Sclerotic, hidebound institutions optimized for linear stability and permanent growth are simply not designed to adapt to non-linear change and disruption of permanent growth...
If you have been around the markets for any length of time, you can quickly spot the “pigeons at the poker table.” They are the ones that rationalize why prices can only rise, why “this time is different,” and focus only on the bullish supports.
Perhaps that’s why US stocks dipped yesterday - and why the Fed immediately stepped in to widen the range of firms it can bail out. No free-market fundamentalism there, eh?
"Postmodernism’s essentials are the opposite of modernism’s. Instead of natural reality - anti-realism. Instead of experience and reason—linguistic social subjectivism..." Sound familiar?