Be very afraid …

… Taleb reveals unsettling truths | Anirudh Sethi Report. (Hat tip, Dave Lull.)

At the national level, the system is more fragile. One tall tower is more likely to fall in a storm than a lawn of grass. This leads to Taleb’s contention that US federal debt is the most fragile of all, and should be decentralised, because default is unthinkable. Hence, “I’m kind of happy with what’s happening in the US now. We’d like the government periodically to come back with a plan, just like a corporation that has a debt addiction.”