Meme stocks/coins flying, lying media, ppl living in America while calling for its destruction, unlimited printing causing inflation w/ nobody being held accountable.

Everyone on the planet should read this book multiple times to better understand the insanity occurring today.

"Extraordinary Popular Delusions and the Madness of Crowds."

The enduring relevance of this book lies in its depiction of how humans, despite advances in knowledge and technology, are still susceptible to collective delusions and herd instinct. Mackay's work is a cautionary tale about the dangers of groupthink and the importance of independent thought.

Power of Crowds: "Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."

Financial Bubbles: "Every age has its peculiar folly: some scheme, project, or fantasy into which it plunges, spurred on by the love of gain, the necessity of excitement, or the mere force of imitation."

Persistence of Delusions: "Nations, like individuals, cannot become desperate gamblers with impunity. Punishment is sure to overtake them sooner or later."

Folly of Crowds: "Of all the offspring of Time, Error is the most ancient, and is so old and familiar an acquaintance, that Truth, when discovered, comes upon most of us like an intruder, and meets the intruder's welcome."

Speculation: "The propensity to greed is universal, and is nowhere more peculiarly intense than in the heart of man."

Irrational Behavior: "It was the most unaccountable delusion ever recorded in the annals of folly."

The Spread of Ideas: "The follies of our predecessors are instructive to the posterity that succeeds them."

Lessons of History: "But money, like other things, is of more value for its uses than for its own sake; and, though a necessary agent in the business of the world, does not always pay the best interest for the happiness either of individuals or nations."

Reply to this note

Please Login to reply.

Discussion

No replies yet.