{"id":446,"date":"2008-10-29T07:54:00","date_gmt":"2008-10-29T07:54:00","guid":{"rendered":"https:\/\/clusterfamilyoffice.com\/blog\/?p=446"},"modified":"2008-10-29T07:54:00","modified_gmt":"2008-10-29T07:54:00","slug":"feelings","status":"publish","type":"post","link":"https:\/\/clusterfamilyoffice.com\/en\/feelings\/","title":{"rendered":"Feelings."},"content":{"rendered":"
\u00abFeelings, nothing but feelings\u00bb\u2014that\u2019s how the song by Morris Albert.<\/a> And today we\u2019re going to talk about emotions as they relate to economics.<\/div>\n
Already during the 2005, 2006 and, above all, the first half of 2007<\/span>, a sense of unsustainable, effervescent euphoria began to take hold among some investors. These privileged visionaries acted accordingly, exiting the property market and equity markets well before they reached their peak. This minority was vilified by those around them who continued to make money, deluding themselves into believing Masters of the Universe<\/a> immortal. But this sense of unsustainable easy money, which was evident everywhere\u2014including in the form of credit\u2014became increasingly apparent to many during the first half of 2007. The overheating was already obvious, and a breakdown of any kind was more than predictable<\/a>.<\/p>\n

\"\"<\/a>At August 2007<\/span> arrived the evidence<\/a> that the dysfunction had occurred and the causes were beginning to be explained in an understandable way<\/a> for the majority who were still living in a fantasy world. Some hysterical voices were proclaiming the end of the world, whilst others of us tried to keep calm in the face of events that, even back then, seemed to us like a black swan with its feet and beak covered in soot. In October 2007<\/span> we all already had the details of what was happening<\/a> and we were aware of the pathological nature of a system that was already a far cry from Wonderland, even though politicians and the public continued to use euphemisms, whether consciously or not. The stock markets remained largely oblivious to the underlying problem, but the feeling<\/span> For some, it was already a matter of living through something unprecedented and, at the very least, comparable to the crash of '29.<\/p>\n