As usual with Dylan Ratigan, the cash for clunkers debate evolves quickly into an outstanding discussion of the banks, generational theft, too big to fail, financial regulation and the Wall Street bailouts. Larry Summers is nicely flailed along with Geithner and Bernanke. Taleb criticizes Obama specifically and forcefully, and admits publicly to his own Libertarian leanings.
The central question is how do we create programs that help the economy without rewarding bad behavior. In a familiar refrain, Taleb counters that the core economic problem is too much debt, and absolutely nothing has happened to ameliorate the problem. Bravo.
Farzad correctly points out that the problem is ultimately political. Finally. As I've been screaming about since the day of our launch, both parties are too concerned with the next election to make the right choices about the economy and our 3-decade build-up of debt.
This is an outstanding discussion that I've been saving since its broadcast 10 days ago. If you're pressed for time, begin watching at the 3-minute mark. Endeavor to see this one.