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"That's What I'm Worried About Most Right Now":

• by Tyler Durden

Verbal acrobatics about the redundancy of defining an event as a "black swan" (yes, yes, it is by definition impossible to predict the unpredictable, we get it) aside, yesterday Steve Eisman, the infamous star of "Big Short" subprime fame, said that while he is not worried about the American financial system saying it is sound and that there is little risk of a systemic crisis like the one he effectively bet against more than a decade ago, he revealed that his biggest fear right now are the Hong Kong protests, which he says could endanger any kind of trade deal with China and hurt the global economy.

And yes, he called them a black swan: "I think the potential black swan, if there is a black swan right now, is what's happening in Hong Kong right now," said Eisman on CNBC's Power Lunch. "If things escalate even further in Hong Kong, that would have a real impact back on the global economy."

He is right, of course, only whereas Black Swans are events that nobody can anticipate, and thus when they arrive they shock the world, the risk of an insurrection in Hong Kong - as well as its potentially dire consequences - has been obvious to anyone following what we previously dubbed "the potential epicenter for the next global crisis."

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