>
> jordan can, of course, assess this as utterly irrelevant and the
> sign of a mind gone far too soft for anything resembling logic;
> that's his prerogative. but for my part, beneath all the rump
> long-boom horseshit i detect a *serious* undercurrent of anxiety
> and lack of faith in The System. tax policies are nice and fine,
> and there's no doubt that tinkering with interest rates can pull
> rabbit after rabbit out of the hat, but ultimately that faith is
> what this regime needs to perpetuate itself. and it just ain't
> there.
>
Well, it seems to me it is there, else we wouldn't have "the bubble." It might be a desperate faith, a kind of Pascalian bet, as opposed to some more "real" faith. But it's faith nonetheless.
> do you really think that people were jumping out of windows in
> 1929 because they lost a bunch of money? rubbish. they jumped
> because their worldview--nay, more, their cosmos--collapsed.and
> the beauty of it is, it doesn't really matter how many actually
> did jump, because, when it comes to Culture, quantities cannot
> hold a candle up to qualities; and much as the 'MIA' embodies a
> certain failure in vietnam, the plummeting investor embodies a
> certain failure in finance. that's why i think jordan's analyses
> are so funny. 15%! well, knock me over with a feather!
So when there's a crash, this shows that people's have lost their faith. And when there's a boom (a bubble) that also means that people don't have faith. What gives?
All best Christian