Why the World Needs More Non-believers

In one of yesterday’s Markets and Money articles we discussed the thought that people stop believing something when it no longer promotes their survival. We realise this is problematic with regard to say, religious belief. In that case, if your belief calls for the extermination of non-believers, it’s not just about what you believe. It’s about the world you try to create and how you coerce others.

It would be much easier if, say, you believed you were a superhero who could fly. One leap off a tall building would be enough to disabuse you of the notion and clean the gene pool up. The veracity of every belief is not so easily tested, though. The world is full of things we don’t know, can’t know, and don’t even know we don’t know.

But let’s leave those matters aside and focus on finance. When will people stop believing in the healing powers of Quantitative Easing and the virtues of perpetual government debt? Well, that one’s easy! They’ll stop believing in the Keynesian claptrap when they realise it’s making them poorer and lowering their quality of life.

Proof of this lower of quality of life equals: declining levels of home ownership, higher unemployment, higher consumer prices, lower returns on mandatory savings, lower returns on voluntary savings, higher taxes, more regulation, more calls for ‘shared sacrifice,’ continuous campaigning by public officials for more laws, the Kardashians, and more.

Some of those indicators are quite real and tangible. And some of them are perceptions. But social moods evolve just like bull markets and bear markets. Unnaturally long booms financed by excess credit are followed by unnaturally long busts, where the cultural memory of going broke lingers like a visceral experience. Sometimes you have to experience something to appreciate it. No amount of book learning will do.


Dan Denning
for Markets and Money

From the Archives…

William Knox D’Arcy: The Greatest Australian You’ve Never Heard Of
30-11-2012 – Callum Newman

Credit and Credibility
29-11-2012 – Greg Canavan

Nothing More than Feelings… For the Aussie Dollar
28-11-2012 – Dan Denning

The Thanksgiving Gift from the Feds
27-11-2012 – Bill Bonner

The Aussie Dollar Dilemma
16-11-2012 – Dan Denning

Dan Denning
Dan Denning examines the geopolitical and economic events that can affect your investments domestically. He raises the questions you need to answer, in order to survive financially in these turbulent times.

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3 Comments on "Why the World Needs More Non-believers"

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This we can heartily agree upon.

As for natural selection, the Kardashians, and central bankers?

“Never question God’s purpose” was made for them.

What if you live in a country where the population has been exposed to 40+ years of drinking fluoride water, which is proven to lower IQs and reduce memory function. What if the population you have all around you is now so stupid they can’t see or remember how each of the two parties they vote in every election has screwed them over in the past and sold almost every public asset to foreigners at fire sale prices. What if all the Universities are full of foreign students because the local population is too stupid to qualify for entry. Fluoride… Read more »

ChrisPCrunchy is away with the faeries if he thinks Gillard is a socialist communist leader. Surely no-one else agrees that flouride is the cause of the increase in international students studying in Australia? Surely saying such silly things is against the comment policy? Surely.

Sometimes I wonder where Dan would line up on this: does he hate the left more than he believes in the the power of freedom?

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