Kevin Duffy compares investors to politicians

Investors, by necessity, are truth seekers.  With their own capital at risk, they are subject to relatively short feedback loops.  Deviation from reality can be costly... 

Politicians, by contrast, are truth deniers: they have little skin in the game and feedback loops tend to be much longer.  They traffic in lies, their constituents in self-deceit.  They excel at kicking the can down the road.  Still, they are not immune to the laws of economics which, when they finally exert themselves, often do so with a vengeance.

~ Kevin Duffy, "The Trouble With Conformity," The Coffee Can Portfolio, p. 3, November 2, 2020