How has risk aversion become the American way? From Charles Hugh Smith at oftwominds.com:
If our faith in the future and our resilience is near-zero, then we can’t take any chances.
You’ve probably noticed how risk-averse Hollywood has become: the big summer movies are all extensions of existing franchises–mixing up the superheroes in new combinations, or remaking hit films from the past–all safe bets.
The trend to “playing it safe” is not limited to Hollywood:–we see risk aversion in every sphere of the economy and society.
The unfailingly stimulating Ben Hunt of the Epsilon Theory newsletter has been highlighting the connection between super-easy-money financial policy and the avoidance of risk that’s so apparent in Corporate America: rather than take a chance that an investment in new technology, worker productivity etc. will increase sales and profit margins, corporations are borrowing super-cheap money and using this “nearly free money” to buy…
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