https://ritholtz.com/2021/03/transcript-william-j-bernstein/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29

Transcript: William J. Bernstein
March 7, 2021 12:00pm by Barry Ritholtz
The transcript from this week’s, MiB: Bill Bernstein on the Delusions Of Crowds, is below.

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BERNSTEIN: So we have this evolutionary drive, that let me we lead this to over interpret things and the analogy I think that is best is that you know if you’re a skunk millions of years of evolution have told you that when you meet a large predator, you turn 180 degrees, lift your tail and spray.

And that’s you know, very, very functional and very useful in a state of nature. But in a semi urban environment where the biggest threat to your existence is a hunk of steel weighing two tons moving at 60 miles an hour, that is not a functional response and unfortunately that’s the world we live in today.

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Somehow I feel that “We, The Sheeple” are like that poor skunk being unable to adapt to the politicians and bureaucrats taking control of life.

Argh!

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