Comments on: The Culture of More: 5 Socioeconomic Bubbles Ready to Pop http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/ In search of a better balance in money ... and in life Tue, 07 Feb 2012 10:47:29 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Financial Bubbles and Fed Policy | Balance Junkie http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-7723 Financial Bubbles and Fed Policy | Balance Junkie Sun, 31 Oct 2010 14:11:00 +0000 http://balancejunkie.com/?p=6622#comment-7723 [...] A couple of months ago, I wrote extensively about bubbles, identifying 5 Financial Bubbles and 5 Socioeconomic Bubbles that may be ready to pop. I defined bubbles as “structurally tenuous entities with nothing of [...] [...] A couple of months ago, I wrote extensively about bubbles, identifying 5 Financial Bubbles and 5 Socioeconomic Bubbles that may be ready to pop. I defined bubbles as “structurally tenuous entities with nothing of [...]

]]> By: No Respite in Diversification | Balance Junkie http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-4152 No Respite in Diversification | Balance Junkie Sun, 15 Aug 2010 18:15:47 +0000 http://balancejunkie.com/?p=6622#comment-4152 [...] been talking about bubbles all week. So far, we’ve outlined 5 financial bubbles and 5 socioeconomic bubbles that could affect your money and your quality of life. It looks like we may have a bubble of [...] [...] been talking about bubbles all week. So far, we’ve outlined 5 financial bubbles and 5 socioeconomic bubbles that could affect your money and your quality of life. It looks like we may have a bubble of [...]

]]> By: Carnival of Financial Planning – Edition #152 – July 30, 2010 « Finance Blog http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-3700 Carnival of Financial Planning – Edition #152 – July 30, 2010 « Finance Blog Mon, 02 Aug 2010 00:06:29 +0000 http://balancejunkie.com/?p=6622#comment-3700 [...] Cents presents The Culture of More: 5 Socioeconomic Bubbles Ready to Pop posted at , saying, “Here are 5 bubbles that have been inflating over the past couple of [...] [...] Cents presents The Culture of More: 5 Socioeconomic Bubbles Ready to Pop posted at , saying, “Here are 5 bubbles that have been inflating over the past couple of [...]

]]> By: Carnival of Financial Planning – Edition #152 – July 30, 2010 http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-3699 Carnival of Financial Planning – Edition #152 – July 30, 2010 Sun, 01 Aug 2010 23:00:54 +0000 http://balancejunkie.com/?p=6622#comment-3699 [...] Cents presents The Culture of More: 5 Socioeconomic Bubbles Ready to Pop posted at , saying, “Here are 5 bubbles that have been inflating over the past couple of [...] [...] Cents presents The Culture of More: 5 Socioeconomic Bubbles Ready to Pop posted at , saying, “Here are 5 bubbles that have been inflating over the past couple of [...]

]]> By: Weekly Review-The End of History Beer Edition http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-3517 Weekly Review-The End of History Beer Edition Sun, 25 Jul 2010 11:22:37 +0000 http://balancejunkie.com/?p=6622#comment-3517 [...] The Culture of More: 5 Socioeconomic Bubbles Ready to Pop @ Balance Junkie [...] [...] The Culture of More: 5 Socioeconomic Bubbles Ready to Pop @ Balance Junkie [...]

]]> By: 2 Cents http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-3473 2 Cents Thu, 22 Jul 2010 23:46:50 +0000 http://balancejunkie.com/?p=6622#comment-3473 I am definitely a Charles Hugh Smith fan. Everything that you wrote about complexity is exactly what I had in mind. My posts are already pretty long, though, and I have to draw the line somewhere. Thanks for fleshing out the concept for me! "no bubbles equals bad economy" That sums up our current economic policies. I'm afraid if we don't accept a little economic contraction now, we may just end up with one really big depression down the road. It's time to pop the "faux economy" bubble and get back to real business. Thanks for your insights and for your kind words! :) I am definitely a Charles Hugh Smith fan. Everything that you wrote about complexity is exactly what I had in mind. My posts are already pretty long, though, and I have to draw the line somewhere. Thanks for fleshing out the concept for me!

