Learned Helplessness is a psychological condition in which one continues to be hurt or damaged physically or mentally after having learned of one's powerlessness in a situation.
Cognitive Dissonance is the feeling of uncomfortable tension which comes from holding two conflicting thoughts in the mind at the same time.
As we review today's latest SOMA (Secure Official Money for 'Assets') program the progression from outrage to acceptance continues:
Discussion of the PPT on Hee-Haw elicited a remark from hometown hero Citizen Santelli that 'we know the Bank PPT exists' which resulted in the backbenchers proclaiming ' Where is the outrage?' '... and we like it!'
We're just powerless to deal with folks not wanting to sell assets worth a nickle at a nickle so we need a joint venture partnership between the Fed and the Treasury where the Treasury provides the equity to the Fed administered SIV. Let's leverage that puppy up and go collect full-faith and credit nickels in front of the printing press constrained bulldozer.
As the government coats the financial skeleton with taxpayer financed adamantanium, there are glimpses of cognitive dissonance setting in.
Someday the FED will have to mop up all these meatballs but we can't worry about that now.
If the government crowds out the private, more so because of the quality (what we are paying for the assets) as opposed to the quantity (and ultimately you can't fix a broken dam with more water), the government then has to bring the private sector in utilizing the very methods that have crowded them out, but we can't worry about that now.
Learned helplessness leads to cognitive dissonance.
The combination leads to cognitive helplessness and learned dissonance.
But we can't worry about that now.
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