Thursday, September 22, 2016

The Entire Economic System 
Is One Big Illusion
Charles Hugh Smith* - America's "Philosopher" .. 38 minutes

1 comment:

Anonymous said...

How Janet Yellen Rationalizes The Most Pervasive Financial Bubble In History

“Asset values aren’t out of line with historical norms.” -Janet Yellen, 9/21/16

“A reliable way to make people believe in falsehoods is frequent repetition, because familiarity is not easily distinguished from truth. Authoritarian institutions and marketers have always known this fact.” -Daniel Kahneman

Janet Yellen has obviously read Kahneman’s work. That’s the only way I can think of to explain what she said about “asset values” yesterday. She hopes that if the Fed, probably the greatest “authoritarian institution” on the planet today, says it enough then people will just take it as fact. …