Econoception

Econoception is a term that symbolizes how the markets (and society in general) ignore the reality and rather trust the perception gathered through media and others.
It is also supported by the theory that "as long as the numbers stay in line with previously acceptable economic data, the world won’t fret too much about what is happening on the ground."
When the reality is finally felt by those with an economic stake in a country, it is usually far too late for the general population to adjust, leading to a macroeconomic crisis.
Rising econoception is more drawn out and lengthy compared to descending econoception which falls more rapidly due to the lack of knowledge with the majority and panic leads to rapid removal of investments, halting of decisions and sometimes civil unrest.
Econoception, can also be used in a positive light as well, though, where the majority of the market believes an economy is still in free fall when in fact there is a rise appearing but is not widely known yet. If shown on a graph, this would be illustrated by a sideways movement.
Examples are plenty, ranging from the current US mortgage crisis through to emerging market countries like South Africa, Argentina etc.
*More articles will be added soon that show econoception. Please feel free to add your own examples that you find are explained by econoception.
Origins
The term Econoception, was first coined by South African entrepreneur, copywriter and currency trader, Sean Bradford Inggs (on the 16th of April, 2009) while authoring a blog called The Rand Report which analyses emerging markets.
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