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Normalcy Bias

Dear Editor:

The Normalcy Bias condition is well known to psychologists and sociologists. It refers to a mental state of denial in which individuals enter into when facing a disaster or pending danger. Normalcy Bias leads people to underestimate and minimize both the possibility of a catastrophe actually happening, as well as its possible consequences to their health and safety.

Normalcy Bias often results in situations where people fail to prepare for a likely and impending disaster. The Normalcy Bias leads people to believe that since something has never happened before, that it never will happen. Therefore, like an infant with a security blanket, we cling to our habitual, repetitive, and normal way of life, despite overwhelming proof that serious danger lies ahead.

Who has Normalcy Bias? Probably everyone that voted for someone in 2012 that they thought would resolve our economic mess. Everyone with a mildly developed brain knows that living beyond our means can only last for a brief period before a catastrophic condition arises. Our problem is spending and taxing. Washington’s solution is borrowing, which always appears to make the problem go away.

However, there is another way to slip money into the system to make things look better. Print money. According to the U. S. Bureau of Printing, Reagan averaged printing $69 billion annually his last four years, GHW Bush averaged $86 billion, Clinton averaged $160 billion, GW Bush averaged $133 billion, and in four years, Obama’s administrations have printed $913 billion ($359 billion in 2012).

Putting our government records on Internet sites allows us to see what Washington is doing. The records, unlike the news, are not tainted. We can make informed decisions based upon fact. The problem is, so can the whole global community. As our debt and money printing visibly skyrocket, the global community, which accepts the U.S. dollar as the global reserve currency, is getting nervous and big nations are working around replacing the U.S. dollar with something more stable.

Porter Stansbury (who predicted the collapse of Fannie Mae, Freddie Mac, GM and others) says, “we will never be able to pay our debt.” And he predicts our collapse sooner rather than later. He recognizes our Normalcy Bias which leads us to complacently vote on people and parties that are in denial of our real situation. The Democrats promise increasing our debt forever, Paul Ryan promises to lead us to a balanced budget in 10 years. Rand Paul talks of a balanced budget in five years. If you think Porter is wrong, use your own calculations. If we seriously reduce spending and increase taxes, a massive rise in unemployment results, and down comes our house of cards.

What to do? My monied friend said if you have money, “spend it.” So we went to Fort Collins to watch our Pagosa Springs High School basketball teams beat up on all challengers. We were so proud of both teams. I’ve never seen such fierce competition. The competitors’ Normalcy Bias left them in a state of shock!

Harris Bynum

This story was posted on March 28, 2013.