Professor Elam

Sunday Sept 19, 2010

 
Western
Artist G. Harvey, chosen to depict Lyndon Johnson’s boyhood home, Is having an
exhibition in Fredricksburg, TX. But here is what caught my eye. –

The month’s exhibition and
sale of new Harvey works-which has the reverberating force of a cattle stampede
in the exclusive Western art world- is the fist big Texas event since 1986

This
is more top of the market psychology. The article notes that his works
originally sold for $50-800 now may fetch $230,000. While the exhibitors may or
may not realize it, this sort of sale would have been impossible a year ago.
The social mood had to return to a ‘don’t worry, everything is okay’ state of
mind.   The cattle are
stampeding, while investors are stampeding into junk bonds and a high state of
denial regarding risk. 1986=87 of course as a market top before the infamous Crash of 1987.

Texas
Tech University plans a $1 Billion fund raising campaign. Again this would not
have been announced a year ago. Only the giddy atmosphere that coincides with a
30 year anniversary of a silver price high makes such psychology possible.

HOB
 begins showing Boardwalk Empire, a mob story of the
1920s. Starring Steve Buscemi, usually a supporting player though always superb
in our opinion. Martin Scorcese is co-executive producer, said to be itching to
get into the HBO series game. With star talent and star directors not bringing
the fees they are accustomed to, no wonder, This of course follows HBO’s
successful Sopranos series.  Mob stories are the dark side of the force, this is an
echo of the success of the Godfather during
the worst of the 1972-74 bear market.

Oliver
Stone’s Money Never Sleeps
has been released a rough 21 Fibonacci years after its 1987 release. The
original saw a Wall Street crash, will lightning strike twice?

Socionomics is a theory of prediction relying on social behavior and mood. Such changes originate within, these are endogenous changes.  Changes in mood are reflected in the actions of people on a mass scale.