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The precautionary principle, along with the notion of sustainability, incorporate a culture of extreme risk aversion.
The exception has been gold, which has benefited from the extreme risk aversion.
The salesman's boss at his old firm was a trader who in matters of personal finance preached extreme risk aversion.
"In a climate of extreme risk aversion, investors lack confidence to continue to provide normal level of funding to financial institutions," Mr. King said.
In fact, an overwhelming proportion of the "quick cash" in the global financial system is uninsured and prone to manic-depressive behavior, swinging unpredictably from thoughtless yield-chasing to extreme risk aversion.
John Ryding, chief economist at RDQ Economics in New York, expects rates on 10-year Treasuries to reach 3.75 percent this year, up from about 2 percent now, as investors awaken from what he described as "extreme risk aversion".
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The bursting of the stockmarket bubble shocked many investors into extreme risk-aversion.
They induce extreme risk-aversion among corporate managers including "third party" corporate managers not the subject of prosecution without any countervailing gains (apart from perhaps winning some brownies in the press for the likes of SEC/FED/FDIC/CFTC enforcement officials).
Extreme risk-aversion becomes the norm among decision-makers responsible for security in both Washington and the field.
Perhaps more to the point, it is becoming clear that the extreme risk-aversion that prompts Democrats to avoid backing gay rights is not only morally wrong but politically unwise.
This points to an extreme degree of risk aversion, since a full 42percentt of Dutch respondents stated that they had no illness-related physician visit during the previous year.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com