Home » Posts tagged 'Charles Mackay'

Tag Archives: Charles Mackay

Olduvai
Click on image to purchase

Olduvai III: Catacylsm
Click on image to purchase

Post categories

Post Archives by Category

2023: Fourth Turning Meets Mass Formation Psychosis

2023: FOURTH TURNING MEETS MASS FORMATION PSYCHOSIS

“Four things need to exist or need to be in place if you want a large-scale mass phenomenon to emerge. The first thing is that there needs to be a lot of socially isolated people, people who experience a lack of social bonds. The second one is that there needs to be a lot of people who experience a lack of sense-making in life. And the third and the fourth conditions are that there needs to be a lot of free-floating anxiety and a lot of free-floating psychological discontent. So: meaning, anxiety, and discontent that is not connected to a specific representation.

So, it needs to be in the mind without the people being able to connect it to something. If you have these four things—lack of social bonds, lack of sense-making, free-floating anxiety, and free-floating psychological discontent—then society is highly at risk for the emergence of mass phenomenon.” – Mattias Desmet – The Psychology of Totalitarianism

Fact Check-No evidence of pandemic 'mass formation psychosis', say experts speaking to Reuters | Reuters

“Try to unlearn the obsessive fear of death (and the anxious quest for death avoidance) that pervades linear thinking in nearly every modern society. The ancients knew that, without periodic decay and death, nature cannot complete its full round of biological and social change. Without plant death, weeds would strangle the forest. Without human death, memories would never die, and unbroken habits and customs would strangle civilization. Social institutions require no less. Just as floods replenish soil and fires rejuvenate forests, a Fourth Turning clears out society’s exhausted elements and creates an opportunity.” – Strauss & Howe – The Fourth Turning

What is Mass Formation?. And why it's important to understand it | by Dina Osman, CBAP, CAPM | Medium

I recently finished reading Mattias Desmet’s fascinating and illuminating book The Psychology of Totalitarianism, where he examines the mass formation psychosis which swept over the world during the time frame of early 2020 until present day…

…click on the above link to read the rest…

Fourth Turning 2022 — Bad Moon Rising

FOURTH TURNING 2022 – BAD MOON RISING

“Try to unlearn the obsessive fear of death (and the anxious quest for death avoidance) that pervades linear thinking in nearly every modern society. The ancients knew that, without periodic decay and death, nature cannot complete its full round of biological and social change. Without plant death, weeds would strangle the forest. Without human death, memories would never die, and unbroken habits and customs would strangle civilization. Social institutions require no less. Just as floods replenish soil and fires rejuvenate forests, a Fourth Turning clears out society’s exhausted elements and creates an opportunity.” – Strauss & Howe – The Fourth Turning

Coronavirus: Is Germany doing enough to slow the outbreak? | Germany | News and in-depth reporting from Berlin and beyond | DW | 14.03.2020

“Institutions will be increasingly bossy, limiting personal freedoms, chastising bad manners, and cleansing the culture. Powerful new civic organizations will make judgments about which individual rights deserve respect and which do not. Criminal justice will become swift and rough, trampling on some innocents to protect an endangered and desperate society from those feared to be guilty. Expect a loss of personal privacy. Fourth Turnings can be dark times for the free spirit: Just as one kind of official may have new authority to do something for you, another kind—some hastily deputized magistrate—may have new authority to do something to you.” – Strauss & Howe – The Fourth Turning

It’s been almost a year since my annual look ahead at the upcoming year. Last year’s article FOURTH TURNING DETONATION was a big picture overview of where we stood during the thirteenth year of this ongoing Fourth Turning Crisis. I had given up trying to make specific predictions because the twenty-year length of a Crisis period does not lend itself to specificity within a given year. My comment at the beginning of the article was:

…click on the above link to read the rest of the article…

The Dystopian Bubble: George Orwell Meets Charles Mackay

The Dystopian Bubble: George Orwell Meets Charles Mackay

herd mentality

“Threats to freedom of speech, writing, and action, though often trivial in isolation, are cumulative in their effect and, unless checked, lead to a general disrespect for the rights of the citizen.”

