I want to give a warning – It’s very easy in this situation to assume that Pelosi and even Biden are making these arguments because they are too stupid to grasp the fundamentals of debt creation, money velocity and fiat. That said, never mistake evil for mere ignorance.
March 17, 2022
The Stagflation Trap Will Lead To Universal Basic Income And Food Rationing
Brandon’s got that one spot on. But one might also consider that they’re both? Ignorant and evil.
Maybe we need to make the penalty for acting upon those impulses more painful?
Yes, but that only works if the public reaction is “someone save me!”
If instead the reaction is “you’re drunk, get out from behind the wheel” we will end up in a much better place.
I think it’s time to stop calling evil mere incompetence.
Toasty’s Corollary: Any sufficiently destructive stupidity is indistinguishable from malice.
In other words, it’s irrelevant whether they are stupid or evil.
Toastrider has it. Can anyone explain the practical difference between “gross incompetence” and “deliberately evil”? Where does each lie on the Scale of Acceptability?
The cure for ignorance is education. The answer to evil is something else.
If someone is “honestly mistaken” (a.k.a. grossly incompetent) and receives correction, one of two things will happen: They will either cease to be mistaken, or cease to be honest.
The practical difference is as Richard said. One can be fixed with information and education. The other must be fixed by … other means.
Biden and Pelosi have had much too long careers in government not to have repeatedly received remedial education in how government actions affect the economy. Either they refused to learn or they know, and they still chose the path of maximum eff-up.