Post Reply 
 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
MASS DELUSION – AMERICAN STYLE
08-14-2010, 08:42 PM
Post: #1
Rainbow MASS DELUSION – AMERICAN STYLE
MASS DELUSION – AMERICAN STYLE

Posted on 14th August 2010 by JimQ in Economy

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” – Charles Mackay - Extraordinary Popular Delusions and the Madness of Crowds

The American public thinks they are rugged individualists, who come to conclusions based upon sound reason and a rational thought process. The truth is that the vast majority of Americans act like a herd of cattle or a horde of lemmings. Throughout history there have been many instances of mass delusion. They include the South Sea Company bubble, Mississippi Company bubble, Dutch Tulip bubble, and Salem witch trials. It appears that mass delusion has replaced baseball as the national past-time in America. In the space of the last 15 years the American public have fallen for the three whopper delusions:

- Buy stocks for the long run
- Homes are always a great investment
- Globalization will benefit all Americans

Bill Bonner and Lila Rajiva ponder why people have always acted in a herd like manner in their outstanding book Mobs, Messiahs and Markets:

“Of course, we doubt if many public prescriptions are really intended to solve problems. People certainly believe they are when they propose them. But, like so much of what goes on in a public spectacle, its favorite slogans, too, are delusional – more in the nature of placebos than propositions. People repeat them like Hail Marys because it makes them feel better. Most of our beliefs about the economy – and everything else – are of this nature. They are forms of self medication, superstitious lip service we pay to the powers of the dark, like touching wood….or throwing salt over your shoulder. “Stocks for the long run,” “Globalization is good.” We repeat slogans to ourselves, because everyone else does. It is not so much bad luck we want to avoid as being on our own. Why it is that losing your life savings should be less painful if you have lost it in the company of one million other losers, we don’t know. But mankind is first of all a herd animal and fears nothing more than not being part of the herd.”

Continue to read:
http://theburningplatform.com/blog/2010/...d-article/
Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  U.S. is in imminent danger of Banana Republic style hyperinflation Solve et Coagula 0 231 02-26-2012 01:28 PM
Last Post: Solve et Coagula
  The American Economy is "Dead": The Illusion of Economic Recovery h3rm35 0 269 02-01-2012 02:11 AM
Last Post: h3rm35
Information Soros: Embrace Mass Power Centralization In Europe Or Face Another Great Depression Dunamis 0 357 09-18-2011 04:04 PM
Last Post: Dunamis
  American Debt Crisis Online Documentary Weyland 0 283 09-14-2011 09:37 PM
Last Post: Weyland
  The American Dream icosaface 1 337 09-14-2011 09:01 AM
Last Post: thokling
  THE AMERICAN DREAM - THE MOVIE Solve et Coagula 0 230 08-24-2011 02:43 PM
Last Post: Solve et Coagula
  Broke! 10 Facts about the Financial Condition of American Families that Will Blow You rockclimber 8 975 07-27-2011 02:47 AM
Last Post: FastTadpole
  The Great American Bubble Machine Solve et Coagula 4 1,097 05-23-2011 02:07 AM
Last Post: FastTadpole
  Under the cover of night on Friday Obama announced a new NAFTA-style deal with Korea h3rm35 0 349 12-08-2010 09:08 PM
Last Post: h3rm35
  unexpected consequences from duping and abusing American wage slaves... h3rm35 0 326 10-26-2010 02:16 AM
Last Post: h3rm35

Forum Jump:


User(s) browsing this thread: 1 Guest(s)