The headline selection itself - Missing airliners, bombing foreigners, special interest stories, terrorism, Bill Cosby. Anything to avoid reality. That's what bubbles do, they give everyone an excuse to ignore what is really going on in the world and instead focus on minor diversions that are blown out of all proportion. We're above worrying, we outsourced that problem. Why should we be concerned about the economy? That's a detail.
The lamestream media floods the Idiocracy with constant irrelevant bullshit:
And all along the risks accumulate quietly in the background while converts to the newfound optimism grow by leaps and bounds. Soon everyone is 'bought in' to the bubble, whether through stocks, or a new house, more debt, upgraded lifestyle. At that point, the bubble becomes a self-reinforcing momentum machine - no external stimulus needed. Although ongoing trillions of Central Bank liquidity can only add nitrous oxide to the fuel mix.
Ultimately, people take on so much risk that they can only see the bubble. They are incapable of seeing the risk. They are incapable of envisioning a future state that doesn't involve 'more', because they wouldn't be solvent in a future that doesn't bring more.
Pessimism (aka. realism) is anti-social behaviour
And our society encourages optimism, it's the choice for winners. Pessimism is for losers - it's strictly anti-social behaviour. Everyone wants to maintain a stiff upper lip, in order to avoid ostracization. To admit that 'this' is not working is to admit personal failure. Somehow it's working for everyone else except 'me'. Personally, I don't have this problem, since I don't have any friends in the first place. So I'm not encumbered by the need to impress someone who doesn't exist.
We are bred to take risk and strive for 'more'. Ninety percent of the time, optimism works great and pays off. Ten percent of the time, optimism is a lethal bias that ends in self-implosion.
We're in one of those times now when unfounded optimism is lethal. They can't see the bubble, because they are the bubble.
