Sunday, September 15, 2019

Perception and Reality

I feel mute in the contemporary milieu.  Marginalized.  Condemned.  It is Trump's fault.  Or not.  Everything is a reaction to him, I feel, every righteous movement.  If you are at all irreverent or disagree with the new ideology, you are like Trump.  It is Bizzarro World.  Old liberals are not left enough.  They are considered Republicans.  I can't even bring myself to write what I think on my own blog anymore.  It is a viscous, punishing world.

Besides, I got my hair done on Friday the 13th, and it looks like shit.  I look like an old banker or something.  Jesus, why did I go on the 13th?  It will be months before I look anything like myself again.  Or what was myself.

Today, though, I got educated backup for what I've always said.  The economy is based on perception, not reality.  Well, perception is reality.  But Schiller the economist will get the credit.  This from today's N.Y. Times online:

The probability that a recession will come soon — or be severe when it does — depends in part on the state of ever-changing popular narratives about the economy. These are stories that provide a framework for piecing together the seemingly random bits of information that one picks up from friends, the news or social media.

For consumers these narratives affect decisions on whether to spend or save, whether to take a demanding or an easy job, whether to take a risk or stick with something safer. For businesspeople the prevailing narratives affect deliberations on whether to hire more help or lay off employees, whether to expand or retrench or even start a new enterprise.

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