The financial system is crashing and action must be taken by the US government to convert debt into equity to produce a more stable environment, Nassim Taleb, author of "The Black Swan," told CNBC Thursday.
"You may have green shoots, whatever you want to call them, you may have temporary relief, but you are still in a world that's breaking," Taleb said on "Squawk Box."
Anything that's fragile like the financial system will eventually crash, he said.
"We're in the middle of a crash," Taleb said. "So if I'm going to forecast something, it is that it's going to get worse, not better."
The government needs to deleverage debt and not try stimulus packages that will inflate assets, he said.
"What makes me very pessimistic in not seeing any leadership or awareness on parts of government on what has to be done, which is deleverage $40-to-$70 trillion," Taleb said.
"The monkey on our back is debt," he added.
As an example, Taleb said banks should not be sending demands for larger and larger sums from homeowner in arrears on their mortgage. Instead the bank should offer to lower the monthly payments in return for part-ownership of the property.
"People would be able to start from scratch on a healthy basis. You don't want to wait for foreclosure," he said.
Source: CNBC
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IN GOD WE TRUST
FATHER GOD SEND REVIVAL, AND LET IT START WITH ME"
I Do pray For Gelao of China . In The Name Of Jesus Christ, & Pray for CANADA Please In The Name Of Jesus Christ.
Jesus gave special attention and care for the people he met along his life journey. If you are in need of some special care, Jesus Christ and his Church are there for you.
In Matthew 25:31, Jesus demonstrates his compassion for individuals in need when he speaks of the importance of giving care to the stranger, the sick, and those in prison. The Church has been sent by Jesus to minister to the needs of those who were hungry, thirsty and naked. "As you did it to one of the least of these who are members of my family, you did it to me," Matthew 25:40.
In The Name Of jesus Christ I Pray For, Parents, Parents of. Young Childrens, Teens, Older Teens and Young Adults
Pray for Denmark, & China, & German , & Pray For USA. In The name Of Jesus christ. Pray For All USA Mothers. & Daddys. & Grainmama & GrainFathers To Get Save In The name Of Jesus christ. As there Saver
Pray For Iran In The Name Of Jesus christ.Prays for President Obama and Wife, & Children’s and his new administration. Your efforts will work powerfully in our nation. In The Name of Jesus Christ
Pray For Israel & Jews… Pray For Mother In Israel. "Brethren, my heart's desire and prayer to God for Israel is that they may be saved"
Pray For USA Mothers, & russians women, Pray For Muslim Women To, Please. Pray For Working Mothers, Pray For Singel Mothers, & Singel Great GrainMother. Will Have Peace in There Heart. Mothers Who Do Not Know U As There Saver Salvation Will Get Saved In The Blood Of Jesus Christ
If my people...
who are called by my name will humble
themselves and pray and seek my face and turn from their wicked ways,
then...
I will hear from heaven and forgive their sin and heal their land.
2 Chronicles 7:14
Pray for Your Brothers and Sisters in Jesus Christ:
The Apostle Paul gives us two prayer examples of what to pray for regarding the Body of Christ in Ephesians 1:15-23 and 3:14-21. Pray these prayers for your Church Leaders, your Brothers and Sisters in Christ, and for yourself.
God promised Abraham He will bless those who blessed him and curse those who curse him. This promise was not only for Abraham, but for all of his covenant descendants - the Jewish people. Pray that our leaders will make the correct decisions to make our country a blessing to Israel. Also, Christians need to pray that the nation of Israel will recognize the Lord Jesus Christ as their Messiah and Savior, that they will have peace and success, and that they will possesses the land that God has promised them. (Genesis 12:2-3, 15:18-21, 17:8, 17:21, 22:15-18, Deuteronomy 30:2-5)
Pray For World Homeless Families. & Please Pray For Homeless Women to… In The Name of Jesus Christ & all There health Problem In The Name Of Jesus Christ
Pray For In The Name Of Jesus Christ
Prays for President Obama and Wife, & Children’s and his new administration. Your efforts will work powerfully in our nation.
Attorney General
—Eric Holder
Secretary of State
—Hillary Clinton
Chief of Staff
—Rahm Emanuel
Chair, Council of Economic Advisers
—Christina Romer
President: George W. Bush
Vice-President: Richard Cheney
Secretary of State: Colin L. Powell
Secretary of Treasury: Paul O'Neill
Secretary of Defense: Donald Rumsfeld
Attorney General: John Ashcroft
Secretary of the Interior: Gale Norton
Secretary of Agriculture: Ann Veneman
Secretary of Commerce: Donald L. Evans
Secretary of Labor: Elaine Chao
Secretary of Health and Human Services: Tommy Thompson
Secretary of Housing and Urban Development: Mel Martinez
Secretary of Transportation: Norman Mineta
Secretary of Energy: Bill Richardson
Secretary of Education: Rod Paige
Secretary of Veteran Affairs: Anthony Principi
Supreme Court Justices:
William H. Rehnquist (Chief Justice)
David Souter
Sandra Day-O'Connor
Clarence Thomas
Anthony Kennedy
Antonin Scalia
Steven Breyer
John P. Stevens
Ruth Bader Ginsberg
Pray For In The name Of Jesus Christ. FINANCIAL:
Banks, lending institutions, insurance companies, mints, gold and silver mining, pawn shops, stock exchanges. Real estate sales, surveyors, title companies,
MILITARY:
Army, Navy, Air Force, Marine Corps, Coast Guard. Shipbuilding, aircraft manufacturing, weapons manufacturing,
THE ENTERTAINMENT INDUSTRY:
Motion pictures, amusement parks, video games, most television programming, zoos, sports equipment, professional team sports,
In The Name of jesus Christ Pray For... Prayer :
1-relational problems
2-parents
3-neighbors
4-youth teenagers, girls , boys... Prayer of Children for their Parents
O Almighty God, you gave us the commandment to honor our father and mother. In your loving kindness hear my prayer for my parents. Give them long lives and keep them well in body and spirit. Bless their labors; keep them always in your care. Bless them generously for their loving care for me. Grant that, through your grace, I may always be their support and comfort, and that, after our life together on earth, we may experience the joy of together praising you forever. In the name of jesus christ i Pray
Amen.
5-healing
6-teens
7-pets
8-friends
9-brothers, sisters
10-churches youth leaders
11-missions trips
12-family
13-cancer
14-depression sadness
15-jail court appearances
If my people who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then will I hear from heaven and will forgive their sin and will heal their land." (NIV)
Pray For Our Youth & Young Adults.In The Name Of Jesus Christ A family that prays together stays together.