Taleb: 'Miracle' Needed to Reverse 'Death Spiral' of Ballooning US Debt
• Nassim Taleb said the US deficit is swelling to a point that it would take a miracle to reverse the damage • He defined the ballooning debt load as a "white swan" - a more probable risk than a "black swan" event • Taleb said the world is more interconnected due to globalization, with issues able to ricochet around the world • He said the US is in a "debt spiral" that's like a "death spiral" due to the political structure • Taleb said "we need something to come in from the outside, or maybe some kind of miracle" to resolve the spiral