Roubini and Taleb discuss the crisis

[karlitotito]

See! A Jew and an Arab, together, agreeing on stuff!! There is a future!!!

[rmondave]

These talking heads persist in thinking that there are plenty of good investment opportunities in a broken financial system.  These morons would go sailing on the titanic if only they could find a sturdy deck chair.......

[rmondave]

Unfortunately the Talking Heads must address the least common denominator of the audience, which is quite low indeed.

[chowder261]

These ignorant journalists are the same idiots that ignored the signs of the crisis. They hate Nouriel because they are scared of bad news which got us into this situation in the first place. Had thet actually listened to them instead of being puppets for Wall Street we might not be in the situation we are now. These are also the same type of journalists who will be telling everyone to invest before the next collapse.

[arentolfinance]

Nouriel and Nassim must be listening to these reporters and thinking, "Can I go home now? These people are idiots.".

[potdolphin]

idiots reporters

[Lydiamolloy]

I do not claim to be smart and practically retarded on the topic of economics....but these two guests are bright lights...

[vlodko62]

Wow - the difference between the intelligence of Roubini and Taleb on the one hand, and the vapid stupidity of the TV personalities is incredible.

I'm glad I don't have access to television, including CNBC. It would only make me stupid.

[CosmicAnthem]

Infinite stupidity of journalism with ROCKSTAR MORONESS.

[redarrowhead2]

black swan Oo who the fuck comes up with these names

[g06c1396]

I thought that NNT was exaggerating the stupidity of some of these journalists - clearly he wasn't. I don't think that they even heard a word that Taleb said.

[labartic]

roubini is a fucking scumbag liar. that or a moron.

[dojufitz]

its complicated and it takes time to explain it.....

la la land tv has NOT time

- the system is broken -

Nassim is doing his best but the journos just want a sound bite.....

where do i put my money......blah......

[bonfirejovi]

these guys are idiots, "cash is king"?. gold at $1300 baby!

[WickedWind6]

S3760 - A bill proposed by Democrats - The agenda is to push for the US government to eventually confiscate all assets in private Individual Retirement Accounts (IRAs) and 401K plans. The Obama administration is desperate to get its hands on private assets to help cover soaring budget deficits, and this is the largest and easiest piggy bank that could be seized. At the end of 2008 that there were $3.613 trillion of assets in IRAs and $2.350 trillion of assets in 401K plans.

[Seasass]

Translation of what Roubini and Taleb are saying to these clowns: "we are not going to give you investment advice because your short-term, self-centered mentality is what f----d up the entire system in the first place!"

[60TO64]

@Seasass LOL thanks for the translation

[pretorious700]

You can tell when someone is really stupid by the questions they ask.

[acrobat741]

Comment worth repeating, learn to LISTEN you dumb f% journos.

Quote:

These vapid CNBC cheerleaders of self promotion appear retarded in the presence of the brilliant Roubini and Taleb.

[elzepeda]

that journalist with the black glasses is the biggest moron ever. Do they hire people at CNBC on a negative IQ scale or something

[IMD]

We live in a complex system that delivers extreme deviations. Current risk management and economic analyses methods fail us in such a system because of low predictability. What should we do in such an environment? At the IMD OWP 2010, Nassim Nicholas Taleb will present simple rules (lower leverage, less reliance on deficit spending, less mathematical risk management) for a black swan robust economic system.

[Torrriate]

Talking of JOURNALIST, almost EVERY SPECIALIST is a PAID PROSTITUTE. Look at LAWYERS or ENGINEERS. They do what they learnt. They got the know-how and the skills. And sometimes they're even gifted. But barely any of our highly qualified members of society has deeper insights into our systems, in terms of sustainability. "Go for goal" is the motto, instead of "money ain't nothing without sustainability", or a "good job requires a good amount of time". Idiots all around. Taleb for president!

[TheCachito88]

i can't still believe that this idiots have the idea of interrumpting this two monsters, they should just shut up and listen.

