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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Wyätt Gwyön who wrote (45556)11/15/2005 1:46:59 PM
From: anachronist  Read Replies (1) of 110194
 
Heinz sure likes these hyperbolic statements. like his "death warrant has been signed on Google" proclamation about 120 points ago. unfortunately, his blanket aphorisms are full of bedbugs. there is no magic Crisis Fairy out there who ensures that a crisis will not come to pass if only enough people worry about

I think he is being glib. I take his statement to mean the following: If the majority of people recognize something as a forthcoming crisis, they will change their behavior to mitigate the damage. In so doing, their actions in aggregate will minimize the damage such a crisis will inflict. When a crisis is unlooked for, or in the case of Katrina only looked for by a few, no such mitigating actions will have taken place. Therefore, the crisis unlooked for is always much worse. Its like the Heisenberg uncertainty principle of the social science, observation of a phenominae changes its characteristics.
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