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"These markets are driven by psychology," Mr. Barry said.
Remember, even though market cycles can be functions of fundamental economic conditions, their greatest extremes tend to be driven by psychology -- either excessive fear or excessive greed.
What drives that psychology?
Secondly, behaviour is driven by expectations, psychology and herd effects.
While it is mildly surprising that none of the recent bigmouths was undone by a tweet, these situations were driven by modern psychology and technology.
"We are at a point where it's difficult to determine how much of this is being driven downward by psychology or the excesses of the past working themselves out.
I have stressed only that the aggregate stock market in the United States in the last century has been driven primarily by psychology and fads, that it has shown massive excess volatility.
Drawing on modern experimental evidence of the functional significance of animal color strategies, Diamond and Bond offer striking illustrations of how the evolution of features in one organism can be driven by the psychology of others.
"Much judicial decision-making is driven by psychological processes," Mr. Amsterdam said, and "literature enters powerfully into cultural psychology".
Over a period of centuries, these often-cruel processes, which involved systematic violations of human rights, absorbed all of the world's economies into the Western economic model of globalization, instilling and fueling a market-driven psychology of fear and greed among investors and citizens in nearly every geographic region of the planet.
The matter is so touchy because in times of crisis the president and his cabinet have unusual sway over mass psychology, and psychology drives the American economy.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com