October 30, 2013
Former Chairman of the Fed Alan Greenspan, sometimes lauded as the Maestro, has released a new book that strikes back at critics who claim his chairmanship helped set up the dominoes of the 2008 crash. Greenspan, in response, says that “Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.”
In spite of all his years of experience and education, even Greenspan was still shocked by the market’s behavior, even with the lessons of the Great Depression available. So how did nearly every economist miss the 2008 crash? At Oxford, Cambridge and Trinity colleges, Robert Prechter explained what went wrong with conventional thinking. Click here to learn more >>
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The Socionomist enables you to see trend-shaping waves of social mood, as reflected by the stock market — and capitalize on them. The April 2023 issue looks at negative social mood’s influence on the tumultuous history of the Mexican Revolution. Mood Riffs topics include President Joe Biden’s reelection prospects, challenges facing corporate giants, the new workplace trend known as Bare-Minimum Monday, and British Columbia’s effort to relax laws governing hard drugs. Read the April issue when you become a Socionomics Premier Member. 