[simply2ghetto]

@TheCachito88

Especially Maria - O this woman gets on my nerves so much. She given them no respect, can't believe she is taken seriously she is as dumb as a door knob!

[jackdav34]

@simply2ghetto I agree with u 100% on maria.

[pgbollig]

I thought the comments here would be unfair to CNN, but they aren't. The CNN folks come off as complete idiots.

[ojsbklyn]

Those poor CNBC talking heads make fools of themselves every day. Check out the video where Paul Wilmott is interviewed. Just embarrasing.

[24Cenac]

Given the context, the status of the guest, very strange and- collectively- outrageous journalism!

[uhaegde2wiceover]

Rule number one: Don't repeal Glass-Stegall.

[uhaegde2wiceover]

This is nothing special. Journalists are paid prostitutes made to tout the counterfeit and paper being circulated today. What truly amazes me is how they can even debate any of this. It quite sickening.

[Berialavrenti]

no need anymore to take cfa exams!

[Evasius]

just remember that when you interview someone smarter than you, and you feel you must interrupt their reply - do it LOUDLY and ALL AT ONCE so they look slightly less intelligent. Very important in American 'journalism'

[dmv92117]

The scary thing is all of these "journalists" are taken straight from the floor of Wall Street. They are chummy with all of the fund managers, etc. and they ALL think the same way. And Michelle just needs to take her shirt off and shut the fuck up.

[Iceman22742]

Wow, these folks are DENSE. The words just bouce off, almost dismissive. We're in trouble folks...big trouble. No one is listening to the poeple who know what they are talking about. Prepare for the worst.

[vorotnikova]

Dennis Neal, you are an idiot!

Here is a metric for you:

- 100% chance and follow through on booting out Bernanke. That's a great metric mentioned by Mr. Taleb!

[ridewave444]

Roubini and Taleb must feel like they're talking to the most ignorant fuckheads in the world. What worthless pieces of shit most of the people on CNBC are. Horrible network. They're so weird in how they constantly lick the Wall Street ass. These so-called interviewers are even more annoying than the stupid female and male ditzes on "news" networks like MSNBC, because they're also so god-damn money grubbing. Pathetic.

[pronghorn4]

God, what impertinent morons those "interviewers" are - rude and impertinent. Stupid, stupid people - Gates lines up but these people virtually ignore them and don't understand a word they are saying.

[bayes888]

Ditto. I watched then read your post and thought it was spot on.

[sysopkc]

How insulting, Ive never seen such dismissive, condensending interviewing. Wow... Im pretty suprised.

[ametller35]

CNBC needs to do a better job getting people who can ask intelligent questions- these guys obviously haven't read Taleb.

[mustang607]

Ron Paul saw the crisis coming and he is in government. A lone voice of sanity.

Socialism always fails.

Free Markets always succeed. We should try it sometime.

[YouriCarma]

Shut Up bichez! How did these get their job anywayz? Suck it bich, I quess.

These, Nouriel and Nassim are dead on!

[didgeHague]

"Do I hide my money under a matress?"

"..I'm not here to give immediate investment advice"

too right! The interviewers seem to be more interested in making a quick buck!

[didgeHague]

The interviewers seem more interested in asking questions than listening to the answers.............

[laurentpacalin]

Of all the characteristics that define economic activity, connection is the most important. Institutions considered too big to fail are in reality too connected to fail. The web of interdependencies linking Wall Street to Main Street, can be the economic systems greatest vulnerability. Job No. 1 for leaders of the worlds financial institutions and market-regulating bodies is to design the architecture of systemic connection to assure strength.

Laurent Pacalin

CMO at FICO

[modelmark]

the logic of Roubini seem to be:'we are run into the ground by incompetent government officials, so let's nationalize the banks so they are run by incompetent government officials.'

