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The Oslo Housing Bubble Syndrome (from Katii)
1 year ago
The Oslo Housing Bubble Syndrome

Mises Daily: Monday, January 07, 2013 by Mark Thornton

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The Stockholm syndrome is a psychological phenomenon whereby hostages develop irrational sympathy toward their captors even to the point of defending their captors in subsequent investigations and criminal trials. While this applies to individuals or small groups, the Oslo syndrome applies to whole national populations.

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In The Oslo Syndrome: Delusions of a People under Siege (Smith and Kraus Global, 2005), Kenneth Levin describes a &ldquosychological response common among chronically besieged populations, whether minorities subjected to defamation, discrimination and assault or small nations under persistent attack by their neighbors. People living under such stressful conditions often choose to accept at face value the indictments of their accusers in the hope of thereby escaping their predicament.”[1]

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Actually, the Oslo syndrome applies to all people living in socialist states. The state tells people what to do, forces people into public schools to be indoctrinated, tells people what we can and cannot consume, uses police power, and punishes people who do not do what they are told, and throws people into prisons if they continue to live the way they choose. The state’s system leads most to just accept things as they are as if it were the only possible way of life.

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Given that the Oslo syndrome applies to an entire nation, and that Norway is living through what will hopefully be the final housing bubble of this cycle, I thought it appropriate to dub the psychological phenomenon associated with housing bubbles, the “Oslo housing bubble syndrome.” This psychological phenomenon is the “irrational” response of people living in a bubble economy. They ignore or dismiss signs of a bubble and instead attribute their good luck (i.e. higher home prices) to “fundamental factors” that appear to substantiate high prices in real estate or stocks.

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read the rest at the link: http://mises.org/daily/6318/The-Oslo-Housing-Bubble-Syndrome

1 year ago

For an individual it's called Stockholm Syndrome...  I made the connect between the individual syndrome and the syndrome suffered by large groups for their captors (government) some time ago. Until now I didn't know it had a name.

(Thank you, Nancy, for posting this for me))

1 year ago

(You mean Rebecca?)

1 year ago

(yes, Nancy lol)   

(thank you, Rebecca! And sorry)   

No comments?    

 I think this is a serious issue that people should ponder, if for no other reason than to take a personal inventory of our beliefs.

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