- The Big Picture - http://www.ritholtz.com/blog -

The Uncertainty Trope

Posted By Barry Ritholtz On August 7, 2013 @ 8:00 am In Markets | Comments Disabled

Want to understand what Uncertainty actually is? Try this explanation:

“It finally dawned on me what the uncertainty trope is all about. It took a conversation with a nervous chief executive to reveal it, but I teased out the answer.

Most of the time, people exist in a happy little bubble of self-created delusion. We engage in selective perception, seeing only the things that agree with us. Our selective retention retains the good stuff and disregards most of the rest. In our minds, we are all younger, better-looking, slimmer, with more hair than the camera reveals.

In short, we construct a reality that bears only passing resemblance to the objective universe.

During those brief instances when the facade fades, the curtain gets pulled back and the ugly reality becomes clear. We get a glimmer of understanding about our own lack of understanding. That’s when the grim reality of the human condition is revealed — and it terrifies us.”

-There’s nothing new about uncertainty [1], The Washington Post July 7, 2012

 

The current usage is another nonsensical narrative, created by political consultants, parroted by an ignorant press, and repeated by clueless dittoheads.


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

URL to article: http://www.ritholtz.com/blog/2013/08/the-uncertainty-trope/

URLs in this post:

[1] There’s nothing new about uncertainty: http://www.washingtonpost.com/theres-nothing-new-about-uncertainty/2012/07/06/gJQA5hnmUW_story.html

Copyright © 2008 The Big Picture. All rights reserved.