John Chuckman
COMMENT POSTED TO AN ARTICLE BY CHARLES HUGH SMITH IN CHECKPOINT ASIA
“Stock Market Cheerleading: Why Do We Celebrate the Super-Rich Getting Richer?
“What exactly do we get out of the central banks blowing up the stock market valuations for the ultra-rich?”
I think there are many reasons, including some offered in comments.
But I do think there is something fundamental, and rather primitive, in human nature contributing to this phenomenon.
Why do people in cities almost automatically cheer their hometown sports teams, even though perhaps not one member of the team comes from the hometown and the owner may be some faceless corporation or distant oligarch?
Human behavior simply is not all subject to rational analysis.
