It's Out There, But You Can't Handle It
"False opinions are like false money, struck first of all by guilty men and thereafter circulated by honest people who perpetuate the crime without knowing what they are doing" - Les soirées de Saint-Pétersbourg, Ch. I - Joseph de Maistre
From Alan Gula, Canada Slides Into Recession "No one likes to be told that their home is overvalued or that the stocks they own are likely to fall."
We Natter: The human condition has a blinding affinity for lying, to others and especially to oneself. You want answers? You can't handle the truth.
"There's no telling how big the decline will be this time around. But based on the pushback we've seen from readers, it's likely to be far larger than most investors want to believe. Also, hidden leverage and speculation will undoubtedly be uncovered, as usually occurs during recessions."
Naiveté, hope, ignorance and denial. The truth is out there...
Joseph Campbell did marvel about myths, legends and superstitions of the collective. It is the willful blindness which prevents people from seeing through the bigger lies that hold them circumstantially captive.
Just because expectations are being kept "firmly anchored" does not mean that appearances are not deceiving. Ideals, goals, aspirations and dreams can be illusory. i.e. true democracy (government by the people and for the people), true freedom, the American dream (home ownership et al).
Unfortunately, the "perception is reality" paradigm, call it delusional or illusory, has created a misperception of the reality we are truly in and the potentially disastrous results which we may eventually be "faced" with. And it is often the willful blindness of the collective that can be harmful in the extreme.
Salmo Trutta: "There's no such thing as a "business cycle". Rather symbolic. Temporary inventory cycles perhaps."
What do the business cycle, Tooth fairy, Easter bunny, Santa Claus, "free" trade and "free" markets have in common? At some point, through sentience and emotional competency one chooses to acknowledge the truth... all are imagined and supposed for cause, while none truly exist.
Nothing in this world is free. Whether apparent or not, there is always a business cost or societal vigorish, which must be paid. So there is no "free" in "free trade" and there are no "free" markets as Adam Smith's "invisible hand" has been severed for quite some time now.
Free markets and business cycles facilitate amongst other things, true price discovery. Making them the enemies of econometric fraud and market manipulation. So these urban myths cannot be allowed to truly exist and function freely. Why? Through the facilitation of truth in price discovery, and if allowed to operate freely, they would punish bad fiscal behavior and erroneous economic policy by corporations and government.
In an effort to avoid the pain of free market corrections, witness the growing scale and frequency of government, central bank intervention and manipulation. Through the incest of cronyism and tax payer supported bailouts, market supply, production and price in the equities, bond and real estate markets have been genetically manipulated and contrived. There is something in this more than natural.
Rewarding dysfunctional behavior on the part of corporations and government, results in crippled, disabled and "genetically" deficient markets, so we are left with an inbred ramshackle mess. What else would one expect? And this is Darwinism, and Capitalism at it's best? I think not.
The end justifies the means... nobody, makes more money out of thin air than we do. Merger, acquisition, leveraged buyout, debentures, junk bonds, spreads, arbitrage, artificial asset bubbles, all smoke and mirrors with no tangible process or end product needed. Falsity, manipulation and collective willful blindness in all its forms, has led to the zombie economy, dead man walking stock market and non representative government which we suffer from.
Every nation gets the government it deserves - Letter 76, (27 August 1811); published in Lettres et Opuscules. - Joseph de Maistre
If we can see the "unknown known" and acknowledge it for what it is, the more honest we become, and the more true freedom we acquire... "the truth shall set you free".
For more relevant background info:
Atlas Shrugged, Unnaturally
The Man in The Mirror
Capitalism In It's Purest Form, (I Do Like How This Works)
A Severed Hand, Goat's Head and Weeping Guitar
Peak What? Christmastime in Hell Part 1
The Midnight Sun, Part 1
From Alan Gula, Canada Slides Into Recession "No one likes to be told that their home is overvalued or that the stocks they own are likely to fall."
We Natter: The human condition has a blinding affinity for lying, to others and especially to oneself. You want answers? You can't handle the truth.
"There's no telling how big the decline will be this time around. But based on the pushback we've seen from readers, it's likely to be far larger than most investors want to believe. Also, hidden leverage and speculation will undoubtedly be uncovered, as usually occurs during recessions."
Naiveté, hope, ignorance and denial. The truth is out there...
Joseph Campbell did marvel about myths, legends and superstitions of the collective. It is the willful blindness which prevents people from seeing through the bigger lies that hold them circumstantially captive.
Just because expectations are being kept "firmly anchored" does not mean that appearances are not deceiving. Ideals, goals, aspirations and dreams can be illusory. i.e. true democracy (government by the people and for the people), true freedom, the American dream (home ownership et al).
Unfortunately, the "perception is reality" paradigm, call it delusional or illusory, has created a misperception of the reality we are truly in and the potentially disastrous results which we may eventually be "faced" with. And it is often the willful blindness of the collective that can be harmful in the extreme.
Salmo Trutta: "There's no such thing as a "business cycle". Rather symbolic. Temporary inventory cycles perhaps."
What do the business cycle, Tooth fairy, Easter bunny, Santa Claus, "free" trade and "free" markets have in common? At some point, through sentience and emotional competency one chooses to acknowledge the truth... all are imagined and supposed for cause, while none truly exist.
Nothing in this world is free. Whether apparent or not, there is always a business cost or societal vigorish, which must be paid. So there is no "free" in "free trade" and there are no "free" markets as Adam Smith's "invisible hand" has been severed for quite some time now.
Free markets and business cycles facilitate amongst other things, true price discovery. Making them the enemies of econometric fraud and market manipulation. So these urban myths cannot be allowed to truly exist and function freely. Why? Through the facilitation of truth in price discovery, and if allowed to operate freely, they would punish bad fiscal behavior and erroneous economic policy by corporations and government.
In an effort to avoid the pain of free market corrections, witness the growing scale and frequency of government, central bank intervention and manipulation. Through the incest of cronyism and tax payer supported bailouts, market supply, production and price in the equities, bond and real estate markets have been genetically manipulated and contrived. There is something in this more than natural.
Rewarding dysfunctional behavior on the part of corporations and government, results in crippled, disabled and "genetically" deficient markets, so we are left with an inbred ramshackle mess. What else would one expect? And this is Darwinism, and Capitalism at it's best? I think not.
The end justifies the means... nobody, makes more money out of thin air than we do. Merger, acquisition, leveraged buyout, debentures, junk bonds, spreads, arbitrage, artificial asset bubbles, all smoke and mirrors with no tangible process or end product needed. Falsity, manipulation and collective willful blindness in all its forms, has led to the zombie economy, dead man walking stock market and non representative government which we suffer from.
Every nation gets the government it deserves - Letter 76, (27 August 1811); published in Lettres et Opuscules. - Joseph de Maistre
If we can see the "unknown known" and acknowledge it for what it is, the more honest we become, and the more true freedom we acquire... "the truth shall set you free".
For more relevant background info:
Atlas Shrugged, Unnaturally
The Man in The Mirror
Capitalism In It's Purest Form, (I Do Like How This Works)
A Severed Hand, Goat's Head and Weeping Guitar
Peak What? Christmastime in Hell Part 1
The Midnight Sun, Part 1
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