Be Prepared
This is an excerpt. The full article can be accessed via the link.
Emotionalism, fueled by fear, the most powerful human emotion, surges during a crash. Even for those who expected it and may be profiting from it, the emotional register jumps. Humans are quite sensitive to other humans’ emotions, especially in a group setting. To counter the often manic impulses of the herd requires a deliberate braking effort, telling one’s self, perhaps out loud, to slow down, to breathe, to carefully consider—away from the herd—and reconsider important decisions, and then, before your decision is final, to talk with someone whose judgment you trust.
Emotionalism, fueled by fear, the most powerful human emotion, surges during a crash. Even for those who expected it and may be profiting from it, the emotional register jumps. Humans are quite sensitive to other humans’ emotions, especially in a group setting. To counter the often manic impulses of the herd requires a deliberate braking effort, telling one’s self, perhaps out loud, to slow down, to breathe, to carefully consider—away from the herd—and reconsider important decisions, and then, before your decision is final, to talk with someone whose judgment you trust.
In the middle, though, you suddenly conflate bulls with statists. The two have nothing to do with one another. If I had to relate them, I'd think people who are more pessimistic about human ingenuity's ability to create value would be more statist. People who believe capitalism, excluding struggling capitalists looking for a scapegoat for why their deals aren't working at the moment, would be more bullish.
My reading of this was that economic optimism "rests on faith in gov'ts."
"risks and dangers should be on everyone’s mind, but they’re not. Hope springs eternal, and today’s version rests on faith in governments and their central banks to manage economies and financial markets. Few SLL readers share that faith, but for those that do, consider renouncing it (see the links at the end of the article for intellectual and empirical arguments against statist religion). "