As I have blogged in the past, anyone who thinks they understand economics is a fool. You can claim that you know a lot or a little about economics, but you can't say that you understand it or are some kind of expert. In my blog about what kind of President we need, I pointed this out as clearly as I could. Human nature being what it is, it is easy for people to be fooled. Have you ever noticed how it works? First, you can't be fooled by someone who is dumber than yourself. Now whether the person is smarter or dumber, there is no easy way to really know. It is up to you to make that determination and many have claimed that Obama is really smart. They go on further to claim that he is a lot smarter than Bush. Ask yourself, which one of these two would be better at fooling you? Easy one.
Now look at preachers. As a kid, I used to attend a Pentecostal Church with my parents. If you have not attended one of these, you should. It will open your eyes to how your fellow man can be fooled. I never attended the Rev. Wright church that Obama attended for 20 years, but my guess is that it was about the same as the ones I attended. The common thread within these types of churches is that the preacher has to be 100% confident that he is 100% right. They talk like they just got off the phone with God before he started to preach. They claim that they know things about God and Heaven that clearly could not be known, but they claim to know with such conviction that they fool 90% of those in the audience. Now who do you know who has this 100% confidence and conviction that they are 100% right? It is Obama and that is how he is able to fool so many people.
If you compare Obama and Bush, it is clear which one presents themselves as being the smartest and the most confident. It was a long time ago, but most people thought that the Sun revolved around the Earth and not the other way around. They thought that the Earth was the center of the universe, but it was not. Today we would laugh at people who held those views, but not back then. Galileo was put in jail for saying the Earth was not the center of the universe. How about when people thought the Earth was flat or that if you sailed too far out into the ocean you would drop off the edge. People held these views with such conviction that they were able to convince people that it was true.
I just about forgot about PID and economics. I'll give you a simple PID example of why only a fool would claim to be an expert in economics. The example is driving a car down a road that has a few easy curves and you want to follow the center line as close as possible. This is about as easy as it gets and some people can do it a lot better than others. Let's look at the variables. Speed, eye sight, reaction time, tires, play in the steering wheel, quality of the tires, slickness of the road and on and on. All these things and more have to be considered.
Now you are driving along a some low speed and you are off the mark a little to the right so you turn to the left. Now let's say that you were not only off to the right, but were tending to the right and actually gaining in speed to the right. What would be the correct action by you to get back on the center line? Complicated isn't it? First, you need to stop the acceleration to the right, but while you are doing this, your velocity to the right continues and you are even further to the right. Now once you top accelerating to the right, you have to overcome the velocity to the right until you are not getting any worse. At this point, you start to make some gain toward the center line and are coming upon the center line at a very fast rate. If you don't back off on your steering before you get to the center line, you will over shoot and have to correct from the opposite side. I know that you have all driven behind people who continually wonder back and forth and can hardly keep the car in the lane. Now what do you think would happen if the car was going much faster on on a down hill grade or if this was the first time you had ever driven a car? This is what we have with Obama and people who think they are experts in economics.
The way good drivers drive is that they have a lot of practice. Further, they don't let the car get very far off the center line before they made a correction and then, they only make very small correction. I told you that I am a pilot and have a Supercub airplane that has a tail wheel. This type of plane is totally unstable at the point of landing. It is like a broom that you want to balance in your hand. You can balance the broom in the palm of your hand if you never let it get too far out of balance, but if it ever gets too far, you will never be able to get it back in balance. Economics of a country like the USA is a lot more complicated than balancing a broom and I can tell you that 99% of the economists on TV could not write down the rule set or theory of how to balance the broom in the palm of your hand. If that is the case, why would expect them to understand economics? They might have you fooled, but not me. That is why we need a different kind of President, not just a different president.
PS----
I forgot to tell you what PID means. It means P = Proportional, I = Integral and D = Differential. These are the three factor that need to be taken into account in any control system and that includes economics. Try asking people who think they know anything about economic systems what "PID" means and if they do not have the correct answer, you know they are frauds. Even simple systems are complicated and economics is the most complicated of all.
