What you are describing is happening not only in finance, but also in most areas of life.
To wit: The triumph of a fantasy narrative over reality!
Consider the success of the “Hot” Kardashians versus the reality of the sad Lardassians!
Consider the success of the Climate Change narrative versus the reality of billions of years of “Weather”
Consider the success of “Celebrities” with millions of “Instagram Followers” versus the reality of Click Farms etc.
Consider the success of government issued fantasy numbers for GDP ,Inflation, Unemployment, etc. versus the reality at shadowstats.com.
Fantasy has taken over almost every area of life!
Finally, let’s look at popular music, where there are almost no performers left that can actually play a Stratocaster or a piano while singing with their own voice!
Here are two links to show how far we have fallen in that arena:
Second is John Lee Hooker with the Muddy Waters Band with the uncut “Boom, Boom, Boom” from the Blues Brother, not on the soundtrack CD: https://tinyurl.com/y5w4ksko
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Rick,
What you are describing is happening not only in finance, but also in most areas of life.
To wit: The triumph of a fantasy narrative over reality!
Consider the success of the “Hot” Kardashians versus the reality of the sad Lardassians!
Consider the success of the Climate Change narrative versus the reality of billions of years of “Weather”
Consider the success of “Celebrities” with millions of “Instagram Followers” versus the reality of Click Farms etc.
Consider the success of government issued fantasy numbers for GDP ,Inflation, Unemployment, etc. versus the reality at shadowstats.com.
Fantasy has taken over almost every area of life!
Finally, let’s look at popular music, where there are almost no performers left that can actually play a Stratocaster or a piano while singing with their own voice!
Here are two links to show how far we have fallen in that arena:
First is Buddy Guy’s cover of “Sweet home Chicago” at Montreux in 1992:
https://tinyurl.com/y5zc59f5
Second is John Lee Hooker with the Muddy Waters Band with the uncut “Boom, Boom, Boom” from the Blues Brother, not on the soundtrack CD:
https://tinyurl.com/y5w4ksko
Justin Bieber to the rescue?
LOL!