“no bubbles equals bad economy” That sums up our current economic policies. I’m afraid if we don’t accept a little economic contraction now, we may just end up with one really big depression down the road. It’s time to pop the “faux economy” bubble and get back to real business.

Thanks for your insights and for your kind words! :)

]]> By: Kevin@OutOfYourRut http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-3471 Kevin@OutOfYourRut Thu, 22 Jul 2010 22:23:58 +0000 http://balancejunkie.com/?p=6622#comment-3471 I'd long suspected you were a Charles Hugh Smith fan! (So am I--Charles is one of the most brilliant minds on the web, maybe anywhere). It's interesting that you list complexity as a bubble. I've thought a lot about the impact of complexity on our society and economy, but never considered that it might be bubble. Complexity seems to have become something of a refuge; if you can make an industry or institution sufficiently complex that the average person has little grasp of it, it becomes a black box that functions independent of reality. I think we're seeing that with government, the legal system, healthcare and even with energy. The complexity not only provides refuge from scrutiny, but since the masses don't/can't understand, it also provides a protected revenue stream. The masses cede funds along with comprehension, assume that "the situation is too complex to be grasped by the average person" and turn control over to those who profess to know. The worse the core economy gets, the more complexity we seem to get, and as we do, we become more accepting of it too. I'd also add that recurring bubbles seem to have become the juice that drives the economy, absent more tangible forces. Booms parallel bubbles, and no bubbles equals bad economy. Speculation rules the faux economy, and creates bubble after bubble. Outstanding post and observations. Your last two posts are in the must read category for sure. I’d long suspected you were a Charles Hugh Smith fan! (So am I–Charles is one of the most brilliant minds on the web, maybe anywhere).

It’s interesting that you list complexity as a bubble. I’ve thought a lot about the impact of complexity on our society and economy, but never considered that it might be bubble. Complexity seems to have become something of a refuge; if you can make an industry or institution sufficiently complex that the average person has little grasp of it, it becomes a black box that functions independent of reality.

I think we’re seeing that with government, the legal system, healthcare and even with energy. The complexity not only provides refuge from scrutiny, but since the masses don’t/can’t understand, it also provides a protected revenue stream. The masses cede funds along with comprehension, assume that “the situation is too complex to be grasped by the average person” and turn control over to those who profess to know. The worse the core economy gets, the more complexity we seem to get, and as we do, we become more accepting of it too.

I’d also add that recurring bubbles seem to have become the juice that drives the economy, absent more tangible forces. Booms parallel bubbles, and no bubbles equals bad economy. Speculation rules the faux economy, and creates bubble after bubble.

Outstanding post and observations. Your last two posts are in the must read category for sure.
Kevin@OutOfYourRut´s latest post ..Should You Give Even If You’re In Debt

]]> By: 2 Cents http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-3463 2 Cents Thu, 22 Jul 2010 17:16:52 +0000 http://balancejunkie.com/?p=6622#comment-3463 There has definitely been a trend of one bubble after another. I guess it's my hope that this bubble of bubbles will end at some point, ideally through a skillfully managed end and not an uncontrolled cascade of popping. Unfortunately, I think we may have already let it go on too long to hope for a nice, gradual deflation. Further, I'm not sure which of our current leaders I would possibly describe as skillful. ;) Thanks for your comment! There has definitely been a trend of one bubble after another. I guess it’s my hope that this bubble of bubbles will end at some point, ideally through a skillfully managed end and not an uncontrolled cascade of popping.

Unfortunately, I think we may have already let it go on too long to hope for a nice, gradual deflation. Further, I’m not sure which of our current leaders I would possibly describe as skillful. ;)

Thanks for your comment!

