Perception is Everything
Rory Sutherland: Perspective is everything
So the power of reframing things cannot be overstated. What we have is exactly the same thing, the same activity, but one of them makes you feel great and the other one, with just a small change of posture, makes you feel terrible. And I think one of the problems with classical economics is it's absolutely preoccupied with reality. And reality isn't a particularly good guide to human happiness. Why, for example, are pensioners much happier than the young unemployed? Both of them, after all, are in exactly the same stage of life. You both have too much time on your hands and not much money. But pensioners are reportedly very, very happy, whereas the unemployed are extraordinarily unhappy and depressed. The reason, I think, is that the pensioners believe they've chosen to be pensioners, whereas the young unemployed feel it's been thrust upon them.
The circumstances of our lives may actually matter less to our happiness than the sense of control we feel over our lives. It's an interesting question. We ask the question -- the whole debate in the Western world is about the level of taxation. But I think there's another debate to be asked, which is the level of control we have over our tax money.
One of my great friends, a professor called Nick Chater, who's the Professor of Decision Sciences in London, believes that we should spend far less time looking into humanity's hidden depths and spend much more time exploring the hidden shallows. I think that's true actually. I think impressions have an insane effect on what we think and what we do.
Perspective on Gold:
Institute for Political Economy Rigged Gold Price Distorts Perception of Economic Reality - Paul Craig Roberts
The Fed and its agents rig the gold price in the New York Comex futures (paper gold) market. The bullion banks have the ability to print an unlimited supply of gold contracts which are sold in large volumes at times when Comex activity is light.INO.com Traders Blog Market Perception, China, and Why Gold is Going Higher
Our perspective on Gold is distorted and should be reframed.
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