Economic Psychology

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Economic Psychology

How and why markets aren't rational. Navigational tips for charting the Bermuda Triangle of human economic behavior.

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Throwing Good Money After Bad
Doesn't anybody ever learn? Can a metastasized greed machine on Wall St., a "for sale to the highest bidder" Congress, and a group of flexian self-promoters in the civilian bureaucracy help Main Street? Heaven forbid. Their help will be the death of us all. This is like asking for a blood transfusion from a vampire.

Wall Street deserves none of our sympathy -- nor do the "regulators" who have let Wall Street's con artists dating back to the year dot (most notably, the Reagan Administration) -- nor do the congress people and senators who have enabled them, bailing them out with OPM (AKA 'taxpayer funds') in return for campaign contributions (contributions necessary to pay incumbent Telco kleptocrats for TV ads and robo-calls).

Money from Wall Street has blood on it. My blood. Lawmakers and their civilian lackeys, from both parties, have let them gouge away at us, despite our best efforts to keep our eyes on the prize. None of these corrupt fools have earned my trust. Au contraire --despair, disgust, and a deep sense of betrayal are the bitter seeds they have sown.

The holy book(s) say: "As ye sow, so shall ye reap." The operating philosophy of the American ruling class bespeaks an entirely different modus operandi:  "As I sow, so shall ye reap."

A return to the original is the only ‘change I can believe in.’ No substitutes will be accepted. 

(I wrote this letter to the Huffington Post regarding a WAPO article entitled:Unemployment plan would change rules on bank bailouts).