Hysteresis
Let’s put the markets aside and talk about hysteresis. It’s a physical phenomenon that occurs when the behavior of a large system changes slowly, lagging behind the effect that caused it.
In psychology, there’s a similar phenomenon called denial.
Soviet citizens saw German airplanes and continued to wash the dishes.
People see that oil prices are rising and continue to read posts on Medium.
Read more in this Medium Story: https://medium.com/@dengorbachev/master-plan-18fa07421b6f
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