- Years of 0% interest rates in the US damaged the economy and created bubbles like bitcoin, Nassim Taleb told CNBC on Thursday.
- “You’re creating bubbles, creating tumors like bitcoin,” the author of “The Black Swan” said about monetary policy.
- Taleb has been critical of bitcoin before, comparing the cryptocurrency to a “contagious disease.”
Years of US interest rates sitting at zero have damaged the world’s largest economy and created speculative bubbles such as bitcoin, “The Black Swan” author Nassim Nicholas Taleb told CNBC on Thursday.
“We’ve had 15 years, 14 and a half years of Disneyland that basically has destroyed the economic structure. Think about it. No interest rates,” said Taleb.
“At zero interest rates … for long periods of time, you are hurting the economy. You’re creating bubbles, creating tumors like