Bloomberg Surveillance · Tuesday, September 15, 2026
George Noble introduced the term 'narrative dominance' to describe a stock market driven by narratives rather than fundamental reality, likening it to a 'post-truth stock market'. He argued that market participants are being told what to believe, with liquidity injections aimed at maintaining asset prices regardless of underlying economic conditions.
“The term fiscal dominance has made the rounds the last couple of years. If I hear that term one more time, I'm going to put my fist through the wall. Well, I'm coming out with a new phrase. It's called narrative dominance. Narrative dominance. I love that.”
“Do you remember the book Alan Keyes wrote a couple of years ago, a few years ago, The Post-Truth Society? We're in the post-truth stock market. It doesn't matter what reality is. Right.”
“They're trying to tell you this is what you should believe. And we're going to put in enough liquidity, spike the drinks enough. So what are you complaining about, Tom? You're looking at these numbers and everything.”