Btw I don't think government is incompetent, they take halve of people's life by force and there is not a thing these people can do about it. They are mostly not even aware they are live stock and even attack people pointing that out.

Roubini is intellectually justifying more confiscation. He will be rewarded.

[afendiamir]

Nassim is trying to explain the idea of "conflict of interest" to these idiots, and they don't get it lol.

[sysopkc]

Its amazing its like he's talking to a brick wall. I agree

[whitato1]

This show tries to take Nassim and Nouriel into some kind of quantitative answer the current crisis. I am convinced most of these interviewers haven't a clue about what the real issue - debt and the Teflon Bankers that have decade after decade evaded prosecution and get bailout moneys with bonusese!

[veegta83]

Roubini and Taleb are giving a technical analaysis. The idiots asking questions want a quick solution.

Is this a serious news show or are they on a Saturday Night live kind of show. This a disgrace

[veegta83]

The presenters are moron. The woman is absolute bimbo and the young guy is a fool. They are acting so childish. Like they are interviewing Pais Hilton or Federline?

If Bill Gates has to queue to hear them speak. This muppets should show some respect!!

[antonisprotopapas]

nassim u rock man

[neglesaks]

Are all TV talking heads as airheaded as this bunch?

[yyba1]

Easy. Easy. The confusion with the media in focusing on metrics, to optimize position(s) is to be expected. What's missing is the CONTEXT; and that is that a massive asset "reallocation" process that has begun. And why and where its leading us nobody knows.

And so all are out of the market in general and financials in particular.

Hard to predict, high consequence and irreversible change; in a word TRANSFORMATION of the world economy, this is the "black swan" .

Try Jerusalem, YYBA

[jojodesal]

@neglesaks yes

[jabmalassie]

They all knew about the risks. What a lie.

I knew about the risks in 2003 because an annoying friend kept on emailing me all this doom and gloom stuff. It was all over except on mainstream news.

[tatura1]

Who is this Roben Farzard guy? The guy is a total tool!!! Saw him in an interview with Marc faber where his performance indicated that the only person living in a fantasy world is him!! My vote is for Roben Farzard the "Wizard of Oz", to educate himself on how the world economy got into this prolem (nb:Excess leverage), and not ask others how to get out of a hopless situation, but how does he think we do it!! Wave his maji wand and make all the bad things go away I guess. What an idiot!!!

[preferredstk]

The CNBC analysts are totally clueless. Always asking the question, "well, when will we see the turnaround, what do you look for that will signal the turnaround". What a bunch of idiots, its the reason I do not pay to watch CNBC.

[kissumak2]

I have to add that Roubini and Taleb degraded themselves by having a discussion with those idiots

[phiddler3]

The CNBC "analysts" are retards, as are most in the media. However, the guests just hint at the cause of the crisis--the black money-hole of socialism that is destroying wealth. ( Also, one is naive if you don't think a portion of bailouts is going back to politicians.)

People "in the know" protect their investment knowledge as there is no advantage in telling other people. Most of the ones who get paid for their "knowledge" are fakes--(Merrill Lynch, Bear Stearns, etc.)

[skorch31]

Wow... Roubini and Taleb make so much sense and I want to hear more from them! Too bad the anchors kept interrupting.

[lvmfah]

skorch31 - You like people who make sense. Let me suggest Peter Schiff.

[mfsgy102]

The CNBC analysts are worse than retards, the guy who says bankers remuneration is not the problem should be shot..... "these things happen" What?? The female anchor is a joke, she clearly knows nothing. You cannot use backward looking metrics to predict turning points in markets, understand cause and effect you fools. They have exactly the same attitude and misunderstanding of markets which caused this mess.

[KonaChuck22]

These vapid CNBC cheerleaders of self promotion appear retarded in the presence of the brilliant Roubini and Taleb.

[buffalobirdie]

Nouriel has the cutest smile. Like a little boy.

[stereo864]

Wha name does Nasim give for who is responsible? I can't catch it.

