from Jesse’s Café Américain:
“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…
In February 1720 an edict was published, which, instead of restoring the credit of the paper, as was intended, destroyed it irrecoverably, and drove the country to the very brink of revolution…”
Charles MacKay, Extraordinary Popular Delusions and The Madness of Crowds
Self-awareness, empathy, and foresight are not, unfortunately, high in the ordered skill set of narcissists.
If Europe had any decency, leadership, and moral courage they would take the US financial system’s car keys, sit them down in the kitchen, pour black coffee down their throats until they sober up, and then arrange for an extended intervention.
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