McWilliams: Time to think the unthinkable
If, after four years of printing money, the system isn’t working, what next?
Could oil prices go to $4 a barrel? It seems way off-beam, but last weekend at Kilkenomics, Nassim Taleb, he of The Black Swan fame, suggested in a fascinating discussion about the economics of the Middle East that oil prices are heading downwards. This is no wildcard estimate. This comes from a man who has made a fortune understanding risk and why the rest of us don’t understand it.
Whether he is right or not,...
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