Wednesday, June 16, 2010

Nassim Taleb and Nouriel Roubini : Potential for Longer Recession PBS Newshour June 15, 2010

As part of his ongoing series of reports making sense of economic news, Paul Solman checks back in with two economists who remain pessimistic about the chances of an economic recovery to discuss recent market volatility and the possibility of a double dip recession.

NASSIM TALEB, author, "The Black Swan": Exactly. And my idea is twofold, number one, that rare events happen more often, and, two, that, when they happen, they're far more devastating than we can imagine.

, NYU Stern School of Business: Many people had no equity in their homes. Essentially, they had zero down payments, and now prices are falling, so they have negative equity. There will be lots of delinquencies, a lot of foreclosures.

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