Open thread, Aug. 17 - Aug. 23, 2015

MrMind

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If [...] another financial crash happens (which again, I think is likely, quite probably before the end of the year)

A side note, but my immediate reaction to reading that was "that's overconfidence", though it's quite possible I'm interpreting "financial crash" more grandly than you intended. If I define it — just to try to be more concrete, albeit still pretty fuzzy — as an event as bad as the 2007-8 financial crisis, I'd put a probability ≈5% on that happening by 2015's end.

(Adding the conjunction that explicitly nationalist and/or communist parties gain power actually wouldn't reduce my probability that much, because that already happens; see the Scottish Nationalist Party winning 56 of 59 Scottish seats in this year's general election, and AKEL's performance in Cyprus's 2006 & 2008 elections.)

A side note, but my immediate reaction to reading that was "that's overconfidence", though it's quite possible I'm interpreting "financial crash" more grandly than you intended. If I define it — just to try to be more concrete, albeit still pretty fuzzy — as an event as bad as the 2007-8 financial crisis, I'd put a probability ≈5% on that happening by 2015's end.

I'm basically claiming that I know better than the market, so I'm surprised you're the first person to call me on it. Rigorous definitions are complicated by the fact that th... (read more)

4gjm11y

It may be worth noting that the SNP is quite unlike the far-right nationalist parties I think skeptical-lurker is worried about. They're a party of the left rather than of the right, they aren't outrageously far to the left (at least by European standards), and their "nationalism" is all about getting out of the UK rather than about keeping out immigrants, throwing out black people, and other such traditional policies of nationalist parties.