~ George Orwell

In early December I asked Jim Grant how to reconcile exuberant financial markets with economic reality that reads like dystopian fiction. He responded,

I’m not sure there’s much distinction. To me, the current form of dystopia is the bubble form. So I think this is the year of the dystopian bubble.

The opening pages of the new decade feel like we’re living through a combination of George Orwell’s 1984 and Charles Mackay’s Extraordinary Popular Delusions and the Madness of Crowds. On the day the 2020 election results were to be certified in the Senate, a mob from the losing side surrounded and actually breached the Capitol. The outgoing president was accused of inciting a riot, threatened with impeachment, and banned for life on Twitter. Despite the chaos, stocks shrugged it all off and rallied to new highs.

The following weekend cover of Barron’s, “The Case for Optimism,” captured the manic side of the dystopian bubble perfectly. Its editorial staff sees a silver lining in practically every cloud:

[T]his is a market determined to march higher, and it’s not about to be derailed—even by historic mayhem in the nation’s capital. Stocks are rallying on the trillions of dollars in stimulus that may only be accelerated under the new administration. A chaotic political season is winding down, while the economy is gearing up for a postpandemic reopening.

Investors need to keep their eyes forward and look ahead to a Joe Biden presidency: to more-predictable domestic policies, smoother trade relations, and additional efforts to revive the economy. Now might not be a good time to own anything defensive.

…click on the above link to read the rest of the article…

 

Bizarro World: The Herd Has Truly Gone MadYou’re not crazy. The world we now live in is

Bizarro World: The Herd Has Truly Gone MadYou’re not crazy. The world we now live in is

Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.

~ Charles Mackay (1841)

Like me, you may often feel gobsmacked when looking at the world around you.

How did things get so screwed up?

The simple summary is: the world has gone mad.

It’s not the first time.

History is peppered with periods when the minds of men (and women) deviated far from the common good. The Inquisition, the Salem witch trials, the rise of the Third Reich, Stalin’s Great Purge, McCarthy’s Red Scares — to name just a few.

Like it or not, we are now living during a similar era of self-destructive mass delusion. When the majority is pursuing — even cheering on — behaviors that undermine its well-being. Except this time, the stakes are higher than ever; our species’ very existence is at risk.

Bizarro Economics

Evidence that the economy is sliding into recession continues to mount.

GDP is slowing. Earnings warnings issued by publicly-traded companies are at a 13-year high. The most reliable recession predictor of the past 50 years, an inverted US Treasury curve, has been in place for the past quarter.

Yet the major stock indices hit all-time highs earlier this week. And every one of the 38 assets in the broad-based asset basket tracked by Deutsche Bank was up for the month of June — something that has never happened in the 150 years prior to 2019.

It has become all-too clear that markets today are no longer driven by business fundamentals. Only central bank-provided liquidity matters. As long as the flood of cheap credit continues to flow (via rock-bottom/negative interest rates and purchase programs), keeping cash-destroying companies alive and enabling record share buybacks, all boats will rise.

 …click on the above link to read the rest of the article…

Mad World

MAD WORLD

And I find it kinda funny, I find it kinda sad
The dreams in which I’m dying are the best I’ve ever had
I find it hard to tell you, I find it hard to take
When people run in circles it’s a very very
Mad world, mad world

Image result for the primal scream

The haunting Gary Jules version of the Tears for Fears’ Mad World speaks to me in these tumultuous mad times. It must speak to many others, as the music video has been viewed over 132 million times. The melancholy video is shot from the top of an urban school building in a decaying decrepit bleak neighborhood with school children creating various figures on the concrete pavement below. The camera pans slowly to Gary Jules singing on the rooftop and captures the concrete jungle of non-descript architecture, identical office towers, gray cookie cutter apartment complexes, and a world devoid of joy and vibrancy.

