I recently listened to a podcast about recent revelations on the Belgian UFO wave in the 80′s. I’m not really into UFOs but apparently a famous photo taken for granted as a solid proof for 30years, has just been outed as a fake by its very own photographer.

And so, the episode[fr] describes the ensuing phenomenon of cognitive dissonance among the UFO believers.

So far, so good, but nothing related to markets !

However, I’ve just read a very interesting analysis on the current state of finances in which, one paragraph describes the “cognitive chaos” in which the financial and public autorities are in. Pointing out at the fact that they’ve recently finely observed that budget restrictions was not doing any good to any economy (and that they increase a country’s economic problem by jeopardizing its growth) and yet they keep on firmly advising countries  to stick to policies fostering economic austerity.

The article is in french but still available there: Le commencement de la fin[fr] by Frédéric Lordon

So, maybe I’m just tired but somehow reading the later immediately reminded me of the former and the cognitive dissonance of UFO believers…