Mortgage Backed Securities
The Year is 2005. A tiny number of heretics are yelling that the entire economics profession & all major central bankers are wrong.
âThere is no Great Moderation. All the âExpertsâ are wrong. They have built a financial time bomb.â
Q: Would Twitter ban & downrank the heretics?
I was one of them. So was @nntaleb. I remember Nassim being publicly ridiculed by the most prestigious people in finance at Cannes.
@jack: Would @TwitterSafety know that everything was flipped? That the bad guys were the Fed and the Professors. The good guys were the gadflies??
Jack: your team is failing. You are endangering us all by confusing dissenters with safety concerns. Wake up. You donât have the wisdom for Twitter to play god with our ability to talk to each other and suppress heterodox dissent.
This isnât Twitterâs right as a platform.
My 1st paper on Mortgage Backed Security Valuation problems was peer reviewed in 2001. After 4-5 years of constant âchicken littleâ style ridicule at conference after conference, I gave up.
Thank god @nntaleb did not. @jack: your team is out of control.
https://risk.net/sites/risk/files/import_unmanaged/risk.net/data/Investor/pdf/june/technical.pdf
Sadly, My tweets reach my detractors but not as much my colleagues. But no one knows why certain tweets are hidden. Please RT
Cc: @BretWeinstein @esaagar @joerogan @SamHarrisOrg @jordanbpeterson @MsMelChen @benshapiro @clairlemon @cvaldary @seanonolennon @PiaMalaney @timurkuran
"I've never seen anything as bad as the determination of a lot of people to say it's a recession," Krugman said. "It's above and beyond anything I've ever seen." -@paulkrugman
Would you like to talk about the Boskin Commission & the @BLS_gov pretending to move to a COLA for CPI?
Even top economists are struggling to explain perhaps "the weirdest economy" Americans have ever lived through, CNN's chief media correspondent Brian Stelter said. https://www.cnn.com/2022/07/31/media/economy-paul-krugman-reliable-sources/index.html
Would you be interested in discussing an entire field of economic experts laughing for 5-8 years at those of us who tried to warn the world about the impending danger of Mortgage Backed Securities during the âGreat Moderationâ?
Would you be interested in discussing the treatment of George Borjas by economists for pointing out that Immigration actually carries costs & redistributes wealth rather than a miracle free lunch that simply cannot do anything harmful?
Etc. Etc.
Because that is all much worse.
Youâre not being truthful about economics.
Iâm sorry. But at a purely technical level, you are just not being truthful about markets, economics and economists. I say this without an axe to grind as a huge promoter of your earlier work when you were trying to understand the đ.