“Irrational Exuberance Disappears in a Crash. It Just Goes “Poof!” And, When Fantasies Disappear, People See Things That They Didn’t See While the Fantasies Had Influence Over Their Vision.”

Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:

No, Rob, I have not seen any threats to Wade’s job. I, and others, have asked for links to that and to those death threats you have claimed, yet you have provided no evidence. Yet here you are again with your abusive talk about prison and your name calling.

It doesn’t matter what you say you see or what I say I say. What matters is what millions of middle-class investors say they see in the days following the next price crash.

Price crashes change what people can see, Anonymous. Or at least they can change what people say they see. Irrational exuberance disappears in a crash. It just goes “Poof!” And, when fantasies disappear, people see things that they didn’t see while the fantasies had influence over their vision.

I will do what I can to help you out. That much I can offer. I will not necessarily be able to persuade the millions of investors who suddenly will be able to see things that they couldn’t see before now that the fantasy stuff has disappeared for them. I do not have control over what those millions say or do. Perhaps you’ve noticed.

Fantasies giveth and fantasies taketh away. The way it is. Shiller was awarded a Nobel prize because he showed with peer-reviewed research the power that fantasies have over stock investors. We are today living through the stuff that he talks about. We are living through one side of the story today and we will be living through the other side in the days following the next price crash.In those days we will be living through the side of the story in which people like you are placed in prison cells for things they did when as a society we were living though the earlier side of the story.

Or so Rob Bennett sincerely believes, you know?

Hang in there, man. It gets better, prison cells or no prison cells. A lot better.

Rob