[lbo-talk] a question regarding the future

Sean Johnson Andrews inciteinsight at hotmail.com
Fri Oct 14 11:02:38 PDT 2005

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So the argument is that ideology drives history? I can see it in this case since it seems the same kind of irrationality created the bubble in the first place. Makes sense that it could also make it collapse. But then isn't the real reason for the collapse--at least in these cases--a return of the material world to upset the smooth logic of the ideology? This, of course, would help amplify any change many times over--which makes the new perception a co-determining factor, but in this case, it is somewhat true. So is there ever really a recession that is separate from the results of some mass delusion or does it just become more volotile when you have an institution like the stock market?

-s

----- Original Message -----

From: Steven L. Robinson

To: lbo-talk at lbo-talk.org

Sent: Friday, October 14, 2005 1:00 PM

Subject: RE: [lbo-talk] a question regarding the future

So true. That is why they used to -before the 1930s anyway- call recessions "panics." SR

-------------- Original message --------------

> But it's not just telling you how people "tick": if everybody thinks a

> bank is going to fail and they draw out their money--the bank will fail!

> This gloominess can have real, material effects. That's a strange

> thing about economic issues: if enough people perceive a certain