shibboleth

“Don’t fight the Fed” is a financial market shibboleth most investors learn at a very early stage in their career.

They are opportunists; they saw that nobody was catering to the conservative demographic, so they learned the shibboleths and signs to signal “Hey, I’m one of you!”

“The market can remain irrational longer than you can remain solvent,” is a financial industry shibboleth most investors have learned through a great deal of pain.

Of course conservatives complained about all this constantly and at great length, and sporadically tried to organize boycotts or other counterattacks against such shibboleths as “affirmative action,” “political correctness,” “multiculturalism” and “cultural Marxism.”

California Latinos have helped to torpedo liberal shibboleths at the ballot box more often than Democrats will ever admit.