Have a nice day, but wear a hard hat: the sky may be falling.
Such is the gloomy assessment of the U.S. economy by Nassim Taleb, author of "The Black Swan."
"The financial system is crashing and action must be taken by the U.S. government to convert debt into equity to produce a more stable environment," Taleb said in a recent CNBC interview.
"You may have green shoots, whatever you want to call them, you may have temporary relief, but you are still in a world that's breaking," he said.
"We're in the middle of a crash...So if I'm going to predict something, it is that it's going to get worse, not better."
"The government needs to deleverage debt and not try stimulus packages that will inflate assets," he said.
"What makes me very pessimistic is not seeing any leadership or awareness on parts of government on what has to be done, which is deleverage $40 to $70 trillion."
Taleb's implication: the U.S. government is a dangerously addicted debt junkie. "The monkey on our back is debt," he said, and he is not alone in this view of the trillions we now owe.
Mark Gimein, a columnist for The Big Money from Slate, says although Taleb could be wrong, his pessimistic view must be taken seriously.
At least three times previously Taleb made money forecasting market crashes, says Gimein, including the $35 to $45 million he made as a trader when the market collapsed on Black Monday, 1987.
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