The song was influenced by Arthur Janov’s theories in his book The Primal Scream. The chorus above about his “dreams of dying were the best he ever had” is representative of letting go of this mad world and being free of the monotony and release from the insanity of this world. Our ego fools us into thinking the madness of this world is actually normal. Day after day we live lives of quiet desperation. Despite all evidence our world is spinning out of control and the madness of the crowds is visible in financial markets, housing markets, politics, social justice, and social media, the level of normalcy bias among the populace has reached astounding levels, as we desperately try to convince ourselves everything will be alright. But it won’t.

…click on the above link to read the rest of the article…

John Law–300 Years On

Most people are aware that historically there have been speculative bubbles. Some of them can even name a few – the South Sea bubble, tulips, and more recently dot-coms. Some historians can go even further, quoting the famous account by Charles Mackay of the South Sea bubble, the tulip mania and the Mississippi bubble, published in the mid-nineteenth century.

The most valuable bubble empirically for the purpose of our elucidation has to be the Mississippi bubble, whose central figure was John Law. Law, a Scotsman whose father’s profession was as a goldsmith and banker in Edinburgh, set up an inflation scheme in 1716 to rescue France’s finances. He proposed to the Regent for the infant Louis XIV a scheme that would be based on a new paper currency.

Law was a somewhat louche character, who in his Continental travels had spent his mornings studying finance and the principles of trade, and the evenings in the gaming-houses of Europe. He was a successful gambler, because of his ability to calculate odds.

Some similarities with the personality of Keynes two hundred years later are striking. Keynes was a mathematician first, and an economist second. Their approach was also similar: see a problem and try to find a solution, instead of seeing a problem and trying to understand why it existed before solving it. Both Law and Keynes felt that sound money was too restrictive for the enhancement of an economy.

Consequently, much of what Law proposed and then enacted in France rhymes with our neo-Keynesian world today. The difference, perhaps, is that when given the opportunity Law seized it, and had ultimate financial and monetary power. He harnessed the roles of a central bank, monopolist in international trade, stock promoter and finance minister.

…click on the above link to read the rest of the article…

Living a Lie

Living a Lie

“Above all, don’t lie to yourself. The man who lies to himself and listens to his own lie comes to a point that he cannot distinguish the truth within him, or around him, and so loses all respect for himself and for others. And having no respect he ceases to love.” – Fyodor Dostoyevsky, The Brothers Karamazov

The lies we tell ourselves are only exceeded by the lies perpetrated by those controlling the levers of our society. We’ve lost respect for ourselves and others, transforming from citizens with obligations to consumers with desires. The love of mammon has left our country a hollowed out, debt ridden shell of what it once was.  When I see the data from surveys about the amount of debt being carried by people in this country and match it up with the totals reported by the Federal Reserve, I’m honestly flabbergasted that so many people choose to live a lie. By falling for the false materialistic narrative of having it all today, millions of Americans have enslaved themselves in trillions of debt. The totals are breathtaking to behold:

Total mortgage debt – $13.6 trillion ($9.9 trillion residential)

Total credit card debt – $924 billion

Total auto loan debt – $1.0 trillion

Total student loan debt – $1.3 trillion

Other consumer debt – $300 billion

With 118 million occupied households in the U.S., that comes to $145,000 per household. But, when you consider only 74 million of the households are owner occupied and approximately 26 million of those are free and clear of mortgage debt, that leaves millions of people with in excess of $200,000 in mortgage debt. Keeping up with the Joneses has taken on a new meaning as buying a 6,000 sq ft McMansion with 3% down became the standard operating procedure for a vast swath of image conscious Americans. When you are up to your eyeballs in debt, you don’t own anything. You are living a lie.

…click on the above link to read the rest of the article…

Olduvai IV: Courage
In progress...

Olduvai II: Exodus
Click on image to purchase

Click on image to purchase @ FriesenPress