Comments on: UPDATE – WHAT LARRY SUMMERS FORESAW. http://philipschaefer.com/2008/01/04/update-what-larry-summers-foresaw/ Theories, observations, and articles Wed, 08 Feb 2012 21:57:21 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: PRICING FAT TAIL RISK. | Pater Familias http://philipschaefer.com/2008/01/04/update-what-larry-summers-foresaw/comment-page-1/#comment-9695 PRICING FAT TAIL RISK. | Pater Familias Fri, 16 Dec 2011 03:26:41 +0000 http://philipschaefer.com/2008/01/04/update-%e2%80%93-what-larry-summers-foresaw/#comment-9695 [...] Taleb says that we always did, that the markets simply didn’t recognize that we did. I posted here about how one of my first posts on this blog (some five years ago) reported that Professor Larry [...] [...] Taleb says that we always did, that the markets simply didn’t recognize that we did. I posted here about how one of my first posts on this blog (some five years ago) reported that Professor Larry [...]

]]> By: Philip http://philipschaefer.com/2008/01/04/update-what-larry-summers-foresaw/comment-page-1/#comment-810 Philip Mon, 07 Jan 2008 15:36:33 +0000 http://philipschaefer.com/2008/01/04/update-%e2%80%93-what-larry-summers-foresaw/#comment-810 I agree that there are a lot of risks out there, some of which haven't hit yet. I thought that Summers identified a particular variety of risk, that financial instruments that markets thought were unusually safe, were in fact, risky. I agree that there are a lot of risks out there, some of which haven’t hit yet. I thought that Summers identified a particular variety of risk, that financial instruments that markets thought were unusually safe, were in fact, risky.

]]> By: Dick Weisfelder http://philipschaefer.com/2008/01/04/update-what-larry-summers-foresaw/comment-page-1/#comment-807 Dick Weisfelder Fri, 04 Jan 2008 15:51:05 +0000 http://philipschaefer.com/2008/01/04/update-%e2%80%93-what-larry-summers-foresaw/#comment-807 Remarkable foresight? There had been articles about the "housing bubble" long before Summers piece. Paul Krugman has been warning for years about a variety of risks in the system, such as unregulated hedge funds. Not to demean Summers or Schaefer, but the risks of huge US budget and trade deficits, the crisis of confidence in US foreign policy and rampant instability in oil producing states should have put up red flags long ago! It reminds me of the post-1968 pattern that I commented on last week. Remarkable foresight?

There had been articles about the “housing bubble” long before Summers piece. Paul Krugman has been warning for years about a variety of risks in the system, such as unregulated hedge funds.

Not to demean Summers or Schaefer, but the risks of huge US budget and trade deficits, the crisis of confidence in US foreign policy and rampant instability in oil producing states should have put up red flags long ago!

It reminds me of the post-1968 pattern that I commented on last week.

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