[jbarriga76]

Agree, these was the best example of why you should not have 5 people interviewing two...and for sure Taleb and Roubini are not showing up on CNBC any time soon

[nykayaker]

Good God - these interviewers are just morons. I can only hope CNBC follows some of these banks into bankruptcy!

[WilliamTGeorge]

You commentors have nailed it! The CNBC "interviewers" really showed their shallow stupidity and inability to listen and reason. You must forgive tham for using phrases like "actionable metrics" though the culture of Wall Street loves such gobblety-gook phraseology.  Another thought , when all the parents stop financing their offsprings' college education by refinancing their home the cost of college might go down a bit. It's an auction market.. Not to worry . . .

[uturniaphobic]

Taleb nailed it down IMHO. the culprits must GO!

But asking a thief to convict and then execute him/herself won't work either. Must be nice to be the criminal and the court ....can't see how that would ever end.

thanks for the vid!

[georgechris666]

Exactly the same situation on the Kudlow and retards show which I believe is, thank God, modified or off the air. These same people including Kudlow would disrespectfully shout down any guest who had an opposing view. CNBC is just a frontline for Wall Street. I quit watching

[FantasmaBAnco]

These journalists are all really fucking annoying!

[PSmithFortyTwo]

'Journalist. Ha!' There's a term from the past. Hasn't been seen in the US or allowed to publish any real story for eight years (at least). Sy Hersh excepted; occasionally.

Those were clowns. 'Soundbite clowns' which are the regular clowns' even-more-useless-cousins.

[sureseam]

Having said that Bill Gates etc waited in line to listen to these two - the journalists then proceed to shout them down!

At some points they couldn't even recall the names of their esteemed guests!!!

If I were overseeing this, I would fire the lot of them.

If I were either of the guests, I would give that CNBC a wide berth; until and unless a credible, competent interviewer is found.

Having said all that - both guests were very gracious and polite.

[RakeRocter]

yeah, from the opening - these journalists are a joke. the bit about gates and dell lined up around the block: freaking ridiculous. they all should be sacked. interrupting, shouting: "how is this actionable?!" "give me one metric!" "what's in your portfolio?!" trying to sound sure of themselves, and like they're on the same level as their guests. yeah it is annoying as hell.

[zhengiszen]

wtf those "reporters"

[riddler03]

All but the two guests should be shot in the back of the head....with their families watching.

[mpleportals]

All your comments are just hillarious! Journalists are today's jokers (or clowns)

[shamgod411]

I agree with everyone. What a shameful performance by CNBC. "Nick! Hang on a sec with all this doom talk! Should I buy Google?"

[nocheenlatierra]

Michael Dell and Bill Gates were lining up for a standing-room-only chance to hear these guys speak, and yet these pseudo-expert talking-heads at CNBC interrupt them with their retarded comments every 30 seconds. You need to learn how to listen! Roubini finally realized he just has to talk to the viewers and ignore these morons and their interruptions.

[mainteg2004]

I am really starting to believe that GE orders the hosts on CNBC to stay on message. That is, to ridicule anyone with these pesky facts and fawn over anyone with happy talk, especially sponsors.

Roubini is a higher life form than these hosts.

[mrzack888]

rofl

[motonegros]

Where does CNBC get these fucking morons?

[Weaseldog2001]

They are made by Mattel.

[seantube21]

Agreed. The CNBC talking heads were pretty rude in this interview. They don't want to hear anything but that the stock market is going up, that housing is contained, that Goldilocks is right around the corner, etc. They are likely pissed that GE "the parent company of this (CNBC) network" is headed to single digits due to it's financial operations/shenangians over the years. CNBC is mostly unwatchable due to their perma-bull bias.

[5uper5tring]

The Truth

[hubbubbob]

These anchors are not only idiotic, but they're downright rude.

