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      No, central banks aren’t screwing the economy up with their purchases: Veolia (Paris:VIE) has issued a 500 million 3-year EUR bond (maturity November 2020) with a negative yield of -0.026 %, which is a first for a BBB issuer. To be clear, central banks didn’t buy those bonds, investors did. But central bank purchases of […]
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Go there, Digby.

You are very close. All you need is the F word to put it all together and add a dash of second amendment.

That ought to keep you up at night.

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4 Responses

  1. Pioneering sociologist Max Weber (1864–1920) found that cults based on charismatic leadership often follow the routinization of charisma. Sociologist Roy Wallis (1945–1990) argued that a cult is characterized by “epistemological individualism” meaning that “the cult has no clear locus of final authority beyond the individual member.” Cults, according to Wallis, are generally described as “oriented towards the problems of individuals, loosely structured, tolerant [and are] non-exclusive”, making “few demands on members”, without possessing a “clear distinction between members and non-members”, having “a rapid turnover of membership”, and as being transient collectives with vague boundaries and fluctuating belief systems. Wallis asserts that cults emerge from the “cultic milieu”.

    In an article on Al Qaida published in The Times, journalist Mary Ann Sieghart wrote that al-Qaida resembles a “classic cult”, commenting: “Al-Qaida fits all the official definitions of a cult. It indoctrinates its members; it forms a closed, totalitarian society; it has a self-appointed, messianic and charismatic leader; and it believes that the ends justify the means.”

    Are Wallace and Sieghart even talking about the same thing?

    • I asked myself the same thing. But never mind weber. Al Qaeda, branch davidians, the anabaptists of Munster, they are more alike than different.

      • But the definitions they give are 180 degrees apart on every major point of interest.

        Is “cult” like “proscribe” or “raise” vs “raze” or something?

        • I found the descriptions wanting as well. I prefer the term High Control Group.
          What I found encouraging is that I’m no longer just bat shit crazy. If Digby is starting to get an uneasy feeling about it, there’s a slight possibility that Democrats will start to take it seriously.

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