Institutionalized Belief in the Greater Fool
We educate our children to participate in greater fool games.<p>Go to college, regardless of tuition.<p>Put your money in the stock market, regardless of its health and structure.<p>Buy bonds, regardless of the interest rate.<p>Own a house, regardless of market conditions.<p>---<p>Most people don&#x27;t think critically about their money, which makes them easy prey for greater-fool games built on top of institions they were educated to trust.