A FINAL WORD on 2006
December 9, 2006
'Truthiness' Is the Word of the Year
After 12 months of naked partisanship on Capitol Hill, on cable TV and in the blogosphere, the word of the year for 2006 is ... "truthiness."
The word -- if one can call it that -- best summed up 2006, according to an online survey by dictionary publisher Merriam-Webster. "Truthiness" was credited to Comedy Central satirist Stephen Colbert, who defined it as "truth that comes from the gut, not books."
"We're at a point where what constitutes truth is a question on a lot of people's minds, and truth has become up for grabs," said Merriam-Webster president John Morse. 'Truthiness' is a playful way for us to think about a very important issue."
Colbert first uttered "truthiness" during an October 2005 broadcast of "The Colbert Report," his parody of combative, conservative talk shows.
Associated Press |
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The Blurring of the Truth
By: Pete Kendall, December 30, 2006 |
The Wave Principle of Human Social Behavior’s [captures] the difference between bull and bear market thinking. Practical thinking dominates in a bull market. In a bear market, “magical thinking” prevails.
The Elliott Wave Financial Forecast, April 2003 |
Saw this article mentioning "truthiness" in passing on CNN earlier, but didn't read it. It didn't click untill my nephew got a T-shirt with truthiness defined on it for Christmas. Basically says that truthiness is the truth that comes from the gut & is never confused by the facts. Don't know how many times have I read in EWI publications that in bull markets we favor reasoning based on logic and in bear markets we revert to fuzzy logic based on emotions. Now Bob Prechter has a word for it. We come to favor truthiness over the truth of the matter.
--Matt Rhodes
I think you’re right, “truthiness” reflects the transition to a bear market in which shades of grey are far more prominent than the black and white social reality of a bull phase. When society is rolling higher, “truth” is plain to see. But a bear market blurs the lines. |
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