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Is Our Society Delusional?

One of the greatest causes of the myriad of bubbles, one of the underlying problems of our modern society, is the delusional thought that goes into our financial and other products. Here are some examples.

Sales Before Production. Marketing "hypes" a great new product, before it can be produced. So it is rushed into production to satisfy "demand." The result is piece of junk that sells well the first time around, and has no repeat buyers.

Paper Before Production: Is there any reason why the notional value of derivatives is several times the value of GDP? Someone must have really taken the grade school "cancellation" lesson to heart; that you can bring a complicated fraction down to its least common denominator by "cancellation." Except that you sometimes can't.

Wealth Before Commonwealth. What is good for Goldman Sachs (NYSE:GS) is good for America. Fifty years ago, the equivalent saying was, "What is good for General Motors (NYSE:GM) is good for America." And we know how the latter ended. GS or GM, it is imperative for a few people to get rich, so they'll take the rest of us along. Yeah, right.

The Stock (or Real Estate) Market Always Goes Up. As if we've repealed the laws of financial gravity. The writers of "Spinning Wheel" understood better: "What goes up, must come down."