When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Tuesday, February 18, 2014

Our Biggest Problem: Elitists Running the Federal Reserve, US Supreme Court, Government

The problem is these so-called "experts" are not very good, whether it is trying to control the economy, judging, or running the government -- we have never had a more elitist government, in every branch, than today, and it shows in the poor direction and condition the nation is in--even the Harvard Business Review is starting to get a clue how bad this situation is --

How Economics PhDs Took Over the Federal Reserve - Justin Fox - Harvard Business Review: "... A Fed with lots of PhD economists is probably a good thing. A Fed with only PhD economists in its top jobs would be limiting itself. Diversity brings all sorts of positive side-effects; monocultures are fragile and unhealthy. The FOMC hasn’t gotten nearly as narrow in its recruiting as the Supreme Court, where the nine justices are the product of just three law schools (Harvard, Yale, and Columbia), and eight were U.S. appeals court justices before joining the Supremes. Let’s hope it never does."

You see, these elitists start to think they do "really know better,"--I would rather have real wisdom, born of experience, than these so-called know-it-alls who completely missed the bubble and crash of 2008, who think any program can be justified if it is a "tax," etc., and who are truly "ignorant" in the full meaning of the word.


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects