Wednesday, March 14, 2012
"The Black Swan" author Nassim Taleb Cheers Ron Paul's Economic Platform...
2012 Republican Presidential candidate Ron Paul’s economic platform of fiscal restraint, Federal Reserve skepticism, and antipathy toward self-feeding bureaucracies was praised today by one of the world’s premier risk managers, who endorsed elements of the 12-term Congressman from Texas’ path-breaking ‘Plan to Restore America.’
Nassim Taleb told CNBC that Dr. Paul’s fiscal Mayday in areas such as the threat of an impending hyperinflation tax that will harm low- and fixed-income Americans would further harm the nation’s overall economic standing. Mr. Taleb also said he’s been forced to retreat into stocks, real estate, and the euro as a means of avoiding the forthcoming dire outcome of the federal government’s profligate spending and outsize growth. In doing so, the best-selling author who specializes in outliers such as, for many, the wildly unpredictable financial events of the past few years praised the self-trained free-market economist Paul and said of Paul, “I’m a risk-based person. From my vantage point there’s only one candidate representing the right policies.”
Finally, Mr. Taleb said that Paul is the sole person in the American political landscape that has the courage to take on the Federal Reserve and recognizes that there is no conventional, quick fix to the ruinous financial situation.
“We’re overjoyed that best-selling author of ‘The Black Swan’ Nassim Taleb gave such a ringing endorsement of Ron Paul’s economic policy prescriptions for our ailing economy,” said Ron Paul 2012 National Campaign Chairman Jesse Benton.
“Decades ago Ron Paul predicted the fallout from the counter-intuitive decision-making of policymakers of both political parties. Dr. Paul’s ‘Plan to Restore America’ cuts $1 trillion out of the federal budget in year one, reins in Washington’s intrusion into the national economy, and audits the Fed. If heeded Ron Paul’s plan will bring about sustainable, lasting economic prosperity not seen in a long time,” added Mr. Benton.
For the CNBC video featuring Mr. Taleb singling out Dr. Paul as a fellow economic forecaster, click here. To read the CNBC summary story online, click here.