'We did it to the world' Mom said.
I was a bit taken back. Dad had said much the same a couple of weeks ago.
Although such commentary is the lingua franca of the blogosphere, Mom and Dad probably have never read a blog. They are very conservative, middle class and have been ,ever since I was indoctrinated by the educational system, usually on the other side of the aisle vis-a-vis laying blame at America's feet.
To hear them speak like the radicalized of the late 19th century was surprising and illuminating.
Socioeconomics or socio-economics is the study of the relationship between economic activity and social life. Are we headed into a depression because we think we are or do we think we are heading into a depression because we are? Socioeconomics says the former is culpable.
Reflecting on the ideological swath of America that shares my parent's views how might the socioeconomic pendulum swing back to marching prosperity?
What pray tell offers redemption for our sins?
The answer I believe, is penance, or that is perceived penance.
At the end of daze, once we collectively feel we have served our penance, the mood will shift.
Game theorists have modeled behavior under negative externalities where choosing the same action creates a cost rather than a benefit. The generic term for this class of game is anti-coordination game. The best-known example of a 2-player anti-coordination game is the game of Chicken.
This game of Chicken is with ourselves.
Or as Citizen Harrison says ' to get through this we have to go through this.'
UDR FFO in-line, beats on rental income
42 minutes ago