ArmInfo. Don't believe the headlines that the world is facing instability because of Ukraine, Gaza or China. Today, the biggest risk is the situation in the financial markets associated with a possible collapse in the overvalued US real estate market and in connection with the huge national debt accumulated by Western countries. The famous American essayist, economist, futurologist and risk manager, Ph.D. Nassim Taleb, known for his philosophical and economic bestsellers: Black Swan and Antifragile, says.
Note that in his books Nassim Taleb forecasted both the global financial and economic crisis of 2008 and the (coronavirus) pandemic in 2020.
Speaking at a press conference in Yerevan, Mr. Talleb noted that today it is very important to be able to accurately forecast the situation in order to understand whether countries are able to withstand the coming storm, whether businesses can withstand this bad weather.
Speaking about the debt threat to the stability of the world's financial system, Mr. Talleb noted that the debt burden of Western countries is constantly growing and, moreover, interest accumulations for previously assumed obligations by countries are growing. "And it's like a storm that cannot be stopped, at least I don't see such possibilities. And when they tell you that the main risks are associated with Ukraine, Gaza or China, this is not entirely true," the philosopher-economist noted. In this regard, from the point of view of the theory of antifragility, Mr. Talleb believes that today it is necessary to make accurate forecasts, since a lot depends on their accuracy, "after all, if you have a huge debt, but you are economically strong, then you are not afraid of crises. By being guided by correct forecasts and being financially stable, you can strengthen your antifragility and ensure stability," Nassim Taleb emphasized.