QuoteOriginally posted by: Traden4AlphaYes, Minsky's Hypothesis is brilliant and deserves to be more widely known. The deeper cause is that the future isn't like the past and anyone who uses math that makes that assumption is destined for a world of hurt. That is, investment and risk management theories that use historical data, especially ones that use "recent" historical data, are extremely dangerous.One partial solution to Minsky-style instabilities is paradoxical management of leverage ratios -- mandating higher reserves during times of stability.Look how t4a would not hesitate to tell people what they can gamble on, based on some elaborate translation of history into a model. But he will turn off his brain altogether when advocating where a mosque should be built. T4A has advice for people every day. Some of his advice is not simply how he would act, or how he would advise you to act, but something he would like to see voted into law. It is how he would like to see people forced to act. There may be cases where t4a would like to see the US Constitution not just misread, ignored, or lied about, but amended.But when it comes to a mosque at ground zero, he lies by denying it will even make him smile or frown? T4A, will it make you smile or frown? Okay, now tell us what you think about bubbles, and what can be done about them? Okay, now tell us what you think about Christians, and what can be done about them? Okay, now tell us what you think can be done about mosques at ground zero? Cat got your tongue? First time in recorded human history that you can't tell us the smartest place to build a building, or start a business?!? Is that a smart place to build a mosque? Is that a smart place to build a McDonalds?See, witness a fool.But there is a simple explanation for this. So-called educated people have very high opinions of themselves. If something is too obvious, if it is known by any idiot on the street, some people feel compelled to declare the opposite. They do this to establish that they have superior knowledge. They refuse to stand side-by-side with an average person, and will prefer some very shaky ground, intellectually. They must at all times maintain a separation of themselves from the common person. T4a will be vocal about things others cannot discuss, and will refuse to talk about whatever is on the lips of the man in the street.They gotta always be different!And people fall for this trick by accepting there must be some sophisticated analysis behind their strange opinions. But they are not wise and tolerant, they just pick what the mob thinks and say the opposite. Intellectuals do not have a diversity of opinion, rather they cluster at the polar opposite of the mob.I am sure intellectuals in Iran, in private, love Christianity and oppose the construction of any mosque. And probably intellectuals in China hate the government, just as intellectuals in the US love the government.