The US is headed for a debt "death spiral" if politicians don't rein in spending, Nassim Taleb said.
"The Black Swan" author said debt troubles will continue if Congress can't"A debt spiral is like a death spiral," Taleb said at an event on Monday.
AdvertisementThe US is facing a "death spiral" as a result of its mounting debt and the inability of politicians to confront the issue, according to "The Black Swan" author Nassim Taleb.
In fact, rising debt in the US is a "white swan," Taleb said, and is an event that poses an obvious risk to markets versus a "black swan" event, which can occur without much warning.
"A debt spiral is like a death spiral," he added.
Persons:
Nassim Taleb, Swan, Taleb, —, Per, Goldman Sachs
Organizations:
Service, Per Bloomberg, Universa Investments, Fed, Investors
Locations:
West, Congress