Nassim Taleb: Genealogy Of The Black Swan
Genealogy of the Black Swan Problem, as developed in Taleb's Incerto (The Black Swan, Antifragile) and Silent Risk.
Nassim Taleb: Genealogy Of The Black Swan
Infographic source: fooledbyrandomness
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It is funny for people to call the last downturn a black swan. It was more like an orchestrated implosion after purposeful deceit at hiding market indicators by the Federal Reserve and through socialist housing policies that blindsided investors and saddled people with huge debt for assets at artificial prices.
The final blast by not defending financial institutions that were encouraged to gamble was as obvious as blowing a hole in a ship's hull and expecting the ship to go down.
The future big implosion will be more of the same. One can't call the result of concerted and obvious market manipulation that is designed to distort the market and encourage mass gambling and asset bubbles a black swan. It is merely the result of evil policies purposely designed to eventually destroy the market in order for the few to benefit from abnormal government or federal reserve policies or monetary transactions that distort the proper functioning of capitalism. One should call them black heart events and do away with the magical mystery surrounding the obvious results of failed policies.