utility. Taleb looks at the issue from the perspective of risk and accountability. He thinks that the protests are basically about lack of accountability and that by not addressing the issue in a timely fashion, we may be crossed over the line to class warfare, which may be difficult to resolve.