April 2020. In a move that credibly signals a will to push for reform, the European Central Bank starts to reinvent itself. Two brilliant, unorthodox scientists are charged with leading it through the reform process: epistemologist/statistician Nassim Taleb (nicknamed The Black Swan, after his best seller book) and economist Nouriel Roubini (known in some circles as Dr. Doom, for correctly predicting the 2008 crisis). Their mandate is consistent with their thinking: financial institutions should be redesigned for robustness.
Mr. Taleb's contribution lies mainly in getting rid of "bogus" measures of risk used in the past, that are blind to the coming of large unfavourable events (black swans). Mr. Roubini is more concerned in engineering the policy tools that will help the new ECB build its vision. Both scientists agree that
systemic risk should be reduced by lowering the level of debt in the economy (which went up 250% in the period 1985-1998). This translates into deleveraging: the same assets backing much less debt as before
risk should be felt at the level of the lender. Banks and financial institutions who feel they are "too big to fail" and that they can pass on to the taxpayer the consequences of their mismanagement will be inclined to take excessive risks as they purchase bonuses in times of boom. This translates into competition policy, with draconian antitrust measures to brakdown very large groups into smaller groups which can fail without taking down the wh*** system with them.
An announcement from Frankfurt states that Mr. Taleb is going to take charge of the recruitment of ECB staff personally. "Banks have historically tended to hire dull people and try to make them even more dull. That age is over."
The news have rocked the financial world, with City of London bankers specially enraged. Despite this, early market response was appreciative: the euro jumped up 3% after the announcement was made. An ECB spokesman has declined to comment on rumours of connections between the newly appointed chairman and executive director and EVOKE, the mysterious network of social innovators.
The following video, dating back more than 10 years, show Mr. Roubini and Mr. Taleb already in perfect sync with each other.
"I love that you've brought this to attention. An extensive database of uncommon but resistant and hardy plants/foods could be developed and organized by climate. Ease of growth and processing should also be taken in to account. I will try to…"
This past weekend was the annual celebration at the lake house in Connecticut. It is amazing that the lake is still so clear and beautiful after all these years. The watershed association has done a wonderful job protecting these waters from the damaging effects of development.The wood grill was finally ready to cook on, so we didn't miss the propane tank fueled grill anymore. The food actually tasted fresher than in the past and was easy to keep fueled.Dad was very proud of the solar hybrid…See More
In this blog post I will focus on a plant that is abundant in our nature, and which is immensely nutritious. It's of course the Stinging Nettle. Let's start with the chemical constituents of this plant:37 % Non-Nitrogen-Extracts19 - 29 % Ash9 - 21 % Fiber4 % Fat22 % ProteinOnce the leaves are drid, their protein content can reach an astounding 40 %, which is much higher than beef, which even under the best of circ***tances can never exceed 31 % protein. In addition the Stinging Nettle consists…See More
It is 7'oclock, I was late home from work due to an assignment that i wanted to get ahead on. By the time I get home I am feeling extremley tired and I cannot be bothered to make a proper meal. I walk to the fridge and open it to see what there is for me to eat. All of the out of date foodstuffs have been automaticaly thrown away by the fridge, they will be recycled tomorrow as animal feed or something. I see i have organic local eggs and some local cheese. Foods are vacc** sealded for easy…See More
FutureToday is 2020/1/1. It is just like yesterday. The war is still continuing. It has started since 2010. In 2010, that year was a horrible year. Almost every energy ran out. Every country’s governments were crushed down at the same time. There were riots everywhere. All of the big company’s bosses were killed xdeadx in the riots. Troops fought each other everywhere. Food was bought up xawayx at once. There were no more food supplies in any shops. The economy was all crushed down. All the…See More
The exchange works directly for state and public workers and servants. It gives them credit in exchange for the amount of public work they contribute to the community. The more constructive they are based off a base rate the more credit they recieve.