Congrats to Nassim Taleb for successfully trolling the entire economically literate world this morning.
There’s a new Bloomberg article quoting him on the Eurozone, but before we tell you what he said, first we want to show you some of the reactions to his comments, since they’re the best part.
Photo: Derek Thompson
And here’s CNBC’s Kelly Evans
Photo: Kelly Evans
And here’s Sky News’ Ed Conway
So what exactly did Taleb say that’s caused everyone to freak out?
Basically, he said that Europe is in better shape than the US because of lower debts (technically true), and the lack of centralization and that a Euro breakup would be no big deal.
A few quotes from the article
“When they break it up, there will be a lot of fun currencies. This is why I am not afraid of Europe, or investing in Europe. I’m afraid of the United States.”
“Of course Europe has its problems, but it’s in much better shape than the United States,”
“The best thing Europe ever did is managing to have members bickering with each other, so you don’t have the big government,”
“Europe is like someone who is ill but is conscious of it. In the United States we are ill, but we don’t know it. We don’t talk about it.”
Well played, Nassim. Well played.
UPDATE: Nassim Taleb blasts Bloomberg for ‘distorting’ his lecture