]]> By: Roshawn @ Watson Inc http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-3460 Roshawn @ Watson Inc Thu, 22 Jul 2010 12:22:53 +0000 http://balancejunkie.com/?p=6622#comment-3460 In terms of our behavior, I think I am less optimistic than you. I think we repeat the same mistakes over and over. We get caught in bubble after bubble. I think some of us are just prone to be more speculative or trusting than others. In terms of our behavior, I think I am less optimistic than you. I think we repeat the same mistakes over and over. We get caught in bubble after bubble. I think some of us are just prone to be more speculative or trusting than others.
Roshawn @ Watson Inc´s latest post ..How Much Money Does Kim Kardashian Make

]]> By: 5 Financial Bubbles: Are We Facing a Bubble of Bubbles? | Balance Junkie http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-3451 5 Financial Bubbles: Are We Facing a Bubble of Bubbles? | Balance Junkie Thu, 22 Jul 2010 01:58:06 +0000 http://balancejunkie.com/?p=6622#comment-3451 [...] like there should be a lot of them out there. Wednesday, we’ll take a look at some of the social trends that have been become bubbly. Today, we focus on some financial factors that have been stamped with [...] [...] like there should be a lot of them out there. Wednesday, we’ll take a look at some of the social trends that have been become bubbly. Today, we focus on some financial factors that have been stamped with [...]

]]> By: 2 Cents http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-3445 2 Cents Wed, 21 Jul 2010 14:48:24 +0000 http://balancejunkie.com/?p=6622#comment-3445 You've added a lot of great ideas. I happen to agree with you on all counts. Your point about the extra costs in complexity is right on the money and I think you could extend that to all of the other bubbles as well. All of them end up costing us more in the long run. Thanks for taking the time to comment! :) You’ve added a lot of great ideas. I happen to agree with you on all counts. Your point about the extra costs in complexity is right on the money and I think you could extend that to all of the other bubbles as well. All of them end up costing us more in the long run.

Thanks for taking the time to comment! :)

]]> By: Invest It Wisely http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-3444 Invest It Wisely Wed, 21 Jul 2010 14:34:22 +0000 http://balancejunkie.com/?p=6622#comment-3444 Re: Growth & Consumption I completely agree about deficit spending and stimulus, all in the name of propping up malinvestment and keeping the rats spinning in the cages. The path to true growth lies in sound money and sound investment, and in technologies for cleaner energy and production in the future. Re: Complexity The tax codes et. al are farrrr too complicated. I wonder what the true deadloss cost to society has been over the years as a result of this. Complacency & Narcissism: I believe this is in part a result of telling people that everything is OK, that they have the right to free education, healthcare, a pension, a stable job, etc.... without having to lift a finger in support of it. They feel that they "deserve" it merely for existing. It's not just people that are guilty of this; plenty of corporations are also in bed with the politicians :) The problem comes when everyone feels that they deserve something and nobody wants to lift a finger in support of it. Nice post! Re: Growth & Consumption

I completely agree about deficit spending and stimulus, all in the name of propping up malinvestment and keeping the rats spinning in the cages. The path to true growth lies in sound money and sound investment, and in technologies for cleaner energy and production in the future.

Re: Complexity

The tax codes et. al are farrrr too complicated. I wonder what the true deadloss cost to society has been over the years as a result of this.

Complacency & Narcissism:

I believe this is in part a result of telling people that everything is OK, that they have the right to free education, healthcare, a pension, a stable job, etc…. without having to lift a finger in support of it. They feel that they “deserve” it merely for existing. It’s not just people that are guilty of this; plenty of corporations are also in bed with the politicians :)

The problem comes when everyone feels that they deserve something and nobody wants to lift a finger in support of it.

Nice post!
Invest It Wisely´s latest post ..Should I Go with a Fixed or Variable Rate Mortgage

]]> By: Tweets that mention The Culture of More: 5 Socioeconomic Bubbles Ready to Pop | Balance Junkie -- Topsy.com http://balancejunkie.com/2010/07/21/the-culture-of-more-5-socioeconomic-bubbles-ready-to-pop/comment-page-1/#comment-3439 Tweets that mention The Culture of More: 5 Socioeconomic Bubbles Ready to Pop | Balance Junkie -- Topsy.com Wed, 21 Jul 2010 09:53:58 +0000 http://balancejunkie.com/?p=6622#comment-3439 [...] This post was mentioned on Twitter by 2 Cents, 2 Cents. 2 Cents said: The Culture of More: 5 Socioeconomic Bubbles Ready to Pop http://goo.gl/fb/XwMv4 [...] [...] This post was mentioned on Twitter by 2 Cents, 2 Cents. 2 Cents said: The Culture of More: 5 Socioeconomic Bubbles Ready to Pop http://goo.gl/fb/XwMv4 [...]

]]>