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Dissecting the Big Lie (Update)

Posted By Barry Ritholtz On November 21, 2011 @ 10:30 am In Markets,Politics,Psychology,UnScience | Comments Disabled

This weekend, the Washington Post published the follow up piece [1] to the Nov 5th Big Lie [2] column. I supplemented that with a run of charts [3] to illustrate the facts I cited.

The pushback continues from the usual sources. We can group folks repeating the faux arguments into 3 distinct categories. Some of these reveal disturbing trends:

1) The Cognitive Dissidents [4] (my term for a those politically dissenting from reality); their brains simply will not allow them to see what disagrees with their ideology. This is a very real and unfortunate part of human nature;

2) The Political Manipulators, who cynically know what they peddle is nonsense, but nonetheless push the stuff because it is effective. These folks are more committed to their ideology than the good of the nation, and as such earn my disdain.

3) The Innumerates, the people who truly disrespect a legitimate process of looking at the data and making intelligent assessments. These innumerates — mathematical illiterates — seem to revel in their own ignorance; it si embarrassing.

The denying of reality has been an issue, from Galileo to Columbus to modern times. Reality always triumphs eventually, but there are very real costs to it occurring later versus sooner . . .

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Still popular in WaPo Business Section!

[5]


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2011/11/dissecting-the-big-lie-update/

URLs in this post:

[1] follow up piece: http://www.washingtonpost.com/business/examining-the-big-lie-how-the-facts-of-the-economic-crisis-stack-up/2011/11/16/gIQA7G23cN_story.html

[2] Big Lie: http://www.washingtonpost.com/business/what-caused-the-financial-crisis-the-big-lie-goes-viral/2011/10/31/gIQAXlSOqM_story.html

[3] run of charts: http://www.ritholtz.com/blog../2011/11/charts-facts-economic-crisis/

[4] Cognitive Dissidents: http://www.ritholtz.com/blog/2011/11/the-cognitive-dissidents/

[5] Image: http://www.ritholtz.com/blog/wp-content/uploads/2011/11/Post-most-11.21.11.png

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