{"id":3503,"date":"2020-12-23T05:20:58","date_gmt":"2020-12-23T05:20:58","guid":{"rendered":"https:\/\/www.radiofree.org\/?p=142532"},"modified":"2020-12-23T05:20:58","modified_gmt":"2020-12-23T05:20:58","slug":"beyond-the-fear-and-greed-index","status":"publish","type":"post","link":"https:\/\/radiofree.asia\/2020\/12\/23\/beyond-the-fear-and-greed-index\/","title":{"rendered":"Beyond the \u201cFear and Greed Index\u201d"},"content":{"rendered":"
\n

Investors are driven by two emotions: fear and greed.<\/p>\n

\u2014\u00a0CNN-Money<\/a><\/p>\n<\/blockquote>\n

These days, for the 5% of Americans who have substantial cash to invest, it has become increasingly easy to acquire large capital-gains in stock-market equities, even over the short<\/em>-term.\u00a0 Super-wealthy investors, with periodic bolstering from the Fed, nowadays produce the frequent bubbles of absurdly inflated share-prices, later cashing out just before the predictable slump occurs.\u00a0 Such gains are then taxed at only a 15% rate, far lower than the 28% rate imposed on most wage-dependent earners.\u00a0 Moreover, of course, as such investors die — notwithstanding their frequent hubris<\/em> about mortality (cf. my article \u201cGreedy Old Plutocrats<\/a>\u201d), they leave behind obscenely massive \u201cestates,\u201d the cash-value of which is then passed on tax-free<\/em> (up to the current lifetime gift tax limit of $11.58 million).<\/p>\n

CNN\u2019s quite-serious assertion about human motivation is constantly calculated in their \u201cFear & Greed Index.\u201d\u00a0 One may laugh at the fatuous reduction of the human being to a subhuman creature, reduced to such two \u201cbasic instincts,\u201d but few would deny that the typical big investor is just such a creature.\u00a0 What about the immeasurable joys of just being alive?<\/em>\u00a0 All is frozen and reduced — to this one primal craving for \u201cmore\u201d (and dread about \u201cless\u201d).\u00a0 \u201cHaving\u201d becomes all, <\/em>and with it, the reduction<\/em> of all qualitative experience into the calculable: \u201chow much\u201d?<\/em><\/p>\n

A century ago, in his brilliant essay on \u201cThe Metropolis and Mental Life,\u201d (1903), sociologist Georg Simmel linked this drastic diminution of human experiential-values to urban life , <\/em>with its all-embracing \u201cmarket-values\u201d imposing a price-tag on everything. <\/em>(These days, for instance, billionaires routinely acquire<\/em> \u201ctrophy-wives.\u201d). Historically, the city<\/em> has always been a marketplace, in which human consciousness increasingly exhibited the shared delusion<\/em> that daily living consists almost exclusively of \u201cbuying\u201d and \u201cselling.\u201d\u00a0 The informal rhythms of pastoral-agrarian life — with its ever-varied aesthetic-sensuous qualities (sunsets, newborn calves, the melting-of-the-last-snow) — were increasingly forgotten.<\/p>\n

The basic human motivation — in extreme cases, described by psychoanalyst Erich Fromm as an \u201canal-hoarding\u201d fixation — became a single-minded, obsessive avarice, <\/em>and with it the often-pornographic obsession with the \u201cpleasures\u201d such wealth may bring.\u00a0 In our current, urbanized world, vast realms of human experience, subjective and interpersonal states which cannot be quantified, perhaps do not even \u201cexist\u201d–from the affectively stunted, diminished awareness of such ever-calculating wealth-addicts.<\/p>\n

Exultant feelings of emerging \u201cenlightenment,\u201d poignant moments of pathos about a loved one\u2019s fallibility and transience, loving glances of devotion and tragicomic forbearance, solitary jubilation when one\u2019s embattled integrity is redeemed, enchanted delight in the buoyant song and graceful flight of a single bird, wounded yet unbowed moments of somber resolve — such are some of the high-points of the incalculable affirmation <\/em>of being fully alive.<\/em><\/p>\n

The post Beyond the \u201cFear and Greed Index\u201d<\/a> first appeared on Dissident Voice<\/a>.<\/p>\n\n

This post was originally published on Radio Free<\/a>. <\/p>","protected":false},"excerpt":{"rendered":"

Investors are driven by two emotions: fear and greed. \u2014\u00a0CNN-Money These days, for the 5% of Americans who have substantial cash to invest, it has become increasingly easy\u2026<\/p>\n","protected":false},"author":281,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,4,33],"tags":[],"_links":{"self":[{"href":"https:\/\/radiofree.asia\/wp-json\/wp\/v2\/posts\/3503"}],"collection":[{"href":"https:\/\/radiofree.asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/radiofree.asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/radiofree.asia\/wp-json\/wp\/v2\/users\/281"}],"replies":[{"embeddable":true,"href":"https:\/\/radiofree.asia\/wp-json\/wp\/v2\/comments?post=3503"}],"version-history":[{"count":1,"href":"https:\/\/radiofree.asia\/wp-json\/wp\/v2\/posts\/3503\/revisions"}],"predecessor-version":[{"id":3504,"href":"https:\/\/radiofree.asia\/wp-json\/wp\/v2\/posts\/3503\/revisions\/3504"}],"wp:attachment":[{"href":"https:\/\/radiofree.asia\/wp-json\/wp\/v2\/media?parent=3503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/radiofree.asia\/wp-json\/wp\/v2\/categories?post=3503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/radiofree.asia\/wp-json\/wp\/v2\/tags?post=3503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}