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Question of the day - Bubble?

Irving Janis, a research psycologist at Yale devised eight symptoms that are indicative of 'groupthink'. 'Groupthink' is described as the systematic errors made by groups when taking collective decisions.

Let's work through these symptoms:

1. Illusions of invulnerability creating excessive optimism and encouraging risk taking.

2. Rationalising warnings that might challenge the group's assumptions.

3. Unquestioned belief in the morality of the group, causing members to ignore the consequences of their actions.

4. Stereotyping those who are opposed to the group as weak, evil, disfigured, impotent, or stupid.

5. Direct pressure to conform placed on any member who questions the group, couched in terms of "disloyalty".

6. Self censorship of ideas that deviate from the apparent group consensus.

7. Illusions of unanimity among group members, silence is viewed as agreement.

8. Mindguards — self-appointed members who shield the group from dissenting information.

Question of the day - The Media, Democrats and the Obama campaign are deeply entrenched in the culture and process of 'Groupthink' and hence, the Obama campaign can be thought of in terms of an irrational 'bubble'.

Discuss amoungst yourselves.

Posted @ October 24, 2008 02:29 PM | Current Affairs

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Tracked on October 26, 2008 09:07 AM

Yes, it's definitely an irrational bubble.

The question becomes what rationality forced upon this irrational bubble will bust its hype?

And how does a group or an individual force rationality when the major information providers are part of the irrational bubble themselves?

Posted by: Dr. Bob at October 24, 2008 10:26 PM

The problem is, the Dems have fulfilled this list for the last ~40 years.
They haven't really popped yet.
Reagan came close, but we still have 32 years of their totalitarian world view.

Posted by: EvilDave at October 24, 2008 10:31 PM

LOL, what's to discuss? The analysis is pretty apt and right on target.

Posted by: Vootie at October 25, 2008 02:05 AM

Frank, i know personally of what you speak. And by doing so, has had be banned a couple years ago from a message board or three, under the handle stylecounciler on Investorvillage, investorshub, and ragingbull's BSIC, MDVX, and DGRI boards. And all i did was use fact and opinion to warn people of the pump going on on those three companies.

Many people suffering form the group think, and responding in the exact ways you mention in your post subsequently had their lunch eaten by similar wolves you also mentioned.

Good on 'ya, mate!!!

Posted by: roberto at October 25, 2008 05:17 PM

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