The illusion of control

Alhambra Investments/Joseph Y. Calhoun

Repost from 9-2-2021

graphic image of a wizard in silouette“I understand the desire of the public to believe that there is someone in charge, that we have some control over our economic fate. What baffles me is that the economists at the Fed and elsewhere continue to believe in the Fed’s control over such a wide range of real variables in the economy.”

USAGOLD note: An interesting look at the psychology behind the market action that ends with some proactive comments about YOLO (you only live once) and FOMO (fear of missing out).

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