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Hatred is Killing Your Profits; New Meltdown Ahead

There’s a lot of hate out there. And it appears to be getting even worse.

Check out this interesting piece by Paul Farrell. Here’s an excerpt, followed by the link…

Hatred is killing your profits; new meltdown ahead

Commentary: Washington and Wall Street cannot hear warnings; you must protect yourself
By Paul B. Farrell, MarketWatch

ARROYO GRANDE, Calif. (MarketWatch) — “During the past decade America went from being an essentially optimistic nation to being an essentially pessimistic one, and finally one that seems to be just plain angry all the time. We are now defined more by what we don’t like rather than what we do like,” says Graydon Carter, Vanity Fair editor.

Result: That mind-set is not only killing Main Street’s investment returns, it’s setting up another catastrophic Wall Street meltdown, dead ahead.

“The list of what we don’t like is long and getting longer,” says Carter. “Conservatives define themselves more by their hatred of liberals than anything else and, conversely, liberals by their distaste for conservatives.

“What else don’t we like? Wall Street, Google, and BP for a start. We don’t like pro-abortion nuts or anti-choice nuts. We don’t like pro-mosque-at-Ground-Zero people, or the anti-mosque faction. We don’t like New York or California, Hummer drivers or Prius drivers. We hate Obama, Bush, and Cheney. (We’ve all but given up on Congress.) We hate big media, big oil, big China.”

The psychology of hatred killing the investor’s soul (and retirement)

Hatred defines us, driving us headlong into a fast-paced decade where hatred is feeding on itself … where democracy is dead, capitalism is deader and the “American Dream” deadest … where Wall Street will lose another 20% of our retirement money in the decade ahead … where the majority already believe their kids will do better than their parents … where we’re all trapped in a relentless countdown not just to another catastrophic meltdown coming soon but on to the 2020 decade, a deadly new era predicted by the Pentagon of “desperate, all-out wars over food, water, and energy supplies,” where “warfare will define human life” across the planet.

Yes folks, in 10 short years hatred has transformed America, already blowing a new bubble. Can we stop this death-spiral? “Irrational Exuberance” author Robert Shiller warns that “until we understand and address the psychology that fuels these bubbles, they will keep forming. We recently lived through two epidemics of excessive financial optimism, we are close to a third episode … another meltdown … another depression.”

http://www.marketwat…ment-2010-09-21

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