In a twist on an old theme, some investors seem to have become irrational in the face of huge declines and outright insolvencies in the markets—so they’re consulting psychics for investment advice.
Ruth La Ferla reports for the New York Times:
“Your mortgage agents, your realtors, your bankers, you can’t go to these people anymore,” said Tori Hartman, a psychic in Los Angeles. “They’re just reading a script – at least that’s how my clients feel. People are sensing that the traditional avenues have not worked, that all of a sudden this so-called security that they’ve built up isn’t there anymore. They come to a psychic for a different perspective.”
Psychics say their business is robust, as do astrologers and people who channel spirits, read palms and otherwise predict the future (albeit not the winning lottery numbers). Their clients, who include a growing number of men, are often professional advice-givers themselves, in fields like real estate and investments, and they typically hand over anywhere from $75 to $1,000 an hour for this form of insight.
“My Web traffic is up and up and up,” said Aurora Tower, a New Yorker who constructs spidery star charts for her growing clientele. “People will entertain the irrational when what they consider rational collapses.”
Quackery? Whatever. After all, the nation’s supposed experts on the economy, from pundits on the networks to billionaire investment bankers, have not been exactly reliable. And spiritual readings, as they are known, appear to be one of the few growth sectors in a contracting economy.
“My phone is ringing off the hook,” said Roxanne Usleman, a psychic in Manhattan.
It kind of makes sense. It’s often said that to time the markets, you would need a crystal ball that will tell you where the markets are going. So why not consult with someone who actually has a crystal ball?