Lack of understanding, or I would say of an unwillingness to heed, clear messages shouted out deafeningly in ears which lay mesmerized to the songs of beguiling sirens, oblivious to their imminent doom.
Reporting on the world economy
"Near-zero borrowing costs are the source of speculation since they allow investors to borrow cheaply in yen and take punts in countries where interest rates are higher."
out of thin air, nothing productive, making huge profits out of nowhere, precariously balancing on glass stilts. Is that the growth world economy relies upon, thrives on? Run by speculators?
Created a world of make believe, a bubble afloat a vibrant world, powered by inertia alone, a direct reflection of the so-called economic forces, and have the affront to be called investors.
Black swans? Not seen, unpredicted, your eye. Your eye has not seen them. You can see what you choose to see. A matter of scope. You choose to ignore, but it is there.
A for randomness let's borrow the words from freakonomics
"I keep writing here and there that my definition of randomness is as follows: incomplete understanding or incomplete information."
and
"So the degree of randomness is observer dependent."
And the point is, you are either in knowledge of your incomplete understanding or the fact of incomplete information, or not. And further a matter of choice whether you acknowledge your knowledge or not.
Flap-strapped around the eyes, like cart-pulling cattle, restricting views of the going-ons in the world, in search for black swans. Might as well be blind-folded. Fail to notice the obvious, unwilling to take heed of even the mythoplasy that spawned the term. Black swans did not appear out of nowhere, they were already there, in Australia or wherever.
Likewise, the black swans of today's world are there, but are not given the attention they demand. It is not that they are unpredictable, it is more like the inability, for the sake of want, to predict the chances their predicted values, in the minds of the world's human individuals, stand to sweep you away, fed up of the hogwash they are fed daily, trivializing lives, unwilling pawns to insane insignificant games.
Insignificant as they offer nothing in fullfiling the aspirations of humankind and insane as they are still allowed to exist.
