If the ideology had been a lie, then they are not heroes and gods on earth, but monsters and criminals, and their life has been self-serving and meaningless, without significance and honor. And that is the credibility trap. It is the impulse for the leaders to keep doubling down in the hope of a win, until exhaustion and collapse.
"Treason doth never prosper: what's the reason? Why if it prosper, none dare call it treason."How else can one explain the irrational, self-destructive policy impulse? This is why they are metaphorically hanging Greeks and Spaniards and Irish in Europe, as tribute to an unsustainable and corrupt Euro monetary arrangement, with its puppet governments run by the banks.
And this is the US financial system and the American policy discussions today. First they come for the powerless and the weak, whether it contributes anything substantial to the broader resolution of the problems or not. The madness serves none but itself.
"A credibility trap is a condition wherein the financial, political and informational functions of a society have been compromised by corruption and fraud, so that the leadership cannot effectively reform, or even honestly address, the problems ot that system without impairing and implicating, at least incidentally, a broad swath of the power structure, including themselves.
The status quo tolerates the corruption and the fraud because they have profited at least indirectly from it, and would like to continue to do so. Even the impulse to reform within the power structure is susceptible to various forms of soft blackmail and coercion by the system that maintains and rewards.
And so a failed policy and its support system become self-sustaining, long after it is seen by objective observers to have failed. In its failure it is counterproductive, and an impediment to recovery in the real economy. Admitting failure is not an option for the thought leaders who receive their power from that system.
The continuity of the structural hierarchy must therefore be maintained at all costs, even to the point of becoming a painfully obvious hypocrisy.
The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery."