These are genuinely fascinating times to be an investor. Markets seem to be going through a generational phase shift, and not necessarily for the best. I see a culture that is leading itself away from prosperity and towards the abyss, and I’m helpless to stop it. My emotions run the gamut watching events unfold, oscillating between indifference and unbridled rage. I can end up in a dark place. “Just burn it all down!” I think at times. It turns out that I’m not alone, though frankly, I wish I were. While my nihilistic outbursts seem justified, they’re just as harmful as the culture I’m repudiating.
In my last article, I postulated how the ideology of postmodernism permeates financial markets. I see it manifesting as heavy-handed regulations, endless interventions, and a neurotic obsession with markets’ continual rise. Here, I will comment on the reaction to this, which I see as nihilism. To be sure, I believe postmodernism’s influence on markets is negative, so I’m sympathetic to this opposing view. However, the perceived antidote may be just as dangerous as the poison…CLICK for complete article