From Wikipedia — Extraordinary Popular Delusions and the Madness of Crowds: (by Charles MacKay)
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one!”
“Of all the offspring of Time, Error is the most ancient, and is so old and familiar an acquaintance, that Truth, when discovered, comes upon most of us like an intruder, and meets the intruder’s welcome.”
If you haven't read this book... it was published about 150 years ago, yet still rings true.
When will the American public (crowds) recover their senses? Wish I knew... but the matters with which we are dealing are truly economic madness.
