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.