[mutatron]

This is so frustrating. Here we've had 8 years of Bush squandering opportunities wherever they arose, and now it looks like more of the same with Obama. People need to think of this not as a a downturn but as an opportunity to fix everything, like what Taleb is saying.

I also think it's interesting that a Turk and a Lebanese are almost the only guys with celebrity status who are able to see what's going on with the US economy.

[MrFlesh]

Anyone notice how the reporters are not asking important questions? Instead they are playing damage control, claiming that these guys have rockstar status. gates and dell are paying attention with morbid fascination, like these two analysts are like Marilyn Manson.

Listen to the reporters try to put the "think positive" spin on what these two are saying. They constantly interrupt them any time they start to point to the facts that back up their positions.

The collapse will not be televised.

[csoh1968]

My GOD! These news people are idiots asking the stupidest questions. What a disgrace!!!

[yugsnave1]

"yeah yeah yeah, whatever... but how can i make some money Nouriel/Nassim? which stocks du think are gonna go up n make me some money (without doing any real work, as usual)?" Er...answer you don't. Doh. jesus! those hacks are so up their derrieres n so narrow-minded. if this is the caliber of people who work on Wall St its no wonder they screwed up.

[montyks]

All you commentators are the only thing that keeps me sane after watching this type of "interview".

Yugsnave1 you hit the nail on the head. All these dipshits want to know is how can i make fast, easy money? They are too thick to a) listen, b) process what they've heard, c) realise that THEY epitomize the problem.

That "actionable" / "metrics" twat has read too many "earn your mba in 7 days!" books and never spend more than 2 mins thinking about anyone but himself.

[tenisprofeta]

Are those journalists stupids by nature or they are just taking classes?

[oskarshapley]

"compensation doesn't amount to one million of the losses"

That guy is a serious idiot. His whole argument is bunk, no matter what percentage of the losses compensations are. He shouldn't be shouting like it's the divine truth.

[beerzie]

My god, the talking heads in this video just make fools of themselves. They are totally clueless and Roubini and Taleb are SCHOOLING them.

[jaspersoda]

Yep, the media sock puppets solidify the stupidity and ignorance of the greater general public aka the sheeple.

Um isn't Britney doing something worth blathering about? sheesh these media morons are sooooo pathetic, talk about AHAD.

[Chick6517]

well i have to say that it is really cool to see there are people with alot of time on their hands to do videos of some crazy funny stuff.

[mycroftc]

Journalists and media personalities need to spend more time reading and thinking (less talk). The eyeball chasing soundbites and simplified "3 things" mentality is one of the main reason why general intelligence has suffered in spite of growth in media. Journalists are perpetrators of narrative fallacy (Taleb's term) and should not be trusted too much. These talking heads are for entertainment not enlightenment.

[al8as]

ARE YOU LOOKING AT SOME METRIC NOURIEL? Wow, what fucking dumb shit interviewers. Are they deaf?

[vikramkrishnan]

the interviewers are just plain stupid, wish they would listen for a chance

[Lazyeyewitness]

"How is this Actionable"? How about he puts it up his ass...

[pbrsquad]

Jesus Christ, can the reporters just shut up for a second and let the men speak?!?

Obviously, Roubini and Taleb know what they are talking about, so let them talk and STOP INTERRUPTING.

That woman reporter makes me want to stab my eyeballs every time she opens her mouth.

[FGTBOGSAT]

Michele Caruso is well endowed.

[foodfeedfuel]

There is such a lightyears gap between journalist's stupidity and Roubini & Taleb's brightness...

[Zeldovich]

Yes, and while jim Rogers, Peter Schiff, Marc Faber, etc. are entertaining to listen to at times, Roubini is more realistic, because he recognizes that given human nature (mostly risk averse) and deleveraging, some government response is required to counteract it. It is productive to do so, but only in targeted ways and then only to a point..

[GeorgeLee]

LOL. Moronic newsroom clowns vs Two world-renowned, brilliant scholars.

[redcr8]

It's embarrassing to watch!