Why every new generation is just another mindless herd that gets financially obliterated by another stock market bubble collapse

‘It’s always amazing to me how easily people suffer from popular delusions and the madness of crowds. Most humans are, in essence, herd animals, meaning that their beliefs, perceptions, behaviors and even their “facts” are determined almost entirely by social conformity rather than evidence of reality.
Seemingly unique to humans is the ability to cognitively justify irrational herd behavior through a complex process of self delusion where people tell themselves that they are thinking rationally. In reality, they’re just stupidly following the herd… but they’re really good at LYING to themselves to think they are rational, critical thinkers who have carefully weighed the situation and made a logical decision based on evidence.
Every new generation that comes along suffers under the absurd delusion that it’s way smarter than every previous generation. Yet every generation gets suckered into the exact same cycle of greed, conformity, panic and wipeout that afflicted each previous generation.’
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